Merckle had lost millions of dollars during the global financial crisis and killed himself by jumping in front of a speeding train on Monday. His death serves to lengthen the list of high profile investors committing suicide.

A professor of economic psychology at Berlin’s Free University Detlev Liepmann says “An industrialist losing a fortune on the stock market has different motives for killing himself than a father with six children who loses his job.” Liepmann further commented “Merckle’s livelihood was certainly not threatened by his risky investments but he was threatened by shame, a loss of face in society and a loss of honor.” Merckle was ranked as the fifth richest man of Germany.

Before him to go was the Frenchman Thierry Magon de la Villehuchet who was found dead on hiss office desk after having slit his wrists. The money manager had lost up to $1.4 billion of his client’s money in the Madoff scandal.

A psychotherapist in Frankfurt’s banking quarter, Gerrit Grahl said “People like Merckle may be highly motivated but also highly sensitive.” He treats more than four hundred patients each year and believes that bankers and managers are now topping the list,

Gerrit said “It’s unfortunate he killed himself because he could have been treated. Many other people in the same spot would say ‘to hell with it’. They’d look to save their own tail and wouldn’t think of killing themselves no matter what happens.”

The World Health Organization has also expressed its concerns over the dilemma caused to people as a result of the global economic crisis. The organization warned that the world could witness an increase in mental illness and suicides.

The director general of WHO, Margaret Chan said “There is clear evidence that suicide is linked to financial disasters, I am not talking about the millionaire jumping out of the window but about poor people.”