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.

Gen Z heirs of Hermès founder become millionaires overnight after inheriting fortune https://t.co/kzdWik212d pic.twitter.com/bhROGShciz

— Independent Lifestyle (@IndyLife) September 6, 2024

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 Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term 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 Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term 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.

For more finance-adjacent stories, follow our Trending section.