An Hermes' heir tried

An Hermes' heir tried Hermes heirs missing fortune to give his entire fortune away to his gardener, only to find that he had nothing left It has been unfolding over years with a few recent plot For context, at a $200B market cap Hermes is worth almost as much as the entire LVMH empire, $270 B but across 75 brands And while they're traded, the still owned and managed by the family After a hostile takeover attempt by LVMH in 2011, the remaining family members pooled equity into a special partnership forbid them from selling 75% super majority for any change But 82 year old Nicholas was a little bit of a outsider After falling out with his cousins, he did not join the and instead kept his equity as paper stock certificates like physically held the the one who owned the So with no children and completely isolated from family, Puech had decided to Hermès billionaire wants to bequeath fortune to his former gardener as his sole heir succession that he doesn't actually have A fortune Turns out that Puech had signed management of his fortune to his financial manager, Eric Freeman Puech tried to sue Freeman, but the Swiss courts threw So while yes, the equity missing, it didn't indicate any sort of financial fraud deception At this point, you'd story would be over But last year, Puech entered a agreement to sell his equity 5.7% of Hermes or $14 B the Qatari royal family he knows he doesn't own his shares, but it's likely wanted to force the So if you're including sovereign participation and a royal family, it on the current owners to asset, but that didn't happen Instead, Puech lawyers admit that they didn't own the shares, and the Qatari royal family is suing $1.3 billion for breach contract The legal battle took a turn this year when took his own life after mounting pressure from the investigations, theory is that Freymond had been selling off this equity last 20 years to LVMH In a legal vice where he's being ued by investors for a fortune that he no longer has