€14 Billion Feud: Hermès vs. LVMH

Imagine 14 billion Euros vanished. That's twenty trillion Korean Won! This is the shocking claim from an heir of one of the world's most famous luxury houses against the richest man in Europe. We're talking about Hermès versus LVMH, a feud that has just exploded back into the Paris civil court.

Nicolas Puech, a fifth-generation heir of the Hermès family, is alleging that six million of his valuable shares, worth around 14 billion Euros today, were misappropriated. He claims his former asset manager, Eric Freymond, sold these shares to LVMH’s boss, Bernard Arnault, without his explicit permission. This alleged transaction happened during Arnault's infamous secret attempt to seize control of Hermès over a decade ago—a move the Hermès family fiercely blocked.

LVMH and Arnault have fired back, vehemently denying any wrongdoing. They insist they hold no 'hidden' stock and point out that Puech’s claims have already been rejected by Swiss courts. Swiss judges previously ruled that Puech had shown ‘blind trust’ in his manager, allowing the voluntary transfer of funds. This complex dispute puts the global spotlight squarely on corporate ethics.

So why did Belgian citizens search for this news more than any local crisis? This legal drama perfectly highlights Europe's stark economic contrast. While ordinary Belgian workers face mass layoffs—from local retailers—and struggle with soaring heating costs due to unstable energy markets, the continent's wealthiest elite are fighting over colossal fortunes that feel completely disconnected from daily life.

This isn't merely gossip. If these allegations of fraudulent stock acquisition are proven true, it could severely undermine the credibility and transparency of the entire European financial market. The trial forces us all to ask: Should there be tighter regulations on vast wealth concentration and corporate governance? We believe The beginning of empathy starts by connecting these two worlds—demanding transparency and ethical responsibility from the top, while remembering the people struggling at the bottom. The outcome of this colossal lawsuit will undoubtedly shape the future of corporate ethics across Europe.

See you in the next news. Thank you.

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* This blog content actively utilized AI to automate 24-hour world news and repetitive content creation to gain empathy and inspiration through Parts 1 and 2 in order to write Part 3 empathy ideas, and AI can make mistakes.