Adolf Merckle, German Billionaire, Commits Suicide After Business Empire Hit Hard by Financial Crisis

Adolf Merckle, the German billionaire who had been ranked as the world’s 94^th richest person in 2008, has committed suicide after his business empire began to fall apart due to the global financial crisis. Merckle was 74-years-old.

The slowdown in the global economy led to losses in several of his business interests which included Volkswagen, Heidelberg Cement and Ratiopharm.

A statement released by Merckle’s family noted, “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 act, broke the passionate family businessman, and he ended his life.”

Merckle had been trying to secure a line of credit from banks for his holding company after suffering tremendous losses in 2008.

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