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| Financial crisis claims more lives |
| Press Trust Of India / Berlin Jan 08, 2009, 00:21 IST |
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His spirit broken by financial fears, German billionaire Adolf Merckle took his own life this week, becoming the latest high-profile casualty of a global economic crisis that has already claimed many lives in the US and Europe.
Merckle, a respected businessmen with a wife and four children, jumped in front of a train in the town of Blaubeuren in southwestern Germany, officials said yesterday.
His business empire had run into trouble in the crisis, and its problems were compounded by heavy losses in trading of shares in automaker Volkswagen. Merckle’s business interests included generic drug maker Ratiopharm International GmbH and cement maker HeidelbergCement.
Merckle’s family said in a statement that “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.”
Authorities said he left a suicide note, but gave no details. Merckle’s death appears to be at least the third comparable suicide in less than four months.
In September, Kirk Stephenson — the chief operating officer of private equity house Olivant — jumped in front of a train at a rail station west of London. The 47-year-old husband and father of a young son stepped onto the tracks, was struck and killed.
A British coroner ruled last month that the death was suicide, though the precise reasons remain a mystery. He left no suicide note.
Two days before Christmas, in New York, Rene-Thierry Magon de la Villehuchet, was found dead at his desk, both wrists slashed and bottle of pills nearby after his fortune and the money of his loved ones vanished along with his clients when he lost $1.4 billion invested with Bernard Madoff.
The Frenchman’s fund was among the biggest losers in the Madoff fraud, and one of a handful to get taken for more than $1 billion.
“He was totally ruined,” his brother, Bertrand Magon de la Villehuchet, said last month. “At first he thought he’d be able to get the money back. He was very determined. Gradually he realised he wouldn’t be able to,” Bertrand said.
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