German businessman Adolf Merckle commits suicide, facing significant financial loss.
Wired PR News.com – Billionaire, Adolf Merckle, has taken his own life at the age of 74. As reported by The New York Times, Merckle’s body was found on railroad tracks near his home on Monday. The German businessman’s family was quoted as stating, “The distress to his firms caused by the financial crisis and the related uncertainties of recent weeks, along with the helplessness of no longer being able to handle the situation, broke the passionate family businessman, and he ended his life.”
Merckle was reportedly facing significant loss of shares his company,Ratiopharm, and other assets in part due to poor speculation regarding shares in Volkswagen after the advent of a campaign by carmaker Porsche to take control over Volkswagen. Despite the fact, in 2008, Forbes listed Merckle as the 94th richest person in the world with an estimated $9.2 billion fortune.
Merckle was said to have left a suicide note. Information contained in the note was not released to the public.