Ryder System, Inc.
How a 10-cent opportunity and tireless hustle created a 240,000-vehicle fleet and one of “America’s Most Innovative Companies.”
In 1933, at the height of the Great Depression, a young laborer faced a choice that would ultimately change the transportation industry.
At just 21 years old, Jim Ryder was earning 25 cents an hour as a construction laborer in Miami. Like countless Americans struggling through the economic hardships of the era, he was looking for an opportunity to improve his circumstances. What he found was a chance to earn an extra 10 cents an hour hauling concrete blocks to construction sites on Miami Beach.
Most people might have viewed the opportunity as a modest pay increase. Jim Ryder saw something bigger. With determination and a willingness to take a risk, he quit his job and made a bold investment. Using a $35 down payment, he purchased a used 1931 Ford Model A truck and launched what would become Ryder.
The decision was far from a guaranteed success: the nation was in the midst of its worst economic downturn, and every dollar mattered. To maximize the potential of his single truck, Ryder enlisted a high school classmate to share driving duties. Together, they kept the vehicle on the road and earning revenue for up to 22 hours a day.
That early hustle revealed characteristics that would define the company for decades: an entrepreneurial spirit, relentless focus on customers, and a commitment to reliability. Ryder was so dedicated to punctual service that he famously wore two wristwatches as a reminder to customers of his commitment to on-time deliveries.
What began as one truck hauling construction materials quickly grew. Within five years, Ryder secured its first lease customer, Champagne Velvet Beer, through a five-truck agreement that increased the company’s fleet to 20 vehicles. By the following year, the fleet had expanded to more than 50 trucks.
Today, Ryder employs more than 50,000 people, manages 240,000 commercial vehicles, operates nearly 800 maintenance locations, and runs approximately 320 warehouses totaling more than 100 million square feet. Ryder is consistently recognized for technology-driven innovation and industry-leading practices in safety, health, security, talent acquisition, and environmental management, and was most recently named to Fortune’s “America’s Most Innovative Companies” list.
Looking back after 93 years, it is clear that the moment Ryder was born was not marked by the purchase of a truck alone. It was launched by a decision: the courage to leave a steady job, seize an opportunity, and bet on the power of service and hard work during one of the most challenging periods in American history. That 10-cent-an-hour opportunity became the foundation for a company that would grow from a single used truck into a leading provider of outsourced logistics and transportation services throughout the United States, Canada, and Mexico.
