If you have always lived in the United States your whole life, and you don’t know anything about the postal service company USPS, then you must be living under a rock. Some of you may only know that the United States Postal Service was established in 1971, but did you know that the foundation for this company was laid way back in 1792? Kinda crazy if you think about it. And if that has got you intrigued already, then keep on reading because you are about to find a lot more about USPS company, how it started, who started it all, what’s their net worth in 2023, and a whole lot more. Here we go.
| United States Postal Service Origin Country | United States |
| Established Year | 1971 |
| Headquarters | Washington, D.C., U.S. |
| United States Postal Service CEO | Louis DeJoy |
| United States Postal Service Founders | Second Continental Congress, Benjamin Franklin |
| United States Postal Service Net Worth | $56.04 billion (As of November 2023) |
| Industry | Mailing Industry |
The United States Postal Service Story
Starting in 1775, when the American Revolution was all the rage, Benjamin Franklin got the gig as the first Postmaster General. That was the real kickoff for mail in the thirteen colonies. Then came the big game changer in 1792, the Postal Service Act. Newspapers got a cheap ride in the mail, spreading news everywhere in the young country. Fast forward to the 19th century, and the USPS was all about keeping up with a growing America. They were putting mail on steamboats in the 1820s and then on railroads in the 1830s. Oh, and who can forget the Pony Express in 1860? Short-lived, sure, but it was like a declaration: “We’ll connect this huge country, no matter what.” The 20th century? That’s when the USPS really started to shake things up. Airmail kicked off in 1918! Then, in the 50s and 60s, they went full-on tech with mechanized mail sorting. 1971 was another big year. The Postal Reorganization Act came in and transformed the old Post Office Department. It wasn’t just part of the government anymore, it started acting more like a business, but still under Uncle Sam’s wing.
United States Postal Service Financials
Okay, let’s take a quick look at how the money flows at the United States Postal Service (USPS). So, in 2021, they were in the red, with a loss of $6.9 billion. But, get this, it’s actually a bit of an improvement from the $7.6 billion hole in 2020. Why? More people buying stuff online meant more packages to deliver. Now, the money coming in was actually up. The USPS made $77.0 billion in 2021. That’s 5.3% more than the year before. But here’s the twist though, they still lost $4.9 billion overall. The year 2020? Even worse, with losses hitting $9.2 billion. Fast forward to 2022. The plot thickens. Revenue climbed to $78.5 billion, a $1.5 billion hike from 2021. And, brace yourself: as of now, the USPS’s net worth is a massive $56.04 billion. Quite the turnaround, wouldn’t you say?