An Hermès Heir Says His $13 Billion Fortune Has Disappeared

Hermès heir Nicolas Puech’s inheritance plan may be lacking one important thing—funds.

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The 81-year-old billionaire made headlines last year when he pledged to leave half his fortune to his former gardener after his death. Now, a Swiss court has thrown out Puech’s claims that his wealth advisor allegedly mismanaged his Hermès shares, valued at approximately $13 billion, leaving him with nothing, Bloomberg reported.

According to Puech’s lawyers, the heir owned about 6 million shares, making him the largest investor in Hermès International SCA history—though he know longer holds the assets. In the case, the fifth-generation heir accused his financial manager, Eric Freymond, of “gigantic fraud” over the two decades in which all of his shares were sold.

The court ultimately ruled against Puech’s allegations, noting that he had “blind trust” in Freymond and could have revoked his agreement at any time in the 24-month period. In addition, it found that Puech willingly allowed Freymond to manage his money, including giving the advisor access to his bank accounts. “It’s not clear who prevented the plaintiff from taking an interest in how his assets were evolving,” the court found.

Puech canceled his mandates with Freymond in October 2022 and, a year later, filed three different lawsuits against his former wealth manager, according to Bloomberg. The first case alleged that Freymond withheld information and wouldn’t return his Hermès shares. The other two had to with overseeing Puech’s charity, loans, and other investments.

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One of Europe’s wealthiest families, the Hermès clan has a combined net worth of roughly $155 billion, per the Bloomberg Billionaires Index. The French luxury design house, best known for its Kelly and Birkin handbags, was originally founded in 1837.

Puech fell out with his relatives over his reported role in the way rival LVMH CEO Bernard Arnault had built a stake in the company, according to Bloomberg. The heir ultimately left the Hermès supervisory board in 2014, taking his about 5.7 percent stake with him.

“He resigned because he has felt for several years beleaguered by members of his family, who have attacked him on several fronts, not only regarding LVMH,” a spokesperson for Puech told AFP at the time.

Since the ruling concluded on July 12, the whereabouts of Puech’s missing stocks are still unclear—but we bet a certain gardener is waiting for them to turn up.

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