The fifth generation heir of Hermes founder Thierry Hermes, billionaire Nicolas Puech, wants to adopt 51 year old gardener. While Puech is childless, he has came to the decision to give his fortune to someone who has been in his life for a long time.
Nicholas Puech, 80, owns 5.7% stake in luxury fashion house Hermes and has been known to be one of the wealthiest individuals in Switzerland.
In 2011, Puech founded the Isocrates Foundation, which is an independent philanthropic foundation, dedicated to the protection of public debate. He has came to the decision to cut all ties with the foundation and leave the bulk $12 billion to his gardener instead. This will include millions worth of properties in both Switzerland and Morocco.
After hearing news of breaking ties with the foundation, the Isocrates Foundation took it into the legal hands. They found this to be “void and unfounded,” which led them to oppose the move and 0pen the door for discussion with the founder and president.
When Puech first established the Foundation, he donated 10 million Swiss francs ($11.5 million) of his funding.
Unfortunately, there was a document outlining the Isocrates Foundation that states “Under no circumstances will the assets of the Foundation be returned to the founder, to his heirs or donors.”