Welcome to Soldier of Fortune, a new series where I spotlight veterans in business: veteran CEOs, founders, veteran-owned companies, and young veteran entrepreneurs. A lot of what we learn in uniform, like planning, logistics, leading people under pressure, and owning the mission, carries directly into building a company. The first story had to be one of the biggest examples there is.
A Marine Before He Was a CEO
Frederick Wallace Smith was born in Marks, Mississippi, on August 11, 1944, and grew up in Memphis, Tennessee. He earned an economics degree from Yale in 1966. After graduation he was commissioned in the U.S. Marine Corps and served from 1966 to 1969, including two tours in Vietnam as a platoon leader and as a forward air controller flying in the back seat of the OV-10. He left the Corps as a captain, having received the Silver Star, the Bronze Star, and two Purple Hearts.
His Silver Star citation covers May 27, 1968, when he was a first lieutenant commanding Company K, 3rd Battalion, 5th Marines. According to the citation, he ran through intense fire to pull casualties out of danger and called artillery and air strikes to within fifty meters of his own position. Then he led an enveloping attack that routed the enemy unit. The citation credits his "calm presence of mind under fire."
Building Federal Express
Smith founded Federal Express on June 18, 1971. He put in his own inheritance and raised about $91 million in venture capital. In 1973 the company began service to 25 cities with a fleet of 14 Dassault Falcon 20 jets, shipping small packages and documents. His big idea was an integrated air-ground system, with packages flowing through a central hub the way checks flow through a bank clearing house. That hub-and-spoke model changed how the world ships.
FedEx grew into the world's largest express transportation company. Smith led it as CEO for about five decades, stepped down as CEO in June 2022, and stayed on as executive chairman. He died on June 21, 2025, at age 80.
What Veterans Can Take From His Story
- Logistics is a superpower. Moving people, gear, and supplies on time is what the military does every day. FedEx is that same discipline turned into a business.
- Think in systems. Smith didn't just want faster planes. He designed a whole network. Veterans who have seen how a unit, a supply chain, or an operation fits together can spot gaps like that.
- Stay calm when things go wrong. The early years at FedEx were rough. The steadiness his citation describes is the same thing a founder needs when cash runs low and the plan stops working.
As someone who studied operations and supply chain management after the Marine Corps, I think Fred Smith's story shows exactly why military experience translates into business. Semper Fi.
Next time on Soldier of Fortune: another veteran who turned service into a company. Know a veteran founder or veteran-owned business I should feature? Let me know.
Sources
- Frederick W. Smith, Wikipedia (biography, Marine Corps service, Silver Star citation, and FedEx history)
- FedEx: Our History