German Billionaire Suicide: Otto Beisheim Kills Himself Due To Incurable Illness, Connected To Adolf Hitler's Camp In WWII

German billionaire Otto Beisheim, committed suicide after being diagnosed with an incurable illness. The co-founder of retail group Metro was found dead at his home in Bavaria Monday.

The 89-year-old is the co-founder of the fourth-largest retailer that brought the concept of  "cash and carry", warehouse-type shops that trade with customers like hotels and restaurants to buy products in bulk.

In a statement Metro Chief Executive Olaf Koch said, "With his self-service cash-and-carry concept, he revolutionized the sector in the mid 1960s."

In 2012, the German based company had turnover of 66.7 billion euros ($89 billion). However, last year the billionaire's company had a rough patch and issued a profit warning and eventually lost its place in the Dax index of leading German shares. The company lost 15 percent of its shares due to Internet retailers and the euro zone debt crisis.

A Beisheim Group spokeswoman said that the company had no plans in selling the billionaires near-10 percent share. Coming in third behind Haniel and Schmidt-Ruthenbeck families, among largest shareholders.

In 2012, the 22^nd richest man in Germany was estimated at $3.3 billion by Forbes. Beisheim left behind a widower and his assets will be split between two foundations to foster cultural and business projects. On the other hand of living a lavish lifestyle of wealth, the noble billionaire has been connected Adolf Hilter's Waffen-SS during World War II.