German billionaire commits suicide
One of top 100 richest people in world, Adolf Merckle ran into deep financial trouble with his companies amid the economic crisis.
NEW YORK (CNN) -- German billionaire Adolf Merckle, one of the richest men in the world, committed suicide on Monday after his business empire got into trouble in the wake of the international financial crisis, Merckle's family said Tuesday in a statement.
Merckle, 74, was hit by a train in the southwestern town of Ulm, police said.
His family said the economic crisis had "broken" Merckle.
He was number 94 on the Forbes list of the world's richest people, with a business empire that included interests as diverse as cement-maker HeidelbergCement and generic drug-maker Ratiopharm. But he lost hundreds of millions of dollars, including company capital, betting against Volkswagen stock last year.
The state government of Baden-Wuerttemberg rejected his petition for financial assistance, and he entered bailout talks with several German banks.
"The financial troubles of his companies, induced by the international financial crisis and the uncertainty and powerlessness to act independently which the financial problems brought about, broke the passionate family business man, and he took his own life," his family wrote in a press release.
An employee of Germany's railroad company found the body on the tracks at about 7 p.m. Monday night and notified authorities. Merckle's family had already reported him missing earlier in the day after he walked out of the house and did not return. Authorities are currently conducting DNA tests to confirm his identity.
-- CNN's Frederik Pleitgen in Germany and Alysen Miller in London, England, contributed to this report. 
-
Anne Giapapas has a job in one of the 15 most overworked and underpaid professions. More -
These 5 businesses are offering their services -- from shoes to hair cuts -- to the unemployed. More -
These rising stars, like Facebook's Mark Zuckerberg, have great jobs to fill. Here's what they're looking for. More -
They graduated into the worst economy in decades. Here's how 11 grads are getting by. More -
Executives like News Corp. chairman James Murdoch raked it in. Where the other 19 rank. More -
These 5 cities have the fastest-growing foreclosure rates. And they're not the usual suspects. More
