However in its early days, it was marred with debts, losses and was on the brink of bankruptcy.
In 1971, Fred Smith founded the company with $4 million of inheritance and $80 million in loans and equity investments.
FedEx started out with eight planes, covering 35 cities, and it had plans to add more each month.
But in the first two years, primarily due to rising fuel costs, the company found itself millions of dollars in debt and on the brink of bankruptcy. Even worse, Smith's vital pitch for funding to the General Dynamics board was rejected.
FedEx's funds dwindled to just $5,000 and Smith realized that he didn't have enough to fuel the planes.
So next ? One just doesn't let things die down this easy, no matter what!
Smith impulsively flew to Las Vegas and played blackjack with the last of the company money .
Amazingly, when he came back the next week, he had turned the remaining $5,000 into $27,000 - just enough for the company to stay in operation for another week.
Rest as they say..... is history.
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