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
Harvey could not believe that the contestant could say that with her family around.
1 hour ago
The family aced three Fast Money rounds in a row to cash out big
1 hour ago
The donors poured in millions to support the Trump affiliated super PAC MAGA Inc.
21 hours ago
These reports come at a time when consumer sentiment seems to be improving.
22 hours ago
The lawmakers called the probe 'coercive' demanding a congressional investigation into the DOJ.
22 hours ago
The player bizarrely named "Jeopardy!" in a totally unrelated question.
1 day ago
Seacrest expressed that the player had no way of solving the puzzle with the clues on the board.
4 days ago
Harvey had to shut every contestant up who thought it was a good answer.
4 days ago
Citing affordability as the key issue, the president announced the cap will be rolled out on Jan 20.
4 days ago
The Jonassen family finally aced the Fast Money Round, after a wait of 43 years.
4 days ago
The CRFB estimates the plan would add $5.8 trillion to the national debt over a decade.
4 days ago
Big names like Costco, Reebok, Revlon, Ray Ban, and more have filed lawsuits seeking tariff refunds.
5 days ago
It is clear what Harvey thinks will be a popular gift at the bottom of the cereal box.
5 days ago
Analysts have shared their outlook on stocks that will be in focus for 2026.
5 days ago
Harvey thought that the answer had to be on the board, and he was surprised.
5 days ago
It's safe to say that Harvey didn't think people had the habit of tidying up in the morning.
6 days ago
Harvey was a bit harsh in telling he player that he almost had no chance of winning $20,000
6 days ago
Harvey got lost in the moment and thought the contestants were yelling at him.
6 days ago
Becoming a Costco member comes with a lot of perks like great offers on premium products.
6 days ago