An aging Hermès heir’s push to cut out his charitable foundation — and bequeath part of his $13.2 billion fortune to a gardener he wants to adopt — has led the organization to contest his bizarre decision, according to a report.
Nicolas Peuch, the 80-year-old black sheep of the French family that founded the fashion house, created a stir earlier this month by announcing he wanted to adopt his 52-year-old gardener — who has two kids with a wife from Spain, as The Post reported.
The childless recluse initiated legal proceedings, supported by a formidable legal team, to formalize the gardener’s adoption, which forms a crucial part of his revised estate arrangements.
However, the philanthropic organization he founded in 2011, called the Isocrates Foundation, is battling to halt the cancellation of the inheritance contract, Bloomberg reported Wednesday.
“From a legal standpoint, the abrupt and unilateral annulment of a succession agreement appears void and unfounded,” Isocrates said in a statement to the outlet.
“The foundation has opposed this move, while leaving the door open to discussion with its founder and president,” it added.
Isocrates — which funds public-interest journalism and a “healthy digital public space” — has since moved to distance itself from Bloomberg’s report.
A statement on its website said the foundation “deplores the fact that confidential exchanges have been published without its knowledge or consent.”
“Likewise, the Foundation vigorously condemns any allegation or insinuation relating to the private sphere of the persons mentioned. The Foundation firmly distances itself from the content of these articles and will refrain from further commenting on them.”
The Post has sought comment from Hermès.
Jörn-Albert Bostelmann, Puech’s lawyer, did not immediately respond to The Post’s request for comment.
Bostelmann told Bloomberg he may hold a press conference “to separate the fact from the fiction and to dispel some of the nonsense that has been reported in the media.”
Not much is known about Puech’s ties to the unidentified gardener or how long he has worked for the fifth-generation descendant of Hermès founder Thierry Hermès — other than the landscaper comes from a “modest Moroccan family,” according to the Swiss newspaper Tribune de Geneve.
The lucky worker stands to inherit a significant portion of Puech’s fortune, which includes properties in Marrakesh, Morocco and Montreux, Switzerland, valued at $5.9 million.
Puech founded Isocrates with an initial donation of $11.5 million, which a document outlining Isocrates’ statutes says: “Under no circumstances will the assets of the Foundation be returned to the founder, to his heirs or donors.”
He also reportedly vowed to pass on his immense wealth to the group, though he’s now making the unorthodox decision to award his considerable share in the now $220 billion-valued company to his gardener — a move that’s sparked intense speculation.
Puech’s owns 5.7% stake in the family company, part of the more than two-thirds of the luxury-goods maker that’s still owned by the founding family.
Puech triggered a family rift in 2014 when he refused to pool his holdings with dozens of other relatives — led by his brother Bertrand Puech — to tighten control over the brand and repel luxury rival LVMH, which acquired a substantial stake in Hermès.
Puech’s departure from the company’s board amid the turmoil signaled irreparable discord with his kin.
“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,” stated a spokesperson for Puech at the time.
Puech’s unconventional plan faces formidable challenges, navigating complex legal hurdles for an adult adoption, an exceedingly rare occurrence in Switzerland.
Reports suggest requirements for such adoptions demand a prior relationship during the adoptee’s minor years.
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