Germany's Warren Buffett Kills Himself Over Financial Problems

Sad to report the death of Adolf Merckle, the respected German businessman viewed by many as his country's equivalent to Warren Buffett. Merckle, 74, was found dead on railroad tracks near his villa in southern Germany on Monday, having thrown himself in front of a train. He left a suicide note, although the contents have not been disclosed.

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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