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Adolf Merckle committed suicide in January after amassing debt and lost money on wrong-way bets on the stock market last year, leading his son Ludwig Merckle to sell drug, machinery and cement assets.

Seventy-four-year-old German billionaire Adolf Merckle in January committed suicide after the conglomerate he controlled, with investments in pharmaceuticals, cement and other sectors, experienced problems related to the global financial crisis.

Billionaire Adolf Merckle committed suicide amid reports he lost 400 million euros by betting against VW.

BLAUBEUREN, Germany (Reuters) – German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.

(CNN) -- German billionaire Adolf Merckle, one of the richest men in the world, committed suicide Monday after his business empire got into trouble in the wake of the international financial crisis, Merckle's family said Tuesday in a statement.

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Ludwig Merckle is selling drug, machinery and cement assets after his father Adolf, who committed suicide in January, amassed debt and lost money on wrong-way bets on the stock market last year.

Ludwig Merckle is selling pharmaceutical, machinery and cement assets after his father Adolf, who committed suicide in January, amassed debt and lost money on wrong-way bets on the stock market last year.

Among the victims of the Porsche VW stock squeeze was a leading German industrialist, Adolf Merckle, who committed suicide in early January after losing hundreds of millions of dollars.

By Ambereen ChoudhuryJan. 22 (Bloomberg) -- Phoenix Pharmahandel AG , the Germandrug wholesaler started by Adolf Merckle , may be put up for salefor as much as 6 billion euros ($7.8 billion) following thebillionaire’s suicide, three people familiar with the talkssaid.

By Jana Randow Jan. 6 (Bloomberg) -- German billionaire Adolf Merckle committed suicide by stepping in front of a train a few hundred yards from the factory he founded 36 years ago.