India, June 22 -- FedEx founderFrederick Wallace Smith reportedlydied on Saturday, June 21, aged 80. Smith was known for his long career, having wielded considerable influence in both the business and political realms. He notably forged close ties with presidents and presidential candidates, including George W. Bush and John McCain, as well as members of US Congress, while he advocated for minimal trade barriers.

Smith, anAmerican CEO and entrepreneur, had a net worth of $6 billion, according to Celebrity Net Worth. Considered one of the most successful transportation entrepreneurs in the world, Smith founded Federal Express with his $4 million inheritance (worth around $23 million today) in 1971, the outlet reported. He later raised $91...