German Billionaire Adolf Merckle is dead at 74 – the second Billionaire in ten days to kill himself over money worries. His Business Empire was Crumbling from the Global Financial Crisis and when he Gambled wrong by Shorting Volkswagen stock when Porsche was Buying a huge equity stake.
Merckle’s body was found near railway tracks in Blaubeuren near Ulm in southern Germany. He left behind a Suicide Note.
” The desperate situation of his companies caused by the financial crisis , the uncertainties of the last few weeks and his powerlessness to act , have broken the passionate family entrepreneur and he took his own life ” – a family statement said.
Forbes estimated his worth at $9.2 Billion USD in 2008 – making him #94 on its list of the world’s richest. In 2007 he was #44 with over $12 Billion USD.
Mr. Merckle controlled a number of German companies including the Flagship Ratiopharm , Germany’s largest drug company , as well as cement maker HeidelbergCement and others.
Reports in Germany spoke of the Global Financial Crisis as Breaking Adolf Merckle. The Billionaire’s Business Empire stood on the brink of collapse as the Royal Bank of Scotland refused a bridge loan of 400 million euros to rescue him.
Merckle’s Depression was too deep – his losses too great to bear.
” MONEY – That’s what I Want , that’s what I want , YEAH a whole Lotta Money – that’s what I want , A Lotta Money – That’s what I Want ” – The Beatles