(2OceansVibe) - Hermès heir Nicolas Puech is suing LVMH’s Bernard Arnault, as well as the luxury conglomerate itself, to try to regain his alleged lost shares in Hermès, totalling around $16.3 billion (R278 billion).
Puech claims that his roughly six million shares in the luxury brand have gone missing, and now the 81-year-old has filed a lawsuit in a Paris civil court. Puech alleges that his former wealth advisor, Eric Freymond, sold his Hermès shares to Arnault without his consent.
According to Bloomberg, this alleged sale occurred during the 2010s when the LVMH boss was increasing his stake in Hermès International SCA. Puech, a fifth-generation member of the Hermès family, claims he entrusted the shares to Freymond, but their current location is unknown.
Puech had also filed a lawsuit against Freymond, who passed away in July.
LMVH and Arnault denied Puech’s claims, saying in a statement that the group had never owned or dealt with any undisclosed Hermès shares.
“LVMH and its shareholder firmly reiterate that they have never, at any time, diverted shares of Hermès International in any manner and that they hold no ‘hidden’ shares – contrary to the implications put forward by Mr Nicolas Puech, who has chosen to turn to the French courts after being dismissed on numerous occasions by the Swiss judiciary,” the conglomerate said.
Puech had previously taken Freymond to a Swiss court, accusing him of mishandling his shares. But in July 2024, the judge dismissed the case, saying that the Hermès heir had placed “blind trust” in his former wealth advisor and had willingly allowed him to manage his finances, even giving him access to his bank accounts.
Puech’s lawyer declined to comment.
One of the largest luxury brands in the world, Hermès is currently valued at $220.58 billion (R3.7 trillion), according to Yahoo Finance. The family heirs are also worth a pretty penny, with a combined net worth of around $155 billion (R2.6 trillion) last year, as per the Bloomberg Billionaires Index.
As insane as Bernard Arnault’s wealth might seem, it only puts him at number 7 on the top ten list. Crazy.
By Robb Report
December 5, 2025
