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May 03

FedEx The Gamblers Delivery Service

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Now we all know one thing you should never ever do is gamble with company profits, well maybe you should have that discussion with the 290,000 people FedEx employ across the globe who wouldn’t have a job if it weren’t for their risk taking founder and C.E.O Fred Smith.

Back in 1973 in the early days of FedEx the company was still trying to find its feet and a severe cash flow problem cropped up when they were faced with a $24,000 fuel bill and with only $5,000 in the company account. Well you do the math, Fred.Smith simply had no option and was looking at liquidating the company and having to let go of his employees and his dreams. Rather than go down with the sinking ship Fred Smith took his $5,000 to the blackjack tables of Lad Vegas. I know bat shit crazy right! Well in that one night he turned his $5,000 into $27,000 enough to pay his fuel bills and still have a hit if capital left in the account.

The company now has $32 billion market capitilization and forbes magazine recently estimated his personal wealth at $2.1 billion. Could this have been the most successfull gamble of all time?

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