Germany's Warren Buffett Kills Himself Over Financial Problems
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Merckle is said to have lost hundreds of millions of dollars unsuccessfully shorting Volkswagen shares, and had just completed negotiations with a consortium of 30 banks for a bridging facility to provide time to break up his business empire, which is struggling with a growing burden of debt.
The family said in a statement: '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 handle the situation, broke the passionate family businessman, and he ended his life'.
Forbes has Merckle listed as the world's 94th richest man, with an estimated fortune of some $9.2bn.
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