Russell was born in Burlington, Vermont, and died in Palmyra, Missouri.
Russell, Alexander Majors, and William B. Waddell are often credited as the founders, owners, and operators of the Pony Express. Some credit the original supervisor, Benjamin Franklin Ficklin with the idea. The Pony Express was not ultimately successful, as it went out of business 18 months after its creation, when the company went bankrupt in 1861.