Nicolas Puech, the 80-year-old fifth-generation descendant of the founder of renowned luxury brand Hermès, has reached the age where billionaires start having to think about what will happen to their fortunes after they die. Usually charitable foundations, children, and in some eccentric cases pets are among the biggest beneficiaries, but according to Swiss newspapers Tribune de Geneve and 24 heures, Puech is trying to leave at least half of his $13 billion fortune to an unnamed “middle-aged former gardener.”
Puech is attempting to legally cancel a previous contract between himself and his own non-profit organization Isocrates Foundation and make the employee, described as a “servant, former gardener and handyman” a legal heir instead.
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The Isocrates Foundation, naturally, is disputing Puech’s plan, and a spokesperson released the following statement:
“From a legal point of view, a unilateral cancellation of the contract of inheritance seems void and unfounded…The foundation has therefore opposed the cancellation of the contract, while leaving the door open for discussions with its founder.”
Puech reportedly has no children, and his inheritance plan has been described by Swiss media outlets as being a kind of legal adoption of the household employee, and the Isocrates press statement says they don’t want “to judge or comment (on) this initiative,” preferring instead to “[leave] it to the relevant authorities to decide on this matter.”
The foundation was founded by Puech in 2011, and is devoted to improving “healthy digital public space” through journalism and other community organizations. In the original inheritance contract Puech is attempting to cancel, leaves his shares of Hermès stock to the foundation. In the event that he becomes, or has become, a father, the inherited share goes down to 50 percent, hence the “at least half” part of the former gardener’s possible inheritance.
Puech’s stake in the almost $211 billion company Hermès is 5.7%, so it’s easy to see why the Isocrates Foundation would want to hang on to this inheritance.
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