51-year-old gardener to become French biz tycoon's legal heir; inherits $11 billion

In an extraordinary succession plan, that has caught attention of the business world, Nicolas Puech, the billionaire grandson of Hermès founder Thierry Hermès, is reportedly navigating a unique legal process to adopt his 51-year-old former gardener and pass on a substantial portion of his wealth estimated at 9 to 10 billion Swiss francs (between $10.3 billion and $11.4 billion).

According to Fortune, this move is part of Puech's broader effort to reshape the beneficiaries of his substantial estate, comprising around 5 per cent or 6 per cent ownership of the $220 billion-valued Hermès. The unnamed gardener, married with two children, is poised to inherit a significant share of Puech's wealth.

Puech has already handed over keys to properties in Marrakesh, Morocco, and Montreux, Switzerland, to his gardener, with a combined value of €5.5 million ($5.9 million), as reported by Italian outlet Sky TG24.

Puech's history with Hermès reveals underlying tensions, particularly his departure from the company's supervisory board in 2014 after a hostile takeover attempt by fashion rival LVMH. The feud with family members appears to have influenced Puech's unconventional choice of heir.

Puech faces challenges in realising his unconventional plan, as adult adoptions, especially in Switzerland where he resides, are rare and subject to complex requirements. Swiss adoption laws necessitate that adults can be adopted only if they lived together for at least a year when the adoptee was still a minor.

Nicolas Puech's philanthropic commitment to the Isocrates Foundation, dedicated to combating misinformation, adds a layer of complexity. The foundation's secretary general considers Puech's plan a "sudden and unilateral annulment of a succession agreement," potentially leading to a legal battle. Puech's decision aligns with the broader trend of billionaires planning to transfer trillions of dollars in wealth in the coming decades, as highlighted in a UBS study. While many follow conventional paths, Puech stands out by choosing someone from outside his immediate circle.

This unprecedented move by Nicolas Puech reflects not only a unique approach to succession planning but also the complexities and challenges that can arise in the transfer of substantial wealth. The legal intricacies and potential legal battles add a layer of drama to this billionaire's unconventional decision.