Produced by: Tarun Mishra Designed by: Manoj Kumar
Nicolas Puech, an unmarried billionaire and heir to the iconic Hermès fashion dynasty, is making headlines for his unconventional decision to adopt his 51-year-old gardener and transfer him an estimated fortune of $11 billion along with properties valued at $5.9 million.
Nicolas Puech, aged 80 and without children, is orchestrating a remarkable succession saga by legally designating his "former gardener and handyman" as his rightful heir, said a report by Swiss publication Tribune de Geneve.
As the fifth-generation descendant of Thierry Hermès, who founded the luxury fashion house in 1837, Puech holds a significant stake in the now $220 billion-valued Hermès company, ranking among Switzerland’s wealthiest individuals.
Nicolas Puech has reportedly initiated legal proceedings, backed by a formidable legal team, to formalise the adoption of his gardener.
The gardener, part of a "modest Moroccan family," is reportedly married with two children of his own. His inheritance will include substantial properties in Marrakesh, Morocco, and Montreux, Switzerland, valued at $5.9 million.
Nicolas Puech's history with Hermès sheds light on the motivation behind selecting his gardener as the heir. A family dispute arose in 2014 when a rival luxury conglomerate, LVMH, acquired a substantial stake in Hermès, leading to Puech's departure from the company's board.
The adoption, however, faces legal challenges, given the uncommon occurrence of adult adoption in Switzerland. Requirements for such adoptions typically include a prior relationship during the adoptee's minor years.
Nicolas Puech had previously committed his fortune to the Isocrates foundation, established to combat misinformation. Attempts to cancel this pledge may result in a legal battle between Puech and the foundation, as it opposes any unilateral cancellation of the inheritance contract.
The Isocrates foundation, responding to potential changes in Puech's will, has expressed opposition to the cancellation of the inheritance contract.
Reports indicate that the adoption move might function as a legal strategy to counter any intervention by the foundation in Nicolas Puech's will.