With the slumping global economy, many people are falling into despair amidst the bleak situation.

On Tuesday, German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire.

Merckle, 74, died when he was hit by a train on Monday night leaving behind a suicide note to his family.

The billionaire was ranked by Forbes magazine in 2008 as the world's 94th-richest person and Germany's fifth-wealthiest.

His family controls a number of German companies including cement maker HeidelbergCement and generic drug company Ratiopharm.

But the empire was rocked last year by wrong-way bets made on shares in Volkswagen after a surprise stakeholding announcement from Porsche sent the VW share price rocketing as short sellers scrambled to cover their positions.

The family is reported to have lost hundreds of millions of euros on investments.