This page has been archived and commenting is disabled.
Son Of Billionaire Steel Magnate Plunges To His Death Amid Demise Of UK Industry
Angad Paul, chief executive of Caparo Holdings, had done a lot of things in his 45 years.
He created the world’s fastest road-legal car, for instance. The Caparo T1.
He also executive produced the classic “Lock, Stock, and Two Smoking Barrels":
Aside from supercars and gangster movies, Paul was, to quote FT, one of the Midlands’ leading industrialists as the head of Caparo Holdings. He was the son of Lord Paul, the 84 year old billionaire steel magnate who's one the UK's wealthiest people. Paul replaced his father as CEO nearly two decades ago. He was married to lawyer Michelle Bonn, 40, in 2005, and lived at his family's home in Marylebone with his parents, Lord and Lady Paul
We're using the past tense here because on Sunday, Paul tragically fell from "high up" at his home in London. He was pronounced dead at the scene. Here's the statement from a Met spokesperson:
“London ambulance service and London’s air ambulance both attended and the man, believed to be in his mid-40s, was pronounced dead at the scene.
“London fire brigade have also been called to the scene to assist with the recovery of the body. The man’s next of kin has been informed, although we still await formal identification. Enquiries into the circumstances of the incident continue but it is being treated as non-suspicious at this stage.”
The timing of the "accident" raises questions. Caparo was placed in administration last month in what was characterized as a "shattering, devasting hammer blow" to the UK's steel industry. For those who might have missed it, The Telegraph reported the following in mid-October:
"The crisis in Britain’s steel industry could be about to claim another victim, with parts of Labour peer Lord Paul’s Caparo empire under enormous pressure.
Caparo Industries, a major producer of steel products with 1,800 staff across 20 sites, was understood to be looking at all funding options over the weekend.
Lord Paul – one of the country’s 50 wealthiest people, with a fortune estimated at £2bn – has a large stake in the privately-owned business through its parent company, Caparo Group.
And then, two days later, there was this (again from The Telegraph):
Britain’s beleaguered steel industry has been dealt a “shattering” and “devastating hammer” blow after Caparo Industries went into administration, with doubts over the future of its 1,700 staff.
The global business, which has about 20 sites in the Midlands as well as operations sites in India and the US, filed for administration as pressure on the steel industry intensifies.
The problems at Caparo, first revealed on Monday by The Telegraph, came ahead of an announcement expected on Tuesday from Tata that it will slash up to 1,200 jobs at its steel plants in Scunthorpe and Scotland. It follows the closure of SSI in Redcar with the loss of 2,000 jobs.
Britain’s largest union, Unite, warned of a “domino effect” in the steel industry, as it renewed calls for the Government to step in to support the sector following Caparo Industries’ collapse.
“This is yet another hammer blow for steel and manufacturing communities already reeling from the closure of Redcar and job losses at Tata,” said Tony Burke, the union’s general secretary. “Ministers need to ask themselves how many more steel firms need to go to the wall before they step in. Failure to act could lead to a 'domino effect’ taking hold across the industry.”
Finally, more color from FT:
Caparo, which comprises about 20 companies, was placed in administration last month, leading to the loss of 323 jobs and the closure of Black Country plants at Darlaston, Dudley and West Bromwich.
Its activities range from the forging and pressing of metal products for aerospace, automotive and other industries. It also produces fastenings, wire, tubes and other accessories.
The UK company is part of a global network of businesses under the Caparo name, with operations in China, India and the US.
In addition to steel, Caparo’s global business is also involved in product development, materials testing services, hotels, media, furniture and interior design, financial services, energy and private equity investment.
PwC, the administrators, said at the time of their appointment that 1,700 West Midlands jobs were at risk.
It isn't difficult to guess how this came about. Excess capacity in China (a topic we've covered exhaustively) and the now ubiquitous exported deflation effectively killed the industry:
Business Secretary Sajid Javid has called for an EU-wide emergency summit on steel. This is due to be held with the next fortnight. At the event he is expected to campaign for European consent to the UK’s early introduction of the energy compensation package and for co-ordinated EU action to stop China dumping excess steel on international markets.
From BNP, earlier this year:
As a reminder, ArcelorMittal just reported a massive loss attributable to the same dynamic. As we noted on Friday, the obvious implication of China's excess capacity problem is that the country will simply export its deflation...
Given that, it shouldn't come as any surprise that the world’s biggest steelmaker suspended its dividend and cut its outlook.
Here's more from Bloomberg:
The world’s biggest steelmaker on Friday cut its full-year profit target and suspended its dividend, putting the blame on the flood of cheap steel from China’s loss-making mills. The market is being overwhelmed with material coming from the nation’s state-owned and state-supported producers, a collection of industry associations said Thursday.
“It is obvious that we are operating in a very challenging market,” Chief Financial Officer Aditya Mittal said on a call with reporters. “This is essentially the result of very low export prices out of China that are impacting prices worldwide.”
The steel industry has been roiled by the slowest economic growth in two decades in China, the biggest consumer.
The flood of cheap exports from the nation has drawn complaints from Europe and the U.S. that the shipments are unfair. Bloomberg Intelligence estimates Chinese steel shipments overseas will exceed 100 million metric tons this year, more than the combined output of Europe’s top four producing countries.
While demand for steel in the company’s largest markets of the U.S. and Europe is recovering, producers’ profits are being hit by slumping prices because China has been pushing excess supply onto the world market as its economy slows.
So again, we're seeing disinflation (the exact opposite of what DM central bankers intended when they decided to expand their balance sheets into the trillions) as global growth and trade enters a new era, characterized by a systemic slump in demand. Here's the damage in terms of the Arcelor's equity:
And here's more from The New York Times on the impact of Chinese "dumping:
“The Chinese are dumping in our core markets,” Mr. Mittal said. “The question is how long the Chinese will continue to export below their cost.”
The company’s loss for the period compared with a $22 million profit for last year’s third quarter.
ArcelorMittal, which is based in Luxembourg, also sharply cut its projection for 2015 earnings before interest, taxes, depreciation and amortization — the main measure of a steel company’s finances. The new estimate is $5.2 billion to $5.4 billion, down from the previous projection of $6 billion to $7 billion.
On a call with reporters, Aditya Mittal, Mr. Mittal’s son and the company’s chief financial officer, said that a flood of low-price Chinese exports was the biggest challenge for ArcelorMittal in the European and North American markets.
The company estimates that Chinese steel exports this year will reach 110 million metric tons, compared with 94 million tons last year and 63 million tons in 2013. ArcelorMittal produced 93 million metric tons of steel in 2014.
Of course when the standing government policy is to roll over bad debt and avoid SOE defaults at all costs, uneconomic producers can and will continue to produce. This means the deflationary impulse ArcelorMittal cites isn't likely to dissipate anytime soon.
So, it would appear that Paul is the latest "casualty" of the worldwide commodity downturn, the global deflationary supply glut, and the habitual exportation of deflation. It will be interesting to see what, if any, impact this rather morbid wake up call has on Downing Street's "courting" of Xi.
»
- 844 reads
- Printer-friendly version
- Send to friend
- advertisements -
Jumped you fuckers!
Feel better?
How can the UK steel industry be failing, when The Fed just bailed out the entire UK just a few years ago?
Central bank drawings on Fed swap lines
Somewhere nearby there was a guy named Shekelstein waiting to scoop up options to take over the controlling interest.
What is Angad Paul's latest movie project?
Guys,
China has boomed into a $17 trillion economy and is in the midst of a hard/soft landing...
Now watch in awe as India booms into the worlds largest economy.
Whilst China has passed its Lewis Point, India has another 30 years of demographic fueled expansion ahead.
India is China 2.0
The boot print on the seat of his pants remains unexplained.
a real hammer blow..
I'm in shock that the UK still has a steel industry... apparently Thatcher's financialization of the UK economy experiment is not yet complete.
P.S. Never marry hot blonde lawyers if you plan on living...
You beat me to it. No idea there even was a steel industry left in the UK.
http://www.standard.co.uk/news/london/son-of-billionaire-steel-magnate-lord-paul-dies-in-fall-from-marylebone-penthouse-a3109741.html
< ...and nothing of value was lost.
< What a tragedy!
Prolly ruined his Rolex
interesting, ain't it, how all these rich fucks just can't ever bare to face the thought of living like the 99% of the rest of us. Scares those pussies so bad that they can't even go on living. I guess they know they'd be the first to be taken out anyway once they can no longer afford to hide from all of us or pay for armed special ops security gaurds to protect them. Wouldn't last 2 minutes along with the rest of us after the shit hits the fan, that's for sure.
That blond must be praying big-time this doesn't end up a suicide or most likely those millions of his life insurance policy she thought she was gonna get are bye bye!
And really???? Seriously???? Ya gotta see this pic:
she probably helped push him over the edge in more ways than one.
She was definitely into him for his looks!
He initially won her over with his ability to make her laugh.
/s
...all the way to the bank
that goes without saying...
but a good looking blond lawyer married into lordy high-end...
you underestimated ptb.
Roger Rabitt?
yup, noted his trousers and the absence of taste in colour co ordination.
if she or anyone else cared theyd have not alowed him to dress himself:-)
all that money and so little class.
Money and superficial relationships aren't everything, apparently.
Exactly ^^^ my thoughts . Especially when born into it. Oh the dread of living like the rest of us. Well that's one down.
hot blonde wife is now laughing all the way to the bank, 5 mill per session for sucking his curry smelling 3 inch dick?
If you do not like him a small dick is merciful.
That sounds like the voice of bitter experience.
Or, I would suppose, if you are a back door girl!
...but if he had a big dick, you would probably like him more.
amirite?
Urp.
If the guy had any honor, he would have shot himself in the back of the head with a nail gun six times.
Free Trade is not Free of bully boys
Maybe he got drunk and fell off the balcony. It was "existential despair" as Krugman would say.
He lost his narrative and thought he found it over the balcony?
With any luck he broke a bunch of windows when he fell. Jobs, jobs, jobs...
Hmm, Scunthorpe, now where have I heard that werd before?
...as are the 6" nails in his head.
Not sure what that has to do with the article, but India isn't going to make it that far. Their new Messiah has done nothing to stop the central banks, so he's just another puppet.
Aside from that, the economy of India is almost entirely parasitic on other economies. When the economies of America and China crash, India will be on her own.
Yes, she will crash, too, but she won't reach the heights of China and America.
The central banks have put an end to that play.
Jim Rogers was hoping the emerging economies would be the next big investment for a few decades at least. Here they are dying a convulsive death after only a decade.
He didn't understand that the damage that central banks inflicts on economies is both exponential and accumulative. There is no cleaning the slate until the central banks are eliminated.
so lets say idia is the next big economy...who the fuck are they going to sell stuff to...? me...i aint got no credit left...hahaha. oh wait. remember china was going to have a massive middleclass so maybe india will too...LOL.
Indias growth does not depend on exports like China. Yes Indias rich and middle class are growing rapidly.
nosam - ever heard the phrase 'its different this time'....aaah probably not.
Never happen. India suffers from wrong type of government. Hasn't anyone noticed that a democratic government is wonderfully inefficient.
I wouldn't know. I've never seen a democratic government. If you have, please enlighten us.
Just keep in mind....democracy and central banks are mutually exclusive.
Depends on the democracy and the quality of the people. Dipshits today are indoctrinated through their public schools and universities that the CBs are the second coming to Big Government.
They've got the wrong kind of power Infrastructure... as in None..
"...wonderfully inefficient."
Read: Overwhelmingly corrupt and owned by the very worst the world has to offer.
Hmmm. so demographics is destiny. The Chinese had better make up for lost time under the one-child policy: maybe they should instigate a mandatory three-child policy. In ten years the economy may be back on track.
lol. This is hilarious.
A huge percentage of the Indian population still believes in magic. Another huge percentage believe that getting a government job is the goal of life as it allows you to skim the private sector through graft.
The caste system and rampant government corruption are the anti-thesis to growth. These two things are a cultural foundation of India.
If you believe bloomberg, India and Modi cannot fight their way out of a wet paper bag. According to them there will be no reform now and no prosperity, but more religion, the great guarantor for all things irrational and no progress or prosperity. India's clocks work differently, they couldn't even stage the miserly Commonwealth Games. Don't waste your wet paper bag.
Australian iron ore prices have halved, so of course Chinese steel is cheaper. Bad luck.
The Descent
Meridian Lines (2013) - as the occultists follow - was the latest complete work. http://www.imdb.com/title/tt0811613/plotsummary?ref_=tt_ov_pl
What was his current project?
The Descent II: 3D
That's freaking funny.
I thought you had to do II and THEN 3D, though, so the numbers go in order.
3D is three-dimensional film, all the rage nowadays for a lifelike experience.
I was always more a fan of the Double D.
Prefer Double Hs myself, and lucky bastard that I am, that's what I get to have :D
That's a 2009 film released in 3D.
Curious as to what he was workng on.
HAHAHAHAHAHAHAHAHAHA. Take a bow.
A remake of "Man on a Ledge', new working title "Man on a Ledge 2 - the pavement splat"
What is Angad Paul's latest movie project?
The "Fall" Guy
Gravity Strikes Back
Gravity! Its not just a good idea, its the law!!!
Lived at home with his parents. Loser.
Live by the sword, die by the leap. Works for me.
Nelson says "HA HA!"
Like any good high level narcissistic sociopath, I would have expected that he would have alot of his wealth parked in places like jersey etc., so the demise or transformation of his main compnay, although embarrassing and somewhat costly, would not have been a mortal financial wound. Lord knows I doubt he gave a shit about the common folk.
There are good wealthy people. However, what he was probably embarassed about was shaming his father.
Destroying the company that your father built is a heavy thing to take. Maybe it's a good thing that the common people have nothing to leave to their kids. Their kids can become greater morons without having to worry about the consequences.
Did he piss of #1/Blofeld/Bankfine? And whom is blondie kissing now?
DIE more ASSHOLE!
JumpYou Fuckers indeed:
Mittal?
http://www.forbes.com/sites/kenrapoza/2013/05/26/lakshmi-mittal-taking-m...
Angad Paul?
http://www.telegraph.co.uk/news/uknews/law-and-order/11983254/Son-of-Lor...
As the late great pianist Glenn Gould opined: " Well, who the hell said it was supposed to be fun anyway?" and "I guess I am just too delicate for this world."
https://www.youtube.com/watch?v=h7qtyCl7ysE
Gould died a week after his 50th birthday. In hospital.
The Gould Bach Concerto was a revelation! Thanks, ajax.
"The Gould Bach Concerto was a revelation! Thanks, ajax."
Nice. Happy to oblige, Bob, but that is just the Allegro. The entire Concerto is on film. There is life out there.
Things have come to a pretty pass when we have to go to "Youku" to see/hear "Ford Presents: The Creative Performer". A USA legacy of culture which you cannot even find anymore in the USA. Go to Amazon Japan to buy the full 5 dvd set!!! Can you even believe this shit!?? WTF??!! Amazon Japan for "Ford Presents..."!!!
Keep in touch Bob. We are putting the entire program up on youtube within the next month - 5 weeks.
Was there a nail gun found near the scene?
Those are reserved for bankers
Plunges? Kind of sounds like he was a stock
If this is the beginning of a trend, me heartily endorses it.
Thought he was the sacred steel cow perhaps?
PPT must've been on a coffee break ?
Rich kids need to be taken out of the loop they are in and thrown in with average kids for a few years as they grow up. Maybe age 8-11. As it is, they totally lack perspective. And that's a very sad problem. To think that somebody that has it all ends up like this, it makes no sense. No wonder so many in the top 0.5% are so out of touch. Even if they don't choose to be.
lots of such rich kids are quite insecure and feel guilty knowing well they inherited everything and thinking they can never be as good as their fathers. A friend of mine's brothers (in the US) overdosed (they come from a rich and famous family).
I used to know the son oof the Queen's secretarty who was quite a nice and educated guy. He endd up clinically depressed (as far as I remember in the institution) - we tried to understand why that happened and we thought it was to do with how his family treated him as if he was worthless and dumb (which he was not). I 've seen many examles like that both in the US and UK. Strange parents that shoudl never have had any kids
Years ago when I lived in London (close to Merylebone) I was cycling through Hyde Park and the newest Lambourgini hit into a taxi (because the road started curving slightly at that spot which the driver of the Lamburgini did not anticipate - he was going very fast I still remember the noise a few seconds beofore that happened - like 50 big motorbikes together). He almost hit me and rear-ended a taxi parked there.
There were 2 guys in the car - I think dead on the spot looking like the guy from the article. I called the ambulance and police. Taxi looked intact while a half of that lamborgini looked as if a steam roller went over it
London is full of such rich 'kids'with expensive cars
"I think dead on the spot looking like the guy from the article."
OMG......were they related?
Correction: He had it all.
Most likely, the Lord Paul family equity stake stands eviscerated by Goldmanesque funny paper. Not a chance that fast cars and movies can fill the old funding gap.
"Most likely, the Lord Paul family equity stake stands eviscerated by Goldmanesque funny paper. Not a chance that fast cars and movies can fill the old funding gap."
Eviscerated by Goldmanesque funny paper. Quite right. In point of fact, fast cars and movies are just a symptom of a family fortune "gone wrong". Gee, who could have imagined??
They call it "unlocking value", but it is really unleashing morons.
"They call it "unlocking value", but it is really unleashing morons."
:D :D "Who let the dogs out?" - no youtube link because I can't stand the fucking shit.
near the end his perspective was increasing at 32ft per second per second
Dead Billionaire Playboy?
One is a Good start
what?! he had to get by on only $1 million a year instead of 100M?
It's the difference between vacationing on the Riviera vs slumming it in Hawaii.
million a day...just couldn't imagine living on so little.
Hmmm, I seem to recall that it was Mittal and other Japanese steel producers, who in the early 80's, unmercifully dumped steel here in the US and the rest of the world, now the shoe is on the other foot...
I remember the acres and acres of stacks of steel ingots the size of railroad flatcars ---huge amount of cheap Japanese that some speculator in Philly bought for cents on the dollar and stacked it on vacant land by the docks. It was there for quite a while till the price went up----
The rewards for selling your soul to be an agent of The Great RED Dragon is that sons die before their fathers. Ask Corzine, Madoff and others.
and others...
Abraham?
The Christian God as well?
ihvh has a particular taste for blood sacrifices
Just hit Ctrl P, nothing to see here.
I guess life's just not worth living as a mere multi-millionaire.
Almost like the time Robert Maxell fell off his boat
re: Robert Maxwell, born Ludvík Hyman Binyamin Hoch,in the old
Czechoslovakia, was very interesting character
Q. What's the difference between Robert Maxwell and Popeye?
A. Maxwell got to Mount Olive first.
Robert Maxwell was a very interesting character to say the least!
Suicide or suicided?
At this point, what difference does it make?
Who knew this would happen to a country that produces nothing but mortgages and derivatives?
Awesome accomplishments, he had enough money to pay people to build a really fast car and more people to make a movie. Gives me goosebumps.
green energy = kill steel
green energy = kill aluminum
green energy = kill manufacturing
Green energy = CO2 tax
you turn your electrical grid into a "jobs program" for "green energy" for every job you create you kill 10 jobs that use energy.
He should have gone long on Momentum Machines
Whatever. They can just print moar steel magnate kids, right?
poor steel maggot, I mean magnet, I mean magnate.
i could give a mother fuck- man...
"And Jesus said to His disciples, "Truly I say to you, it is hard for a rich man to enter the kingdom of heaven. Again I say to you, it is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of God."
You left out the part were He said: "I feel sorry for the bastards; i really do."
Or was that from the Matrix or something?
You left out the part were He said: "I feel sorry for the bastards; i really do."
no i didnt.
I guess he Post-Birth Aborted Himself. It's his right to choose!
https://en.wikipedia.org/wiki/Right_to_die
Nailguns available in the lobby to assist, should that be needed.
It's even harder for a camel jockey....
Supposedly a mistranslation. They used camel hair to make rope. It makes more sense.
btw "eye of a needle" is the name of entrance gates in Jerusalem
"On a long enough timeline, the survival rate for everyone drops to zero"
British steel producers main rival is other euro steel producers of higher quality product.
Me thinks the main reason for closure is British energy policy.
The industrial sabotage of Drax coal station and others is the key.
Oh Lordy
THE UK IS NOW THE TOP IMPORTER OF BIOMASS PELLETS IN THE WORLD.
See Uk energy trends publication Septembe,, special feature
The cost and indeed real loss of energy is gigantic
ty
See? Even billionaires live with their parents past the age of 40.
Looks like any other sand nigger... O well
When Black Friday comes;
I'll stand down by the door;
and catch the grey men
when they dive from the 14th floor;"
https://www.youtube.com/watch?v=SbjFbGwsXak&list=PL97F6E52E079591E8
or was he married to a black widow? maybe she was tired of him fucking up the company.... and look at the guy, whata troll. she married for money.
makes me wonder though......all these ghost cities in china might be for the 1% that fake death and reloacte before the big rest comes.
2 Billion is chump change in the Goldmanverse
But if Lloyd let him off, da guys on da street would tink he was goin soft in da head.
" For what shall it profit a man, if he shall gain the whole world, and lose his own soul ".
We have only the short time that we are alive, to reject the pattern of this world- and conform to Christ.
"Son Of Billionaire Steel Magnate Plunges To His Death"
Obviously no match for the Deep Capture used by myself to rid the entire World of these Fascist Corporatists, eh.
Who will be next on the MASTER OF UNIVERSE shit list of Corporatist S C U M M O N E Y W H O R E S ?
Paging Lloyd Blankfein?
Paging Mr. Blankfein?
The elevator to the Penthouse on the roof is now available, Mr. Blankfein.
Wife is a gold digger
Wife fell in love with his inner charm.
because all hot tall blonds gravitate towards fat short men.
Beat me to it, and you put if far more succinctly than I would have.
Standard Disclaimer: Trying not to speak too harshly of the dead...he also produced "Snatch" which is also worth a watch.
And for you males out there looking to comfort the grieving widow... http://www.newmedialaw.biz/michelle-bonn/
I am glad to see, that dark, black, sick humor, still pervades the innermost recesses of the Hedge. ;-)
Size matters, especially when it comes to bank accounts.
How high did he bounce .... sick socialist mofos ?
The euro consumer war economies have had a very good year, car sales are up massively
I do not buy this narrative.
Much of European heavy goods trade orbits the North Sea
Most of the UK real goods deficit comes from.Europe rather then Asia.
The London boys policy is to finish the green belt around London - see England.
It will then be a nicer place at the weekends after a hard day in the office manipulating something or other
ions
Iro
Droogs,
If China...
This is more than a pattern. It is the plan, and they are doing this right in front of western noses while the corrupt leaders and stupid people in the UK and US watch dancing with the Fucking Stars and Futbol games.
But don't tell any one, its our secret.
Anyone for Chinese? I'm famished.
Those who seek peace through pacifism will be defeated and live subservient lives.
Life is war, survival a battle, peace a delusion.
We rest at our own peril.
Stupid fuckers.
germany delivered complete steel mills out of the now defunct steel belt to china
no need to send kids to university, they just bought mountains of plant-stuff from the heart of industrilisation.
check google earth for duisburg ruhrort or essen bredeney and around and switch on historic pictures. square mile after square mile deindustrialized planes.
a lot of the stuff went straight to china.
germany did built all the weapons for ww2 there, amongst other things
Get ready. Bankers look set to crash the markets and come in with fresh fiat and buy for pennies in the dollar. Nice gig if you can get it. Beats working 9-5
No nail gun? This is crazy.
The nail gun man cometh
Another nail gun "accident" coming in 3, 2, 1...
HE WAS FAT AND UNATTRACTIVE. THE CAPTION HEADING SHOULD HAVE READ
"FAT UNATTRACTIVE SON OF BILLIONARIE DIES LIKE EVERYONE ELSE"
HOW ABOUT DEM APPLES?
What happens to the car? She won't want it.....
Its probably a "stick shift" and not her taste. As a lawyer, one can't wonder but who she will sue.
Please note, free trade is not all that smart if you wish to keep key strategic industries pumping. Sure, the lowest cost steel is the best value, but what happens in ten years if your steel industry is toast and China decides it doesn't like you? I offer that sometimes - not always of course - trade barriers and protective tariffs make sense. Now might be one of those times. But given the free-trade ideological idiocy sweeping our policy makers, it might be a good idea to short the domestic steel sector.
Watching a fortune disintegrate must have been more than he could handle. Life offers so much more than material wealth. What a tragic death.
RIP Angad Paul.
It's interesting that there are so many allegations of dumping against China. Dumping usually involves a country protecting their domestic market against imports, then flooding foreign markets with product. China's domestic market for steel also sucks, but the state aid could certainly still qualify as dumping.
this guy did not kill himself over the company doing shitty, no way, he had too many other interests and i'm sure a pile of money in switzerland somewher protected by complex trusts. He could have filed for bankruptcy and split to anywhere in the world or stayed where he was and fucked off.
Is it possible he actually still has had a soul and a heart that had a little compassion left in it and he just felt terrible about what was happening? Ummmmmm, no fucking way!!!!!! Absolutely agree with you. There's more to this story.
But none of it will ever come out.
maybe he got a call by his doctors.
gunther sachs (a famous european industry playboy)
killed himself in fear of upcoming dementia/alzheimer
there are more examples of "rich and happy" ones suiciding before the bitter end