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Hermès Heir Reportedly Sues Bernard Arnault And LVMH, Alleging $16 Billion Worth Of Hermès Shares Sold Without His Knowledge
Nicolas Puech alleges his wealth manager sold six million Hermès shares without consent, valued at €14 billion, amid LVMH’s decade-long stake build-up, with a French criminal probe ongoing.
- Nicolas Puech filed a lawsuit naming Bernard Arnault, LVMH, Eric Freymond and holding companies tied to both men.
- When LVMH began building its stake in Hermès over a decade ago, Bernard Arnault disclosed in 2010 he had quietly amassed a 23% stake, and the firms settled in 2014 with Arnault’s holding company retaining an 8.5% stake.
- Reporting cites a $16 billion valuation for roughly six million Hermès shares, which Puech alleges were transferred without his knowledge.
- A French criminal probe into the claims is underway, and prosecutors say only Eric Freymond is currently under investigation; Freymond died in July after being struck by a train in Switzerland.
- Bernard Arnault built LVMH by acquiring major brands like Sephora and Tiffany & Co., acquired in 2021 for $15.8 billion, while LVMH did not respond to Forbes' request for comment.
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19 Articles
19 Articles
The accusations: "I cheated, actions given without my consent by the financial consultant." Lvmh's reply: unsubstantiated accusations
·Italy
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Bernard Arnault is suspected of having bought 6 million shares from an heir of Hermes - equivalent to 14 billion euros today - under conditions that question.
·Paris, France
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Nicolas Puech, one of the heirs of the Hermès family home, believes that he was dispossessed of his shares by his former fortune manager for the benefit of LVMH and Bernard Arnault.
Why Does One of Hermes' Heirs Claim More than Eur 14 Billion From Lvmh and Its Boss Bernard Arnault?
Nicolas Puech, one of the heirs of the luxury Hermès brand, has taken legal action against his rival LVMH and his boss Bernard Arnault. He claims to have been spoiled by his fortune manager, who recently died.
Coverage Details
Total News Sources19
Leaning Left7Leaning Right1Center6Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 43%
Factuality
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