Nicolas Puech, an 80-year-old descendant of Thierry Hermès, the founder of French luxury brand Hermès, has initiated the legal process of adopting his former 50-year-old unnamed gardener and plans to leave him half of his 12 billion euros (£10.3 billion) fortune. Puech’s decision has triggered a public spat with the Isocrates Foundation, created by his family, which has announced opposition to his decision to cancel the inheritance contract. The foundation, with Puech as president, is based in Switzerland and focuses on funding public interest journalism, media organizations committed to investigative journalism, and civil society organizations working towards responsible digitalization.
The unnamed gardener is of Moroccan origins, married, and has two children, referred to as Puech’s “children” and “adopted son.” Puech, who owns about 5.7% of Hermès’ shares, has no biological children. The Isocrates Foundation had a 2011 agreement with Puech to fund the protection and promotion of public debate.
The foundation stated that it “isn’t in a position to judge the process or context” of Puech’s decision to adopt his former gardener, but it opposes the abrupt and unilateral annulment of the succession agreement, deeming it void and unfounded. Despite the opposition, the foundation expressed openness to discussion with its founder and president.
This development adds another layer to the Hermes family saga, with Nicolas Puech accused of betraying his family when he did not join dozens of relatives, led by his brother Bertrand Puech, in pooling their Hermes shares to tighten control over the firm and repel Louis Vuitton Moët Hennessy, which had stealthily acquired a stake.
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