BERLIN (Jan. 6) - German billionaire Adolf Merckle has committed suicide after his business empire, which included interests ranging from pharmaceuticals to cement, ran into trouble in the global financial crisis, his family said Tuesday.
The 74-year-old's body was found Monday night near railway tracks at Blaubeuren in southwestern Germany, prosecutors in nearby Ulm said in a statement. They described the death as a "railway accident" and said there was no evidence that anyone else was to blame.
His family, which had reported Merckle missing after he failed to return home Monday, issued a brief statement saying he took his own life.
"Adolf Merckle lived and worked for his family and his firms," it said.
"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," it said.
Merckle's business interests included generic drug maker Ratiopharm International GmbH and cement maker HeidelbergCement AG.
His holding company, VEM Vermoegensverwaltung, recently had been in talks with banks to secure credit after its business interests ran up high levels of debt, and also lost value amid the global financial crisis.
In addition, the holding company recently said it had suffered heavy losses on shares of automaker Volkswagen AG, which fluctuated wildly last fall as fellow car maker Porsche SE moved to increase its stake in the company.
Merckle helped turn his grandfather's chemical wholesale company into one of Germany's biggest pharmaceutical wholesalers, Phoenix Pharmahandel, in which he held a 57 percent stake.
He used his wealth, estimated by Forbes last year to be $9.2 billion, to take stakes in HeidelbergCement and Ratiopharm.
Merckle also owned stakes in companies that made a wide array of goods from all-terrain vehicles, software to textiles.
Despite his wealth and prominence in corporate Germany, Merckle mostly avoided publicity.
He is survived by his four children.
I dunno 'bout you guys, but I find this pretty crazy--I also feel bad for his family as well. Reminds me of the pre-climax in the Wesley Snipes/Sean Connery flick "Rising Sun."
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 06, 2009, 09:28:44 PM
you made one to many quotes.
also i have no idea why the man commited suiside. he is still rich and would have been until he died of natural causes.
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 06, 2009, 09:36:41 PM
It could have been a accident.
OR MURDER!!!
OR INVOLUNTARY MANSLAUGHTER!!!!one!!1!1!1!!!111
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 06, 2009, 10:02:26 PM
FAMILY KILLED HIM FOR HIS MONEY.
Title: Re: German billionare kills himself over finance crisis
Post by: Thefifthelli on January 06, 2009, 10:22:21 PM
no doubt nobody is that carzy to work themselves up to be a billionaire to kill themselves when the world is have some issues. The family probably had something to with it.
diese problem ist nicht gut fuer die familie.
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 06, 2009, 10:27:27 PM
SPEAK ENGLISH YOU MEXICAN.
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 06, 2009, 11:14:12 PM
Lol billionaire got owned by train, he had buff but train is lvl50 hes was only lvl25.
Title: Re: German billionare kills himself over finance crisis
Post by: ShinamoriAoshi on January 06, 2009, 11:21:13 PM
I laughed, a lot. [athf]
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 06, 2009, 11:23:56 PM
Train = Pro
Billionaire = Nub
Title: Re: German billionare kills himself over finance crisis
Post by: ShinamoriAoshi on January 06, 2009, 11:35:59 PM
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 06, 2009, 11:42:52 PM
Train has steel mace with 4 enchants.
Billionaire has wood sword.
Title: Re: German billionare kills himself over finance crisis
Post by: Flashwerewolf on January 07, 2009, 12:15:35 AM
Was it he, or some other dude who was investigating the Madoff scandal? some dude investigating the new scandal committed suicide as well.
Also, the dude was pretty old and i wonder if he had medical issues...
Title: Re: German billionare kills himself over finance crisis
Post by: tkoold on January 07, 2009, 12:16:10 AM
yeah people are stupid with money, its always bad when money drives your emotions, my advice, be like me buy 1000's of DVD's earn tons of debt and have no fear.
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 07, 2009, 01:23:50 AM
no thanks tkoold.
Title: Re: German billionare kills himself over finance crisis
Post by: Thefifthelli on January 07, 2009, 05:33:42 PM
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 07, 2009, 05:39:36 PM
Damn you and your spanish.
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 07, 2009, 08:26:45 PM
Money is evil.
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 07, 2009, 08:48:42 PM
I hate it when people say that. Money is a very good thing, it's just how people misuse it that is bad. There would be no technology nor medical advances and other things that we have today if there was no money.
Title: Re: German billionare kills himself over finance crisis
Post by: Thefifthelli on January 07, 2009, 10:41:12 PM
I agree the only individuals that really tend to misuse money are the people that misused the system to get their money. The ones that work dor their fair stake are usually people that command respect.
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 07, 2009, 11:10:39 PM
I agree. It's not money, it's the people.
Title: Re: German billionare kills himself over finance crisis
Post by: Flashwerewolf on January 07, 2009, 11:27:37 PM
greed is what feeds the need.
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 07, 2009, 11:35:20 PM
I IS GREEDY FOR POSTS. NOM NOM NOM BD NEEDS POSTS.
Title: Re: German billionare kills himself over finance crisis
Post by: tkoold on January 08, 2009, 01:37:27 PM
yeah without money i cant buy chocolate
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 08, 2009, 02:02:56 PM
umm, tomp may have a point. lets get rid of money, for tkoolds sake.
Title: Re: German billionare kills himself over finance crisis
Post by: Tomp45 on January 08, 2009, 06:42:43 PM
I hate it when people say that. Money is a very good thing, it's just how people misuse it that is bad. There would be no technology nor medical advances and other things that we have today if there was no money.
Its not money thats evil, its the idea thats evil.
Title: Re: German billionare kills himself over finance crisis
Post by: Thefifthelli on January 08, 2009, 08:04:56 PM
thats a commonly used phrase i just don't understand where it comes in here? can you explain to me how the idea of money is evil?
Title: Re: German billionare kills himself over finance crisis
Post by: black death on January 08, 2009, 10:37:30 PM
Not 100% sure what he means, i guess he means the idea of money. the idea of exchanging paper for items. eather way that's a load of bullshit.
Title: Re: German billionare kills himself over finance crisis
Post by: Thefifthelli on January 08, 2009, 10:47:23 PM
I can see the corruption the misuse of the object "money" but the idea of having it is usually a good thing it is part of the american dream. The only time this is bad is when they earn money the wrong way.