Even Billionaires are having troubles due to the financial crisis. German Tycoon Adolf Merkle committed suicide on Tuesday, family reported, due to the financial global crisis that was bringing his business empire down.
Adolf Merkle, 74 years old, was the 94th richest person in 2008 according to Forbes magazine. However Banking sources revealed that the family lost hundreds of millions of euros on investments, with losses of about 400 million euros ($539.4 million) on Volkswagen shares alone.
“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.
That is the news for now on Adolf Merkle, and hopefully we can all save up a bit and not let money or the financial crisis take our lives.
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Help I’ve fallen and I can’t get up.