[Trending News] One of the richest families in Europe has so much money that even a distant relative can be a millionaire

One of the richest families in Europe, the family behind Hermès International SCA continues to demonstrate its immense financial power. Wilfried Guerra, 53, a member of the Hermès executive committee, recently donated 450 luxury giant actions to each of his four children, making them millionaires.

The actions, which together total about 3.9 million euros, were donated to Sixtine, 25, Stanislas, 20, Mathias, 19, and Albane, 18.

Hermès' actions have performed remarkable in recent years, with gains of about 12% in 2024 and a value duplication since June 2022, even at a time when other sectors of luxury face challenges. The company, famous for the iconic Birkin and Kelly bags, in addition to its silk scarves, continues to resist economic crises, unlike some of its competitors.

Although Guerra is a distant relative of the Hermès clan, he is not a direct descendant of the brand founder, Thierry Hermès, who began his company in 1837. Guerra joined Hermès International almost three decades ago and, by the end of 2023, had 10,147 shares of the company.

The Hermès family is made up of three main branches: Dumas, Guerra and Puech, direct descendants of Thierry Hermès. With more than 100 direct heirs, the family's net heritage is estimated at 153 billion euros, according to Bloomberg Billionaires Index. Among the most influential members of the family are Axel Dumas, Hermès executive president, and Eric de Seynes, president of the Supervision Council.

The family strengthened their control over Hermès after the revelation in 2010 that Bernard Arnault, LVMH's founder and rival, had acquired significant participation in the company. Nicolas Puech, a fifth-generation heir residing in Switzerland, has moved away during this dispute and is currently involved in lawsuits and investigations into his possession of about 6 million Hermès shares.