Hermès heir Nicolas Puech says his $13 billion fortune has disappeared. A Swiss court has thrown out his claim that his financial advisor is to blame.
An Early Version of Princess Leia’s Iconic Gold Bikini Just Sold for $175,000 at Auctionhalf 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,LVMH's Revenue Drops Amid a Slowdown Across the Luxury Sector: Report
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.
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 andCEO 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.
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