In a statement released Sunday by his family at his request, Sachs stated that he chose to end his life after finding that he was suffering from an incurable degenerative disease affecting his memory and ability to communicate.
"I always stand up major challenges," said the statement. He provided no details on the timing or circumstances of his death, but German weekly Focus reported that shot Sachs himself Saturday at his home in the exclusive Alpine Switzerland resort of Gstaad.
Sachs was born in rich industrial family in 1932 and used his inheritance insight and companies to finance a glamorous lifestyle that fascinated much in the Germany of war of the 1960s and 1970s.
German tabloids have his affairs with celebrities and friendships with artists such as Andy Warhol.
Sachs has also made a name as a photographer, documentary filmmaker and art collector. Swiss business magazine Bilanz estimated his fortune at 300-400 million CHF ($455 million of $340).
Sachs survived by Bardot, to whom he was married from 1966 to 1969, his third wife Mirja Larsson and their sons, Christian and Alexander, and his son Rolf from his first marriage.
A funeral will be held in the presence of close family.
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