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A few weeks ago we told you about the curious case of the eccentric millionaire heir of Hermés, who adopted the gardener of one of his estates in
A few weeks ago we told you about the curious case of the eccentric millionaire heir of Hermés, who adopted the gardener of one of his estates in Spain in order to inherit his entire fortune. In an unexpected turn of events, the gardener will still have an adoptive father, but It’s not that big of a legacy. as they believe.
Eighty-year-old millionaire Nicolás Puech is the fifth-generation heir to Thierry Hermés, the founder of the exclusive luxury fashion brand that produces cult pieces that only a lucky few can access.
According to Swiss media Tribune de Genève, in the fall of 2023, the millionaire filed three lawsuits in the Geneva courts against his former wealth manager Eric Freymond. Now a Swiss court has dismissed Puech’s accusations of mismanagement and fraud against the former wealth manager.
The millionaire inherited around 6 million Hermés shares worth of stock. 12,000 million eurosAccording to Swiss media, these shares were transferred to Swiss banks between 1998 and 2012, but their current whereabouts are unclear. The millionaire alleged that Freymond, who managed his fortune for more than two decades, had dishonestly embezzled his wealth.
According to the court ruling, there was no evidence that the financial advisor mismanaged Puech’s wealth or was deceived because he gave her unlimited control over her bank accounts and the freedom to deal with her assets.
Although Puech claimed he had no knowledge of the stock loss, the court concluded there was no evidence of fraud by Freymond. The judge emphasized in his decision that Puech’s “blind trust” in his manager did not necessarily amount to fraud.
The court ruled that Puech had never indicated that he did not understand what he was signing on behalf of his manager and reprimanded the millionaire for not paying more attention to the movements of his assets, claiming that the millionaire could have reviewed the agreement and canceled it, although he preferred not to do so if there was the slightest anomaly.
There is no doubt that Puech no longer controls the 6 million Hermès shares he inherited. Those shares, which made him the luxury company’s biggest investor, were sold and transferred under Freymond’s management.
At this point, the mysterious disappearance of the Hermés heir’s fortune has already taken on the atmosphere of a mystery movie. we miss a bad guyIn this case, we find no other role than Bernard Arnault, founder of the LVMH empire and the third richest man in the world. Forbes.
In 2014, Bernard Arnault attempted to buy Hermès, triggering a dispute with the Hermès family, who refused to give up control of the company to their main rival.
Nicolas Puech broke with the position of the family clan and was in favor of Arnauld’s entry into the company’s shareholding, which led the rest of the family members to suspect that Puech was behind the purchase of 23% of the company’s shares. This corresponded to more than $7.5 billion worth of shares. Arnault eventually withdrew his financial attack on Hermés.
Paradoxically, a year after Bernard Arnault’s “attack”, the Hermès group stated: I no longer knew where the shares were invested Request for information on the whereabouts of Nicolas Puech. Bloomberg When asked by an analyst during the company’s latest results presentation, Hermés chief executive Axel Dumas published that he still did not know whether Puech held shares in the company. “We have no way of seeing or controlling them,” Dumas replied.
Whether it was Bernard Arnault’s skill and financial shrewdness or Eric Freymond’s greed, the only thing that is certain is that Mysterious disappearance of 12,000 million euros The biggest problem with Hermés’ stocks is that the newly adopted gardener will never inherit them. A joy in a well. Another son of a millionaire who will not inherit his parents’ fortune.
In Xataka | An increasing number of millionaires are determined to spend their entire fortune before they die. They don’t want their children to inherit it.
Picture | Wikimedia Commons (Ecole polytechnique Université Paris-Saclay, Jérémy Barande), Unsplash (Anthony Fomin)
Source: Xatak Android
Ashley Johnson is a science writer for “Div Bracket”. With a background in the natural sciences and a passion for exploring the mysteries of the universe, she provides in-depth coverage of the latest scientific developments.
