Adolf Merckle ranked, according to Forbes magazine, among the world’s 100 richest people. Yet the 74-year-old, who has become the most notable personal casualty of the credit crunch, had barely been heard of outside his native Germany until just two months ago – when a failed bet on Volkswagen shares led, ultimately, to his suicide last Monday night.

The story of his downfall is a tale of our times. It involves an entrepreneur who by last year was worth an estimated $9.2bn (£6.1bn, €6.8bn) after building an empire of 120 companies over four decades. The businesses together produced €38bn in annual revenues but were supported by interlocked, credit-fuelled transactions. Merckle was nothing if not a risk-taker.