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		<title>German Billionaire commits suicide in wake of financial crisis  German Billionaire commits suicide in wake of financial crisis</title>
		<link>http://www.spunkmedia.com/german-billionaire-commits-suicide-in-wake-of-financial-crisis-german-billionaire-commits-suicide-in-wake-of-financial-crisis.htm</link>
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		<pubDate>Wed, 07 Jan 2009 10:26:29 +0000</pubDate>
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		<guid isPermaLink="false">http://www.spunkmedia.com/?p=719</guid>
		<description><![CDATA[German Billionaire Adolf Merckle has been the latest name added to the list of individuals that have claimed their own lives as a result of losing their money in the global economic crisis. Many other executives in Europe and the U.S have committed suicide after having their spirits broken due to the financial fears enveloping [...]]]></description>
			<content:encoded><![CDATA[<p>German Billionaire Adolf Merckle has been the latest name added to the list of individuals that have claimed their own lives as a result of losing their money in the global economic crisis. Many other executives in Europe and the U.S have committed suicide after having their spirits broken due to the financial fears enveloping their minds and lives. <br />
Merckle’s massive business enterprise had been severely impacted by the economic turndown. His problems were further elevated with the heavy losses that were incurred in the trading of shares in the automaker giant company Volkswagen AG. The German businessman’s operations further expanded into the drug industry with Ratiopharm International GmbH as well as the cement maker HeidelbergCement AG.<br />
The victim’s family released a statement saying &#8220;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 act, broke the passionate family businessman.&#8221;</p>
<p><a href="http://www.spunkmedia.com/wp-content/uploads/2009/01/world3.jpg"><img class="alignleft size-medium wp-image-720" title="German Billionaire commits suicide in wake of financial crisis  " src="http://www.spunkmedia.com/wp-content/uploads/2009/01/world3-300x225.jpg" alt="" width="300" height="225" /></a> <br />
The concerned authorities mentioned that he had left a suicide note but the details of the note were not made public. The German billionaire’s death is the third such incident that has been reported since the global economic turmoil began to take its toll on businesses.<br />
The first of the high profile suicides came from the chief operating officer of private equity house Olivant, Kirk Stephenson. He killed himself by jumping in front of a train at a rail station in London. The 47 year old was killed in an instant leaving behind a widow and children. Stephenson left without writing a note. <br />
Rene Thierry Magn de la Villehuchet was the next to go. He was found dead at his desk with both his wrists slit along with a bottle of sleeping pills just two days before Christmas. He had lost over $1.4 billion in the Madoff scandal which turned out to be too much for the French man. His fund was amongst those that faced the biggest losses in the scandal. His brother said speaking to the press &#8220;He was totally ruined. At first he thought he&#8217;d be able to get the money back. He was very determined. Gradually he realized he wouldn&#8217;t be able to.&#8221; <br />
As the global economic crisis tightens its grips around the global economy there is no telling what to expect in the future.</p>
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