The Founder of FedEx Saved the Company by Gambling in Vegas
The founder of FedEx saved his floundering company by gambling in Vegas, earning $27,000 in blackjack! The company only had $5,000 in its coffers when Frederick Smith decided to fly to Vegas in 1973 and risk it all. Though this isn't good investment or business advice in general, Smith's gamble paid off, allowing the company to last long enough to raise $11 million and eventually earn its first profits in 1976.
Re: DID YOU KNOW ?
2Frederick Smith's entrepreneurial spirit, determination, and willingness to take calculated risks played a role in the success of FedEx, which eventually became a global logistics and delivery giant
Re: DID YOU KNOW ?
3It's a fascinating story of entrepreneurial determination, there are countless others where individuals or businesses have faced ruin due to similar gambles. In the world of business, careful planning, strategic decision-making, and a solid financial foundation are typically the keys to success.Prince577 wrote: Mon Sep 18, 2023 4:43 pm The Founder of FedEx Saved the Company by Gambling in Vegas
The founder of FedEx saved his floundering company by gambling in Vegas, earning $27,000 in blackjack! The company only had $5,000 in its coffers when Frederick Smith decided to fly to Vegas in 1973 and risk it all. Though this isn't good investment or business advice in general, Smith's gamble paid off, allowing the company to last long enough to raise $11 million and eventually earn its first profits in 1976.
But it's crucial to note that such a gamble is far from a recommended business strategy.
