Adolf Merckle

The German press is reporting that Adolf Merckle, who has been described as Germany's Warren Buffett, died when hit by a train. CNBC reported that Merckle committed suicide. He had lost a lot of money in a short squeeze on Volkswagen stock, but had reportedly obtained a bridge loan to shore up his investment company.

Adolf Merckle is dead. Adolf Merckle of Heidelberg Cement is dead of a suicide, in front of train, after the billionaire lost fortunes. Adolf Merckle’s family won’t say much about his death except “he ended his life.”Adolf killed himself in front of a train near Ulm, Germany and died Monday night.

The family of Adolf Merckle says the German billionaire committed suicide after his business empire got into trouble because of the global financial crisis. A brief family statement Tuesday did not give details on the circumstances of the 74-year-old's death. It said the problems his holdings suffered due to the financial crisis "broke" him and "he ended his life." Merckle's business interests included drug maker Ratiopharm International GmbH and cement maker Heidelberg Cement AG.