Fred Smith has an estimated net worth of $3.9 billion as of May 2015 according to Forbes. He is also #704 in the World’s Billionaires List (#601 in 2012), #243 in the United States and #271 in Forbes 400 List. In 1971, he launched the shipping company, Federal Express. Currently, he is the chairman, president and CEO of the first overnight express delivery and the largest in the world.

Born Frederick Wallace Smith on August 11, 1944 in Marks, Mississippi, Smith attended Yale University in 1962. While at the university, he built up an idea that led to the founding of FedEx. He was also a friend and a fraternity brother of George W. Bush. In 1966, he earned his bachelor’s degree in economics. From 1966 to 1969, he served in the U.S. Marine Corps after graduation and he had a first hand exposure to the logistic system in the military.

Fred Smith purchased a controlling interest in Ark Aviation Sales, an aircraft maintenance company, in 1970. He has served on the boards of St. Jude Children’s Research Hospital and Mayo Foundation. He was also the former chairman of the Board of Governors of the International Air Transport Association and the U.S. Transport Association. He is also the co-owner of the Washington Redskins Team in the NFL. He co-owns several entertainment companies such as Dream Image Production and Alcon Films, producers of Insomnia starring Al Pacino and Robin Williams, and The Blind Side.

In 1996, Smith was inducted into the Junior Achievement U.S. Business Hall of Fame. He was also named “CEO of the Year 2000” by Chief Executive Magazine. On May 29, 2008, he was presented the 2008 Kellog Award for Distinguished Leadership by the Kellog School of Management. He was a recipient of the 2008 Bower Award for Business Leadership from the Franklin Institute in Philadelphia. In 2011, he was awarded the Tony Janus Award for distinguished contributions to commercial aviation.