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Puech's surprising legacy: Gardener set to inherit Hermes fortune

by Daily Sabah

ISTANBUL May 15, 2024 - 9:00 am GMT+3
The logo of the fashion house Hermes is seen outside a shop, Paris, France, April 15, 2024. (Reuters)
The logo of the fashion house Hermes is seen outside a shop, Paris, France, April 15, 2024. (Reuters)
by Daily Sabah May 15, 2024 9:00 am

Nicolas Puech, the 80-year-old heir of one of the world's largest fashion companies, Hermes, is recognized as the fifth-generation descendant of Thierry Hermes, the founder of the French luxury goods manufacturer. The 80-year-old billionaire Puech surprised his family and the entire world with a legacy decision regarding who would inherit his fortune – his gardener.

While the identity of the gardener, who is also a subject of curiosity, remains unknown, it is noted that Puech has had little contact with his family in recent years.

Puech, who owns 5.7% of Hermes, had previously stated that he would donate his wealth to a foundation. However, he later changed his mind and sent a new inheritance petition to the foundation. This unexpected decision sent shock waves through the foundation.

Due to the difficulties involved in leaving the inheritance directly to a non-family member, Puech is considering first adopting his 51-year-old gardener in the inheritance process. However, adopting an adult in Switzerland is a complex process, potentially leading to a risky legal battle.

Family challenges

Puech left the Hermes board of directors in 2014 following a hostile takeover attempt by fashion rival and a world leader in high-quality products, LVMH. However, he retained his shares, making him one of the wealthiest individuals in Switzerland.

With an approximate value of $200 billion, Hermes, France's third-largest publicly traded company, has frequently been the focus of media attention. However, this recent development has once again sparked curiosity about the future of the company's established family.

Despite being unmarried and childless, Puech has severed communication with many individuals connected to his family. The legacy decision made by the 80-year-old billionaire has caused significant turmoil within his family.

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  • Last Update: May 15, 2024 10:23 am
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