(NEXSTAR) – An 80-year-old heir to the Hermès fortune has an unconventional idea of how he wants pass down his massive wealth.
Nicholas Puech, whose mother is Yvonne Hermès, is a member of the fifth generation of one of the wealthiest families in the world. Puech’s real-time net worth is near $12 billion, according to Forbes.
He resigned from Hermès’ board in 2014, according to Forbes, but still owns about a 5% stake in the fashion and luxury goods company.
Originally, his wealth was set to be inherited by a philanthropy organization he founded called the Isocrates Foundation. But now it appears Puech has had a change of heart.
Puech is instead fighting to make a former employee his legal heir, Swiss news outlet Tribune de Genève reported this month. The would-be heir is described by the Swiss paper as a “doméstique” of Moroccan origin. CNN reports he was a former gardener, handyman and domestic worker for Puech.
Puech, who has no children, reportedly agreed to leave the entirety of the wealth to the foundation. However, if he has a child – or legally adopts an heir – that person would be entitled to at least half, leaving the foundation with a much smaller cut of the billions.
But the Isocrates Foundation, which gives grants to journalism and media organizations, isn’t letting go of the money without a fight.
“From a legal point of view, a unilateral cancellation of the contract of inheritance seems void and unfounded,” the organization told CNN in a statement. “The foundation has therefore opposed the cancellation of the contract, while leaving the door open for discussions with its founder.”
