Source: Jeremy Moeller / Getty
Hermès Heir Awarding 51-Year-Old Gardener $11b Fortune, $5.9m In Properties Nicolas Puech, the 80-year-old estranged Hermès heir, has caused controversy.
He recently revealed he would adopt his 51-year-old former gardener and handyman to inherit $11 billion. According to Entrepreneur, Puech owns 5.7 percent of the luxury brand and is the grandson of its founder.
But he rarely sees his wealthy relatives. According to the magazine, Peuch is unmarried and childless but considers the gardener (whose identity has been suppressed) family.
The gardener has a Spanish wife and two children and is “from a modest Moroccan family.” Peuch gave notice of his intention to award his gardener his fortune in a handwritten letter, but there are legal hurdles.
The Tribune de Genève reports that adopting an adult child in Switzerland is difficult, especially when transferring billions.
After LVMH’s hostile takeover bid, Puech departed Hermès’ board, causing conflict with his family about a decade ago.
Hermès is France’s third-largest publicly traded firm, worth at least $200 billion.
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