Nicolas Puech

Net worth over time

Biography

• 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.

Financial assets