ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Hermès Scion Stirs Speculation by Choosing Gardener as Primary Heir

The adoption process, however, faces uncertainty due to legal requirements...
UPDATED FEB 8, 2024
Cover Image Source: Hermes store in the Canalejas Galleries in Madrid, Spain. | Photo by Cristina Arias/Cover | Getty Images
Cover Image Source: Hermes store in the Canalejas Galleries in Madrid, Spain. | Photo by Cristina Arias/Cover | Getty Images

Nicolas Puech, an 80-year-old scion from the esteemed Hermès dynasty, is causing a stir with his unexpected plan to officially adopt his middle-aged gardener as his heir. As the fifth-generation descendant of Thierry Hermès, the visionary founder of the iconic luxury fashion house established in 1837, Puech's decision to adopt his 51-year-old former gardener came as a surprise to many.

Image Source: Instagram | puech_nicolas6
Image Source: Instagram | @puech_nicolas6

Unmarried and without children, Puech has announced his intention to legally adopt his "former gardener and handyman," a member of a modest Moroccan family, as his rightful heir. This unconventional decision, involving the transfer of substantial wealth and real estate holdings to his gardener, has become a topic of widespread speculation, capturing the attention of the public and the media alike. Supported by a legal team, Puech has initiated legal proceedings to formalize the adoption of his 51-year-old gardener, who hails from Marrakesh.

While specific personal details about the to-be heir are limited, it is known that he is married to a woman from Spain and has two children. The adoption process, however, faces uncertainty due to legal requirements mandating proof of a childhood bond between Puech and the intended adoptee. The outcome remains unclear, raising questions about whether the court will approve the adoption.



 

Puech, the founder of the Isocrates Foundation, is, however, entangled in a legal battle to cancel a contract that would designate the foundation as the recipient of his fortune upon his passing. Established by him in 2011, the foundation is contesting his decision to sever ties, asserting that the cancellation of the inheritance contract lacks legal basis.

The charity defers to relevant authorities to decide on this matter, maintaining a neutral stance on Puech's unconventional succession plan. The Isocrates Foundation, with its mission to support public interest journalism and civil society organizations contributing to a "healthy digital public space," faces potential disruption to its intended role as a beneficiary. The inheritance contract between Puech and the foundation stipulates that his shares in Hermès, amounting to 5.7%, are to be left to the foundation.

However, a unique clause allows for an exception if Puech were to become a father, in which case his child would be entitled to a share of the inheritance, particularly at least 50% in the case of a son. Hermès' current valuation stands at nearly €211 billion ($230.8 billion), rendering Puech's stake approximately worth €12 billion ($12.9 billion). The Hermès family ranks as the third wealthiest globally, which further elevates the significance of the ongoing legal dispute and the intricate dynamics within this affluent family.


 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

A post shared by Hermès (@hermes)


 

Implementing an extraordinary plan requires careful navigation of legal obstacles associated with adult adoption – a task complicated by the rarity of such occurrences in Switzerland. In a society where familial ties often dictate the course of legacies, Puech's decision challenges established norms, leaving us to wonder whether this unconventional tale will inspire a shift in the way we perceive inheritance and legacy in this world.

MORE ON MARKET REALIST
While the contestants believed they had the truth backing them, they also had great obstacles.
9 hours ago
The guest who expected the item to be worth $1,500 was visibly shocked after learning its true value.
18 hours ago
IHOP is a go to place for many who crave pancake in America and many turned up to defend it.
20 hours ago
Even the host, Drew Carey didn't believe what just happened and had to take a few steps backward.
22 hours ago
There have been instances when guests even lost their balance and gasped after the price was revealed.
1 day ago
Retail chains like Costco are usually reliable but sometimes, the products can be quite concerning.
1 day ago
O'Leary was told by the entrepreneur that he will rethink his decision when he sees graffiti anywhere.
1 day ago
The enthusiasm of contestants is seen both during games as well as celebrations that follow.
1 day ago
The case that could've been a waste of time actually made her day with a hilarious moment.
1 day ago
Drew Carey knows how to get the most out of a hilarious situation and that's exactly what happened.
2 days ago
People have also pointed out glitches on screen, showing how carefully they observe details of production.
2 days ago
Things have become a little weird on the show lately, with unusual questions popping up on the screen.
2 days ago
Dogs usually don't get a say in courtrooms but not every courtroom has Judy Sheindlin as the judge.
2 days ago
US-based Apple product owners could get paid per device if the settlement is approved.
2 days ago
The customer who was influenced by the "Tips for Jesus" movement, left everyone disappointed.
3 days ago
Baseball cards are highly sought after especially if they are vintage, which is what these were.
3 days ago
While some viewers on TikTok advised the woman to sue the fast food chain, others were divided.
3 days ago
The big wheel requires some skill and strength while a lot of it is about luck in the end.
3 days ago
Classic musical instruments might be out of circulation but they could still fetch a high price.
4 days ago
He even walked up to the contestant and made a gesture to slap them after an incorrect answer.
4 days ago