Herm¨¨s heir who planned to leave billions to gardener now reveals fortune is gone
In a dramatic turn of events, Nicolas Puech, an heir to the Herm¨¨s fortune, who made headlines last year by planning to leave half his fortune to his former gardener, now claims his billions have vanished.?
Wealth of Herm¨¨s' heir 'disappears'?
Puech, 81, filed court documents alleging that he no longer possesses 6 million shares of Herm¨¨s, valued at approximately $13 billion, and implicated his long-time wealth manager, Eric Freymond, in the disappearance. This shocking development was first reported by Swiss investigative news outlet Gotham City.
However, a Swiss court dismissed Puech's allegations earlier this month, describing the alleged fraud as "undetectable to common mortals," according to Bloomberg. The Tribune de Gen¨¨ve added that while the stock was deposited in a Geneva bank in 2012, the shares' current whereabouts are unclear.
Geneva's Public Prosecutor's Office had previously declined to investigate Puech's claims. The court's decision on July 24 supported the prosecutors' choice. Puech's lawyers, Gr¨¦goire Mangeat and Fanny Margairaz, stated to Business Insider that they were "in the process of studying the criminal file in detail," and refrained from further comments.
Billionaire announced his gardener as his heir in 2013
Previously, Puech owned 5.7% of Herm¨¨s, making him the largest individual shareholder. His decision to bequeath his multibillion-dollar fortune to his former gardener marked a significant deviation from his original plan to leave his inheritance to the Isocrates Foundation, a nonprofit he founded to support public-interest journalism.
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The gardener, who has worked for Puech for decades as a residence manager, is 51 years old, originally from Morocco, married to a Spanish woman, and has two children. Sky TG24 reported that this unnamed gardener stands to inherit considerable assets, including properties in Marrakesh and Montreux, valued at $5.9 million.
All about?Herm¨¨s family
Herm¨¨s, founded in 1837 by Thierry Herm¨¨s, began as a harness workshop in Paris and grew into a global luxury powerhouse. Under the leadership of descendants like ?mile Herm¨¨s and Robert Dumas, the family business expanded into luxury goods, including the iconic silk scarf. The brand flourished under Jean-Louis Dumas and later Axel Dumas, reaching a valuation of $220 billion by December 2023.
As per a report in lifestyleasia, the Herm¨¨s family, Europe¡¯s wealthiest, comprises over 100 members, with significant shares held by about 16 heirs. Nicolas Puech, cousin to Jean-Louis Dumas, maintained a minority stake despite not joining the family¡¯s H51 holding company. His decision to leave a substantial portion of his wealth to his gardener highlighted his distinctive path within the family's wealth narrative.
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