FedEx's founder bet the company on one Las Vegas delivery
FedEx founder Fred Smith risked the company's final $5,000 in a Las Vegas casino, winning enough at blackjack to save the fledgling firm from immediate bankruptcy in 1973.
In 1973, facing bankruptcy with only $5,000 left, FedEx founder Fred Smith made a desperate gamble. He flew to Las Vegas and played blackjack, turning his company's last funds into $27,000. This audacious move provided just enough to cover a critical $24,000 fuel bill, saving the fledgling overnight delivery service.
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