German billionaire commits suicide

German billionaire Adolf Merckle committed suicide after his business empire ran into trouble in the financial crisis, throwing himself in front of a train near his home, authorities and his family said Tuesday.

The 74-year-old’s business interests ranged widely, including pharmaceuticals and cement, and his troubles had recently been compounded by losses on shares in automaker Volkswagen.

Merckle’s body was found Monday night on railway tracks at Blaubeuren in southwestern Germany, prosecutors in nearby Ulm said.

His family, which had reported Merckle missing after he failed to return home Monday, issued a brief statement saying that he had taken his own life. Prosecutor Wolfgang Zieher said a suicide note to the family was found, but its contents were not divulged.

Merckle’s holding company, VEM Vermoegensverwaltung, had been in talks with banks to secure credit after its business interests ran up high levels of debt and also lost value amid the global financial crisis.

In addition, the holding company recently said it had suffered millions of euros in losses on shares of Volkswagen, which fluctuated wildly last fall as fellow carmaker Porsche moved to increase its stake.

Merckle’s business interests included generic drug maker Ratiopharm International and cement maker HeidelbergCement.