In a surprising twist to the legacy of the iconic Hermès fashion dynasty, eighty-year-old billionaire Nicolas Puech is reportedly orchestrating a succession saga that has sent shockwaves through the world of high finance and luxury.
Puech, a fifth-generation descendant of Thierry Hermès, has initiated an unusual plan to designate his 51-year-old gardener, a member of a modest Moroccan family, as his rightful heir.
Unmarried and without children, Nicolas Puech’s decision to pass on his immense wealth and substantial real-estate properties to his “former gardener and handyman” has ignited intense speculation within financial circles.
With an estimated net worth ranging between $10.3 billion to $11.4 billion, Puech holds a considerable share in the Hermès fashion house, which is currently valued at $220 billion.
Legal proceedings, supported by a formidable legal team, have allegedly been set in motion to formalize the gardener’s adoption, a critical component of Puech’s revised estate arrangements.
The gardener, reportedly from a modest Moroccan family and married to a Spanish woman with two children, stands to inherit a significant portion of Puech’s fortune, including substantial properties in Marrakesh, Morocco, and Montreux, Switzerland, valued at $5.9 million.
The unconventional choice for an heir draws motivation from a bitter family rift that unfolded in 2014 when LVMH, a rival luxury conglomerate, acquired a substantial stake in Hermès. Puech’s departure from the company’s board during this tumultuous period signaled irreparable discord within the family. A spokesperson for Puech stated,
He resigned because he has felt for several years beleaguered by members of his family, who have attacked him on several fronts, not only regarding LVMH.
However, Puech’s unconventional plan faces formidable challenges. Reports suggest that such adoptions, especially in Switzerland, typically require a pre-existing relationship during the adoptee’s minor years, a condition that might be challenging to fulfill in this case.
Complicating matters, Nicolas Puech had previously committed his fortune to the Isocrates foundation, an organization he established to combat misinformation. Attempts to retract this pledge may trigger a fierce legal battle, mirroring past family feuds.
The foundation has expressed opposition to any unilateral cancellation of the inheritance contract, indicating a potential showdown between Puech’s unconventional maneuver and established legal commitments.
