Fedex Owner Blackjack
admin 4/2/2022
Fedex Owner Blackjack Rating: 5,0/5 3147 reviews
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This is the motivating story of Billionaire founder of #FedEx. Born in 1944, Fred Smith is crippled by a bone disease as a small boy & watches sports from the sidelines. Regains his health by age 10, becomes an excellent #football player & learns to fly at 15. (2/8)
FedEx Corporation is an American multinational delivery services company headquartered in Memphis, Tennessee. The name 'FedEx' is a syllabic abbreviation of the name of the company's original air division, Federal Express (now FedEx Express), which was used from 1973 until 2000. The Founder Of FedEx Saved The Company From Bankruptcy With His Blackjack Winnings FedEx, the world's first overnight. FedEx, the world's first overnight.
Fred smith was in yale university & had an idea of overnight delivery service which was reliable. He had a great plan & wrote down the idea in great detail & presented the same to his professor. His professor gave him a 'C' for his submission. 3/8
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What the professor commented about the whole idea was 'The concept is interesting & well-formed, but in order to earn better than a ‘C’, the idea must be feasible.” 4/8
In 1973, they had $80 million in funding & started the company. Shortly they started delivering to 25 cities but things were not easy. They struggled & finished the whole $80 million they got as funding. In his first 26 months in business he racks up $29 million in losses 5/8
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Gradually things got so serious that once, one of their pilots used a personal credit card to pay for landing fees. Then, in another instance one of their couriers hocked his watch to buy fuel for his delivery van 6/8
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At one point,the situation turned so bad that it became impossible to operate.They only had $5000 in their account & the fuel guys for the plane were at their gates asking for $24000. Fred had to take a decision fast & so he decided to gamble w/the $5000 he had in his account 7/8
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Yes.. he went to #LasVegas to play #blackjack but then lady luck was on his side. he came back w/ $27000.
After a week, he was able to raise $11 million & then things started to get stable. In 1976, he posted his first profit of $3.6million. As they say rest is history 🙏8/8
After a week, he was able to raise $11 million & then things started to get stable. In 1976, he posted his first profit of $3.6million. As they say rest is history 🙏8/8