A billionaire has reportedly begun the process to adopt his middle-aged gardener in order to leave him with a fortune for his inheritance.
Nicolas Peuch, 80, who is a fifth-generation descendant of Europe's richest family, the founders of French luxury goods company Hermes, is taking the unusual steps to ensure that his gardener gets roughly half of his €12 billion ($13 billion) fortune when he dies.
Peuch had previously made a contract to bequeath his fortune to the Isocrates Foundation which he had founded, but is hoping to make his employee his legal heir instead.
The independent philanthropic foundation, which protects and promotes public debate, is contesting Peuch's plan to change his will, having learned of his decision only recently.
The news had previously been reported by Swiss newspapers Tribune de Geneve and 24 Heures earlier this month, before the organization told CNN in a statement: "From a legal point of view, a unilateral cancellation of the contract of inheritance seems void and unfounded.
"The foundation has therefore opposed the cancellation of the contract, while leaving the door open for discussions with its founder."
Referring to reports from the Swiss media that Peuch wished to "adopt his employee," the charity said it wasn’t in a position "to judge or comment (on) this initiative," adding that it "leaves it to the relevant authorities to decide on this matter."
Peuch reportedly owns 5.7% of the luxury brand Hermes, which is loved by celebrities for its bags, most notably the Birkin which can sell for tens to hundreds of thousands of dollars.
Following the pandemic, Hermes was valued at €211 billion ($230.8 billion), making Puech’s stake worth around €12 billion ($13 billion).
Bloomberg reported earlier this month that the Hermes family is the world's third wealthiest - meaning Peuch's gardener could be set to become a billionaire himself if the process goes through.
Peuch had set up the Isocrates Foundation in 2011 to support protection of public debate, public interest journalism, and the promotion of a "healthy digital space".
He has funded the project since its inception, and since Peuch is not known to have any children, had an inheritance contract with the foundation reportedly promising that his shares in Hermes would be left to the foundation upon his death.
The only exception would be if he were to become a father, in which case his child would be entitled to part of the inheritance, making up at least 50% of it if he were to have a son.
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