Adolf Merkel, number 94 on the Forbes list of the world's richest people, with a business empire that included interests as diverse as cement maker HeidelbergCement and generic drug maker Ratiopharm commited suicide on Monday after his business empire got into trouble in the wake of the current financial crisis.
Merkle, 74, was one of the richest men in the world , but he lost hundreds of millions of dollars, including comapny capital, betting against Volkwagen stock last year.
His petition for financial assistance was rejected by the state government of Baden-Wuerttemberg and he entered talks with several German banks.
His uncertainity and powerlessnees to act independently broke the passionate business man caused by the financial troubles of his companies, which were induced by the current financial crisis. He took his own life by getting hit by a in the southwestern town of Ulm.
His body was found by an employee of Germany's railroad company on the tracks about 7p.m. on Monday. Merckles family had reported him missing earlier in the day.
We don't like to talk about bad news around here at Financial Elite, but anyone who is feeling helpless please get help. We have discussed the amount of suicides occuring since this crisis began and seems to be continuing. First people loosing their homes now millions of dollars.
If you our contemplating suicide there is help out there. Please call the National Suicide Prevention Lifeline at 1-800-273-TALK (8255)
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