Frederick Smith's High-Stakes Gamble

In 1973, FedEx faced imminent bankruptcy, with CEO Frederick W. Smith on the brink of shutting down operations. With only $5,000 left, he took a bold gamble in Las Vegas, hoping to win enough to save the company. Against the odds, Smith won $27,000 at the Blackjack table, allowing him to pay off debts and keep FedEx afloat. This daring move not only preserved the company but also set the stage for its future success as a global logistics leader. #entrepreneurship #riskmanagement #businesssuccess #inspiration #FedEx