Fred Smith, a billionaire who founded FedEx and was one of the first members of the nonprofit SAFE, which focuses on mineral and energy policy in the U.S., has died. He was 80 years old.
Smith is best known for creating Memphis, Tennessee-based FedEx, which started operating in 1973, delivering small parcels and documents more quickly than the U.S. Postal Service. A Marine Corps veteran, Smith went on to see the company evolve into an economic staple in the U.S. He stepped down as CEO in 2022 but remained executive chair.
Smith was also instrumental in helping to launch the nonprofit SAFE two decades ago.
Officials from the group have gone on to fill top slots at agencies like the departments of Energy and Commerce, craft laws like the Inflation Reduction Act, and have weighed in on everything from EVs to policy around easing China’s grip on mineral supply chains.
