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The tyrannical patriarch of Succession could learn a couple of things from Nicolas Puech.

The 80-year-old billionaire, heir to the Hermès fortune, is making headlines for his leftfield succession plan.

Like something straight out of a modern-day fairytale, Puech is in the process of adopting his former gardener, a 51-year-old man from a modest Moroccan family, as his legal child in part of a long-term strategy to bequeath his billions upon him.

He is handing over his estimated $11 billion USD fortune to his longtime employee – that’s R202 billion. Imagine.

The man is unmarried and childless, so there is hardly anyone else who really deserves his share in the mammoth Hermès brand, which is now valued at $220 billion. Puech descends from Thierry Hermès, the founder of the luxury fashion house established in 1837, and as a fifth-generation heir, he holds approximately 5% to 6% of the company, now ranked as the third-largest publicly listed company in France.

The identity of the extraordinarily fortunate gardener remains shrouded in mystery for now, but whispers tell us he is married to a Spanish woman and blessed with two children. According to reports, Puech has already showered his gardener with properties totaling a lavish €5.5 million. Among these luxurious gifts are a stunning home in Marrakesh and an exquisite villa in Montreux.

The move to adopt is fraught with complications. In Switzerland, adopting an adult comes with stringent legal hurdles, such as the requirement to have cohabited with the adoptee for at least a year during their childhood. How Puech plans to navigate this legal labyrinth remains unclear, but we all know that money has a peculiar talent for bending the rules, particularly in Switzerland.

Besides this, there is his philanthropic commitment to Isocrates, a foundation he established in 2011 dedicated to combating misinformation. The foundation has opposed Puech’s attempts to redirect his wealth, likely leading to a protracted legal battle.

Of course, Puech’s reason for giving his fortune to his gardener rather than his family is linked to familial strife. In 2014, he resigned from Hermès’ board following a hostile takeover attempt by rival LVMH, which exacerbated pre-existing family tensions, with Puech harshly criticized by his relatives.

He’s also not the first billionaire to bequeath his fortune to those less fortunate. The 31-year-old Austro-German heiress, Marlene Engelhorn, was also making waves not so long ago for changing the tide by splitting her fortune with the citizens of her home country.

While most billionaires distribute their wealth among offspring and philanthropic causes, Puech and Engelhorn’s unique choice shows that things can be done differently – and dare we say, better.

[source:dmarge]