Another prominent figure has reportedly taken his life amidst the turmoil of the financial markets. In this case, it appears that 74 year-old German billionaire Adolf Merckle has committed suicide. German newspaper Die Welt noted that the head of the family business empire was worth an estimated 7 billion euros (nearly $10 billion).
Merckle is, or was, on Forbes list of the 100 most wealthy. Theinterests of the family control HeidelbergCement and otherconglomerated interests which employ more than 100,000 people with anannual revenue base of roughly 30 billion euros.
Merckle recently was credited with garnering a last minute bridge loanfor the interests, but he is also said to be one of the ones caught upon the wrong side of the exponential move seen in theVolkswagen-Porsche SNAFU of late-2008.
It appears that Merckle killed himself by stepping in front of atrain, although we won’t go into further detail for many reasons.
Financial loss is starting to take on new extremes.
Jon C. Ogg
January 6, 2009