How Blackjack Saved FedEx?

There was a man named Fred Smith. He had a keen interest in flying airplanes.

While Mr. Smith was attending Yale, he had an idea, that of a private delivery service. The postal services then were very slow (comparatively) and he thought he could revolutionize the shipping industry by creating a single company handling from start to finish.

FedEx CEO Saves Company With A $5000 Gamble

FedEx CEO Saves Company With A $5000 Gamble

Now, since the company handled everything from start to finish, they needed to hire airplanes, which were costly affairs. He put all he had, in the company and worked hard with all his might but the company was out of money.

He could not afford fuel for the planes with the amount left with them. The company was counting it’s last breathes. They were left with $5000 while they needed to pay the airlines $24000 to stay in the market. No deliveries meant reputation of company is gone and no further trust from the customers.

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So, this man says, “Well we cannot do anything with just $5000, so let’s take a risk.”

Thus, he took those last 5000 Dollars, goes to Las Vegas and plays blackjack with that money to win the money for survival. Let me repeat it, he took those last freaking $5000 the company had in it’s account, put them on blackjack, hoping that the winnings would help his company survive.

And the stroke of luck, he wins! He won $27000 in blackjack for FedEx, flew back to office and whew! just like that, he began the success journey of his multi billion dollar company, also known as FedEx.