Hermès' Gen Z heirs become overnight millionaires thanks to soaring stock prices.
Birkins and Kellys—The key to generational wealth.
But is there trouble ahead? Luxury stocks face turbulence amid China's economic concerns.
Ah, Hermès: A name that has come to symbolize not only luxury but increasingly
a kind of intergenerational scheme where the prize is obscene wealth. The
latest to cash in on the family’s good fortune are the Gen Z offspring of Wilfried
Guerrand, a distant descendant of the luxury house’s founder Thierry Hermès. This is a tale of money, family and the irresistible pull of Birkins and Kellys. Read on.
Guerrand, who holds a role on the label’s executive committee, decided
it was time for his four children—Sixtine (25), Stanislas (20), Mathias (19),
and Albane (18)—to experience the joys of being fabulously wealthy.
How? By gifting each of them 450 Hermès shares, worth a whopping $4.3
million in total. Thanks to the skyrocketing value of Hermès stock, which has
surged over the past five years, the Guerrand kids became millionaires almost
overnight. And while most Gen Z-ers are perfecting TikTok dances or flipping
burgers, these four can now focus on the serious task of managing their new
wealth—or perhaps just hiring someone to do it for them.
Hermès—A Dynasty Worth Its Weight In Birkin Bags
The Hermès brand, originally founded as a harness-making business in
the 1830s, has transformed into a $151 billion empire with multiple family
branches (think Dumas, Guerrand, and Puech). These branches are less
“family tree” and more “family forest,” with over 100
people bearing the Hermès lineage. And they're not just surviving; they're
thriving—very, very well.
Take, for instance, Nicolas Puech, another member of the Hermès clan.
Worth a cool $13.6 billion according to Forbes, Puech recently made headlines
for his eccentric philanthropy, announcing plans to gift his entire fortune to
his gardener. Yes, you read that right—his gardener. But the plot thickens!
In a twist befitting a soap opera, Puech is now suing his former wealth
manager, claiming
the money has mysteriously vanished. You can't make this stuff up, folks.
Luxury Stocks on a Bumpy Ride
While the Hermès family is busy distributing wealth like candy at
Halloween, Europe's luxury sector is grappling with its own set of challenges. Stocks
of luxury giants, including Hermès, have taken a hit recently, spooked by
economic uncertainty in China—a key market. On September 5, shares of
Hermès dropped as part of a broader sell-off among European luxury stocks,
following concerns over China's economic slowdown and reduced consumer
confidence.
But don't let that fool you. Even as other luxury brands bemoan the downturn,
Hermès continues to defy gravity. In its June
half-year report, the company announced revenue of €7.5 billion, up 15% at
constant exchange rates. Sales in Japan, Europe, and the Americas remained
robust, even as China lagged. “The solid first‐half results in a more
complex economic and geopolitical context reflect the strength of Hermès’
model,” said Axel Dumas, the sixth-generation executive chairman of
Hermès. While other brands struggle, Hermès keeps riding high—proving that it
takes more than a little economic turbulence to knock a family this wealthy off
course.
Nepotism's In Fashion
Let’s face it, most of us don’t have a family tree that comes with a
balance sheet. But for the Hermès clan, nepotism isn’t just a dirty word; it’s
practically a job description. Guerrand himself, a long-time Hermès executive,
is just one of many family members with a golden ticket to the upper echelons
of the company. With a fortune in shares and decades of experience, Guerrand is
not only an heir but a key player in managing the brand.
As for the rest of the Hermès dynasty, they seem to have nailed down
the formula for preserving and multiplying their fortune, proving that you
don’t need a disruptive startup to get rich—you just need the right last
name. Forget bootstraps; this is all about Birkin straps.
The Hermès Way—Born Rich, Stay Rich
For most of us, the world of Hermès seems like a different planet—one
where leather handbags cost more than a new car, and where family members are
made millionaires at the drop of a hat (or rather, at the gifting of some
stock). And while the rest of the luxury sector frets over China's economic
slowdown, Hermès seems content to continue its role as the crown jewel of conspicuous
consumption.
So, what's the lesson here? If you're lucky enough to be born into the
Hermès dynasty, the chances are you won't just get a job, you’ll get a fortune.
For everyone else, well, there's always the chance of befriending Nicolas
Puech’s gardener.
Ah, Hermès: A name that has come to symbolize not only luxury but increasingly
a kind of intergenerational scheme where the prize is obscene wealth. The
latest to cash in on the family’s good fortune are the Gen Z offspring of Wilfried
Guerrand, a distant descendant of the luxury house’s founder Thierry Hermès. This is a tale of money, family and the irresistible pull of Birkins and Kellys. Read on.
Guerrand, who holds a role on the label’s executive committee, decided
it was time for his four children—Sixtine (25), Stanislas (20), Mathias (19),
and Albane (18)—to experience the joys of being fabulously wealthy.
How? By gifting each of them 450 Hermès shares, worth a whopping $4.3
million in total. Thanks to the skyrocketing value of Hermès stock, which has
surged over the past five years, the Guerrand kids became millionaires almost
overnight. And while most Gen Z-ers are perfecting TikTok dances or flipping
burgers, these four can now focus on the serious task of managing their new
wealth—or perhaps just hiring someone to do it for them.
Hermès—A Dynasty Worth Its Weight In Birkin Bags
The Hermès brand, originally founded as a harness-making business in
the 1830s, has transformed into a $151 billion empire with multiple family
branches (think Dumas, Guerrand, and Puech). These branches are less
“family tree” and more “family forest,” with over 100
people bearing the Hermès lineage. And they're not just surviving; they're
thriving—very, very well.
Take, for instance, Nicolas Puech, another member of the Hermès clan.
Worth a cool $13.6 billion according to Forbes, Puech recently made headlines
for his eccentric philanthropy, announcing plans to gift his entire fortune to
his gardener. Yes, you read that right—his gardener. But the plot thickens!
In a twist befitting a soap opera, Puech is now suing his former wealth
manager, claiming
the money has mysteriously vanished. You can't make this stuff up, folks.
Luxury Stocks on a Bumpy Ride
While the Hermès family is busy distributing wealth like candy at
Halloween, Europe's luxury sector is grappling with its own set of challenges. Stocks
of luxury giants, including Hermès, have taken a hit recently, spooked by
economic uncertainty in China—a key market. On September 5, shares of
Hermès dropped as part of a broader sell-off among European luxury stocks,
following concerns over China's economic slowdown and reduced consumer
confidence.
But don't let that fool you. Even as other luxury brands bemoan the downturn,
Hermès continues to defy gravity. In its June
half-year report, the company announced revenue of €7.5 billion, up 15% at
constant exchange rates. Sales in Japan, Europe, and the Americas remained
robust, even as China lagged. “The solid first‐half results in a more
complex economic and geopolitical context reflect the strength of Hermès’
model,” said Axel Dumas, the sixth-generation executive chairman of
Hermès. While other brands struggle, Hermès keeps riding high—proving that it
takes more than a little economic turbulence to knock a family this wealthy off
course.
Nepotism's In Fashion
Let’s face it, most of us don’t have a family tree that comes with a
balance sheet. But for the Hermès clan, nepotism isn’t just a dirty word; it’s
practically a job description. Guerrand himself, a long-time Hermès executive,
is just one of many family members with a golden ticket to the upper echelons
of the company. With a fortune in shares and decades of experience, Guerrand is
not only an heir but a key player in managing the brand.
As for the rest of the Hermès dynasty, they seem to have nailed down
the formula for preserving and multiplying their fortune, proving that you
don’t need a disruptive startup to get rich—you just need the right last
name. Forget bootstraps; this is all about Birkin straps.
The Hermès Way—Born Rich, Stay Rich
For most of us, the world of Hermès seems like a different planet—one
where leather handbags cost more than a new car, and where family members are
made millionaires at the drop of a hat (or rather, at the gifting of some
stock). And while the rest of the luxury sector frets over China's economic
slowdown, Hermès seems content to continue its role as the crown jewel of conspicuous
consumption.
So, what's the lesson here? If you're lucky enough to be born into the
Hermès dynasty, the chances are you won't just get a job, you’ll get a fortune.
For everyone else, well, there's always the chance of befriending Nicolas
Puech’s gardener.
Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.
Could Warren Buffett’s Treasury Hoard Signal Trouble Ahead?
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Don't miss out on our latest videos, interviews, and event coverage.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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