FedEx is a multinational courier that deals with the delivery services and it has its headquarters in the Memphis Tennessee. Its name, ‘FedEx,’ has been obtained from original air division name, Federal Express, which got to be used from the year 1973 to the year 2000. This company has been known for the overnight shipping service as well as the pioneering a system that was able to track and also provide real-time updates on the package location to help lost packages. This has been a feature that has been implemented by many shipping companies. Keep on reading to learn more on the net worth and earnings of FedEx in the year 2019.
This company was incorporated in the year 1997 in Delaware. FDX Corporation was created in the year 1998 with the acquisition of the Caliber System Inc. by the Federal Express. With the purchase of the Caliber, FedEx began to offer various services apart from the express shipping. The Caliber subsidiaries included the RPS, which was a small package ground service. FDX got to be created to oversee the operations of various companies that had been created.
In the year 2000, FDX Corporation would change its name to the FedEx Corporation and later on rebranded all the subsidiary companies. Federal Express became the FedEx Express, RPS would become FedEx Ground, The Robert Express changed to FedEx Custom Critical, and the Caliber Logistics, as well as the Caliber Technology, became FedEx Global Logistics. There was a new subsidiary that was formed known as FedEx Global Logistics. Corporate Services got to be formed to be able to centralize sales, marketing as well as the customer service for all the subsidiaries.
In the year 2000, FedEx was able to acquire the Tower Group International, which is an international logistics group. The corporation was also able to acquire WorldTarriff got to be rebranded to form the FedEx Trade Networks. The corporation went on and acquired Kinko’s Inc. in 2004 and was rebranded to FedEx Kinko’s. This acquisition the new franchise was only offering FedEx shipping. Over time, the company has made various investments.
According to the Center for the Responsive Politics, FedEx has been ranked as the largest contributor in the United States when it comes to campaigns. This company has gone and donated over $21 million since the 1990s, where 45% went to the Democrats while the remaining share went to the Republicans.
Net Worth & Earnings
The net income of this company is estimated to be over $5 billion while the total assets for the company stand at $52 billion. The income has been generated from various products that the corporation offers. It includes Post Delivery, Express mail, third-party logistics, and freight forwarding.
The Fortune magazine has named this corporation as among the biggest and best companies that one can work for in the year 2013. The magazine cited company downsize with the voluntary buyouts rather than the involuntary layoffs.