The Hermès Family: When $7 Billion Goes To Your Gardener
The Hermès Family's net worth soared to $151 billion in 2023 - while one heir is attempting to leave around $7 billion worth of shares to his gardener... by adopting him.
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TIMESTAMPS:
0:00 Introduction
2:20 Chapter 1: The Wealth of The Modern Hermès Family
5:42 Chapter 2: How Hermès Makes Money
9:03 Chapter 3: Thierry Hermès - The First Patriarch
11:39 Chapter 4: The Second Generation Takes Control
16:06 Chapter 5: Going Global With Hermès
20:06 Chapter 6: Saving Hermés From LVMH
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In the captivating saga of the Hermès family, a significant twist emerges with Nicolas Puech, the 80-year-old heir of the Hermès dynasty, contemplating an unconventional bequest of his substantial fortune.
Valued at approximately $13 billion, Puech's decision diverges from the norm of allocating wealth to family members or charitable foundations.
Instead, he contemplates entrusting a significant portion of his fortune to his gardener, a 51-year-old father of Moroccan descent, who has become an integral part of his life, akin to an "adopted son."
Initially, Puech intended to donate his entire fortune, including his 5.7% stake in Hermès, to the Isocrates Foundation, a charity dedicated to supporting journalism.
However, in a dramatic turn, he now seeks to redirect about $7 billion in shares to his gardener, considering adopting him to facilitate this transfer.
This decision stands at a crossroads, with potential implications for both the Foundation and the gardener's future.
The Hermès family, consisting of the Dumas and Puech clans, has crafted an empire in the luxury fashion world.
In 2023, their net worth surged by $56 billion, largely due to their control over Hermès, which saw its share value increase by 35%, boosting their overall fortune to an estimated $151 billion.
At the forefront of this success is Axel Dumas, a sixth-generation family member, who has propelled Hermès to new heights since becoming CEO in 2014.
His focus on international expansion, especially in Asia, has been instrumental in the brand's growth.
Bertrand Puech, Nicolas' brother, has also played a vital role in maintaining Hermès's independence, notably fending off a potential takeover by LVMH and its founder Bernard Arnault.
The family, consisting of over 100 members, collectively owns a significant portion of Hermès, reflecting their deep influence over the company's direction and legacy.
Looking to the future, the Dumas side of the family plans to launch a family investment structure in 2024, indicative of their strategic diversification and enduring impact in the luxury fashion industry.
The Hermès brand, renowned for its exclusivity and craftsmanship, has thrived by maintaining a low marketing profile, focusing instead on invitation-only sales and exceptional product quality.
This strategy, coupled with the rarity of their products, particularly the Birkin and Kelly bags, has led to an appreciation in their value, distinguishing Hermès in the luxury market.
The story of Hermès, from its inception by Thierry Hermès in 1837 to its current global prominence, is a tale of adaptation, innovation, and familial stewardship.
It's a journey marked by strategic diversification, exceptional craftsmanship, and a steadfast commitment to luxury and exclusivity.
In this context, Nicolas Puech's potential decision to pass on billions to his gardener is not just a personal gesture but a reflection of the unique and sometimes unpredictable nature of family legacies in the world of high fashion and luxury.
Whether this decision materializes or not, it adds another intriguing chapter to the Hermès family's rich and storied history.
Пікірлер: 99
COMMENT: What is your opinion on the Hermès heir passing on his billions to his gardener?
@LittleMissDeeDee
4 ай бұрын
Well, it’s his money so he can decide how to distribute it and perhaps, the gardener made such an impact on his life that he felt it was his duty to repay him for his contribution to his life.
@robwilcox7284
4 ай бұрын
Not sure what I feel about the gardener getting some Euros, but it surprises me that the French and EU have not found a way to cap the value of wealth transfer above a certain value, yet. Then again, with the hidden-in-plain-sight influence of all these old-money families, maybe I’m not surprised…
@donaldlynch3283
4 ай бұрын
I’m a gardener and I think it’s wonderful.
@bethaminkhan4951
4 ай бұрын
Chances are that the gardener could never have qualified to get a Birkin..
@Mythoughtonpoliticaltopics
4 ай бұрын
Well, it is his money. And the garden has been by his said, I think its a great idea. And he to can get in the Hermès company.
I love this, I think it’s adorable and I think that the people working to help support your personal life are a huge contribution to your success when you’re operating at that level
Crazy crazy. You won’t believe me but my dad knows Nicolas Hermes. Long story he has bought large part of my village which is on the seaside of North Morocco. 🇲🇦
@Trying_trying
4 ай бұрын
Although I am British 🇬🇧 I am of Morocan 🇲🇦 decent. He wanted to by some land one time. My entire family is from this village although we don’t know the Gardener as he is from France. 🇫🇷 but yeah too many stories I have of him as he has built huge mansions in my Village. I never met him but my family who have speak well of Nicolas Hermes.
@Trying_trying
4 ай бұрын
There are a lot of people in my village who have nice houses and mansions but when I saw his I was like wow 😮 it’s literally about 4/5 acres he made his own river basically and his own golf course.
@deSechelles
Ай бұрын
What is the name of the village
Hi I am very happy for the Gardener, the family will always make money. I wish someone would help me out like that, I would be super happy.
There is enough money in the pot. I think the gardener deserves to be given this gift
One thing to add: Nicolas Puech is the biggest individual shareholder of Hermès who wants to inherit the half of his net worth to his gardener. However, Nicolas Puech was also the only family member, who voted for the Hermès acquisition by LVMH when Bernard Arnault held 23% of Hermès. In order to avoid the takeover from LVMH, all Hermès family members founded a trust and freezed their shares to protect their voting rights and their brand. Nicolas Puech did not join the trust. So.. even if the gardener gets $7 billion, there is no impact on the shareholder structure. I am proud to have Hermès in my stock portfolio.
@ortenciafigueroa2782
4 ай бұрын
Muy.ustedes.si.basilan.con.tantas.historia.
When Karl Lagerfeld said, ‘If you’re going to throw money out the window, throw it with joy!!’ , he must mean this guy.
His money, he should give to people he cares about and cares about him.
I like the wholly story. The most I love from HERMES are the bags and scarfs. Thank you for your work.
No way unless the gardener was his long time lover so he wants him taken care of after his death. Another possibility is if the gardener is his secret son.
@USA79999
4 ай бұрын
See roses and look for a coffin
?? Gotta say, as a guy, I can't imagine the level of anger and humiliation the daughters of the Hermes family must have felt, to simply be dismissed and denied a position in the family business, (because you are just a girl) while your husband or your sisters husband is offered a position in your fathers company and eventually inherits control, (while you are forced to sit back and watch, like a piece of furniture.)
@renatastec5212
4 ай бұрын
Probably they were very happy, as they could live a life of luxury without having to stress.
I was hoping to see some of the gardeners work like what was shared in Dame Murdoch home in Australia. Gardeners can boost the environment, homes...shops.... with their design, creativity...enhance value of the real estate...bring inspiration......if he has done all this, then he deserve it.
Very thoughtful and carefully told presentation. Thank you for the education into this part of the world that mainstream media only gives the general public rare and curated glimpses of. I trust that the small bit about the gardener will be only a comma in the saga of Hermes.
@sujitsinghpardeshi2093
3 ай бұрын
Hey Jenni,,I am also a Gardner,,donate some of your fortune to me also😊😊
@jennyandrievna4627
3 ай бұрын
@@sujitsinghpardeshi2093 Funny I too am a gardener.
The gardener knows how to make his eggplant grow.
Entertaining but that didn’t explain why he wanted to donate his fortune to his gardener.
Wonderful story. Thanks for a very thorough study of the Hermes, family empire and its struggles to keep it's brand from being diluted by it's competitors/predators. It is a story well told. Bravo!!!
Its product was an OBSESSION but absolutely NEVER an Essential NECESSITY in Life
I think that if the gentleman wants to leave it to his gardner, thats his business and with the legacy of the Hermes brand, it will be inconsequential. Lets hope the gardner does something meaningful with his new found wealth.
Well interesting, it completes my informations about this Family, where I have been working as a nurse for Jean R. Guerrand, his Wife Aline and his son Jèrôme. Well why do Nicolas Puech changes his mind. This gardner has already been gifted generosly. There must be some revange behind it. The Guerrand were always very generous with me. Wasn't it a Puech who sold his Papers to LVMH? Thanks
I wish they would bring back the original Parfum d’ Hermes !!!!!
Gardener? Hhhmmm there is some kind of underlying “partnership”.
Much love from south Africa.
Sometimes when media points us to a particular story, they intend to cover up a bigger story.
SUPERB show! Thank you.
@oldmoneyluxury
3 ай бұрын
Our pleasure!
No, it's not wrong to give that much money to someone who was loyal to you for so many years of service 😊.
supper supper generosity ❤❤❤❤❤
Fascinating
@oldmoneyluxury
4 ай бұрын
Thanks Veronique!
Nice story 👍🏿
Well presented. Great wealth for the deserving gardener. I wish someone would send me some wealth…I’d enjoy it and cherish too.
I wouldn't leave my billions to no family or friend members at allll, I would spend every penny on own😂😂😂
I am the poorest of the poor I would love to meet Mr, Nicolas Puech maybe he'd help me too, never look at people of a menial job, Mr Puech you are the World's hero. I love you so much
Based on the title alone, I'm in the wrong business 😂 Eta- after watching this, this is strangely wholesome ❤
He did what made him happy, shouldn't that be the question.
It's his money!
Isn’t the young patriarch a picture of hans wildorf of rolex?
They just have to treat the gardener and his family right , meaning don't be too stuck-up and all shall be fine.
How did he do that, seeing as though the maximum amount total that anyone can give to anyone (excluding non-profits) is currently around 12 million. After that, huge federal estate taxes come out. Sometimes almost as much as half.
Can't afford the bag, but invested in the company.
With the billions the amount of money left to the Gardner is drop in the bucket!
It's not like rich people have affairs with the gardener. At least this one's getting paid for his devotions. He was like a sn to me😂
@cindymaceda2999
4 ай бұрын
Lady Chatterley’s lover.
I'd say the gardner was watering mire than a garden. But thats ok. He git what his , ahem, friend thought he deserved
Given to Capable Lawyers, They can use that Influence that Money Brings to Hijack Governments & Run a Country from the Sidelines 😂😂😂
I love videos like this. As for me, I will not buy one of their bags but I will invest in the company
makes you wonder what his relatives really did to not be in the will
(Seriously, no one yet??) I should have become a gardener....
@oldmoneyluxury
4 ай бұрын
😂
Why is your Closed Caption so inaccurate? It is very annoying! JIM 🤔
The gardener has dig deep and reap billions $
If it won't hurt the company, it is a good gesture. Though it must be stated that it should benefit for the better rather than wasted. For, it's easy to spend money that which, you have not hard earned. But if, it might tip the scale and hurt the company. It is an unwise decision.
Respeto da la età di 17 anni con mio nonno ya zappabo là terra nos daba di mangiare è sfamava fino là Contea durò lavoro e forza ottimismo in Dio ? Nessuno ti regala niente devi respetare tuo stesso ,
Hermès link, ice blue mink
If it was me and my family didn't really need any more money as they were already rich then why not leave it to someone less fortunate. I dream of a secret person to leave me £4 million not like it will ever happen I'm 62 and it's not come true yet 😢
I came from vermes to hermès
Do the Bin Laden family next
We do not know what this man went through. His gardener might be more than a gardener. he could have helped with with paperwork. When he was sick he did of lot of things, Instead of being happy for him someone made a comment maybe the gardener could not afford one of the bags. That was very low down. God put people in people's lives for a reason. Maybe the gardener did not have a family and Mr Hermès was there for him, As for me, I rather invest in stocks than go around trying to be this and that,
Profound impact or manipulation and taking advantage of an elderly man?
better in the hands of gardner as in of LVMH
@dressydress9726
4 ай бұрын
Unless the share of the gardener will eventually go to LVMH? Remains to be seen, yeah? For now, the story is just a piece of a bigger story to come.
I have a green thumb ❤
Why everyone wanna make a fuss who he leaves his money too? Luckily it's not to a dog or a cat.
Fame and fortune is just an illusion! Lord Jesus Christ is our true Savior 🙏🏼❤️🕊REPENT, believe in the Gospel, Be Born Again
I can never buy from a company run by men telling me what I can own.
Bayar tau jagan lupa Allah ada
My name is Sam Oates bideford and demi the dog
I have no children. I’d leave everything to female homeless shelters.
@thehouseofmillie
3 ай бұрын
Majority are owned and managed by Men. Deployable conditions and no maintenance.The money is used by the Executive board.
the gardener is f king this grandpa
Crap episode 👎
poor animals