- Nicolas Puech, a fifth-generation heir to the Hermès luxury empire, is making headlines for his unconventional decision to adopt his former immigrant gardener
- Puech's plan to cancel a pre-existing inheritance contract with the Isocrates Foundation has sparked controversy and legal disputes
- The foundation is contesting the unilateral cancellation of the contract, citing its void and unfounded nature from a legal perspective
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Nicolas Puech, an 80-year-old scion of the famed Hermès family and a billionaire, is making waves by initiating the adoption process for his middle-aged former immigrant gardener.
Puech's plan involves diverting at least half of his substantial wealth to his employee, challenging the expectations of traditional inheritance.
Swiss newspapers were the first to report on this extraordinary development earlier this month, describing the potential heir as Puech's "servant, former gardener, and handyman."
The Isocrates Foundation, an organization founded by Puech in 2011 to support public interest journalism and a healthy digital public space, is now embroiled in a legal dispute over Puech's decision to alter the terms of his estate.
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The Isocrates Foundation issued a statement expressing its opposition to the cancellation of the inheritance contract, citing legal grounds.
The foundation, however, maintained a neutral stance on Puech's desire to adopt his former employee, leaving the matter to be decided by the relevant authorities.
Puech, who does not have any known children, had originally designated the Isocrates Foundation as the recipient of his Hermès shares through the inheritance contract.
The contract includes an intriguing provision stipulating that if Puech were to become a father, his child would be entitled to a share of the inheritance, with at least 50% allocated in the case of a son.
Hermès, known for its luxury goods such as silk scarves and leather handbags, has seen a significant surge in valuation post-pandemic, reaching nearly €211 billion ($230.8 billion).
Puech's 5.7% stake in the company is estimated to be worth around €12 billion.
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