Hermès Executive Gifts Shares to Children

Wilfried Guerrand, a distant cousin of the Hermès founder, has made his four Gen Z children millionaires by gifting them 450 shares each of the luxury brand, totaling approximately $4.2 million. Guerrand, who has worked with Hermès for nearly 30 years and currently serves as vice president of IT and data, has a personal net worth of around $23.9 million. The value of Hermès shares has surged, making the company worth nearly €219 billion, significantly increasing Guerrand's children's wealth amidst a generally slowing luxury market. Each share was valued at €2,164 as of early September, reflecting a 10% increase this year. The Hermès family, including over 100 direct descendants of founder Thierry Hermès, holds a collective wealth of about $170 billion, solidifying their status as Europe's richest family. The brand, known for its exclusive Birkin bags, continues to thrive despite a downturn in luxury demand, with significant sales growth reported in recent quarters.