Nicolas Puech
$17.3B
Born
Jan 29, 1943
Age
82
Source of Wealth
Hermes
Residence
Martigny,
Citizenship
France
Marital Status
Children
0
Education
- Nicolas Puech is a fifth-generation descendant of Thierry Hermes, who founded one of Paris' most famous luxury fashion brands.
- He resigned from Hermes' supervisory board in August 2014 but still owns just under 5% of the company; other family members together hold a majority stake.
- In September 2014, Hermes and luxury giant LVMH reached an agreement to distribute LVMH's 23% stake in Hermes to its shareholders.
- The agreement settled a four-year dispute launched when LVMH accumulated the stock without its rival's knowledge.
- It prompted speculation that LVMH CEO Bernard Arnault was planning a takeover.
- Hermes started as a saddle manufacturer.
- The company now generates about $10 billion in revenue through products including $20,000 Birkin bags, named after the British actress-singer, Jane Birkin.
- He announced in 2023 that he intends to alter his will to leave the fortune to his former gardener and longtime handyman.
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