Written by 7:12 am Entrepreneurship Views: 0

Hermès Heir Desires to Give Half His $12 Billion Fortune to His Gardener | Entrepreneur

It’s Succession meets Knives Out—only this Hollywood-like plot is real.

Nicolas Puech, 80, the estranged Hermès heir, announced a daring plan to adopt his 51-year-old former gardener and handyman to bequeath him his $11 billion fortune. Puech is the grandson of the founding father of the style giant and owns 5.7% of the corporate.

According to the Swiss publication Tribune de Genève, the reclusive Peuch has little contact along with his family. Single and childless, he considers the gardener (whose name has not been released) to be like kin. Not much else is thought publicly concerning the gardener besides that he comes “from a modest Moroccan family” and has a Spanish wife and two children.

Related: ‘Wolf in Cashmere’ Bernard Arnault Has a Cutthroat Reputation. In a ‘Succession’-Like Drama, He’s Eyeing His Replacement — and It Might Not Be Family.

Reversal of fortune

Previously, Peuch promised handy over his money to his foundation. But earlier this yr, he had a change of heart, sending a “handwritten note” to the inspiration expressing his wishes for a recent succession. Shockwaves ensued.

With no direct heirs to his name, the billionaire may get away along with his plan. But not without major legal hurdles. According to Tribune de Genève, adopting an adult child in Switzerland is complicated—add that the adoptee stands to earn billions, and it becomes a high-stakes battle.

Bad blood

This shouldn’t be the primary time Puech has clashed along with his family. In 2014, he left Hermès board of directors after a hostile takeover bid by fashion rival LVMH. But he retained his shares, making him among the many wealthiest individuals in Switzerland. He now lives in a mansion with 66 other inhabitants in La Fouly, based on El Pais.

Hermès, now the third-largest publicly listed company in France value an estimated $200 billion, is not any stranger to the highlight. Still, this latest development has taken center stage, evoking questions and curiosity concerning the way forward for this storied empire.

(Visited 1 times, 1 visits today)
Close