Hermès is one of Europe’s most storied luxury brands, known for its Birkin bags and expensive silk scarves. One of the company’s biggest shareholders had been fifth-generation Hermès heir Nicolas Puech. But a few years ago, Puech made a shocking admission: he was out of money. And Puech’s Hermès shares, worth some $15 billion, were missing. In this first episode, WSJ’s Nick Kostov digs into one of the most baffling and epic financial sagas of this century. Jessica Mendoza hosts.
Further Listening:
The World's Richest Person Is Planning for Succession
Are Diamonds Even a Luxury Anymore?
How a Miami Couple Used Empty Mansions to Pocket Millions
Sign up for WSJ’s free What’s News newsletter.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Плейлист
The Journal.
From a young age, it was clear that Phillip Bell was a football phenom. He got his first college scholarship offer in middle school. But that talent drew Bell into Southern California’s unruly youth f...
For the past two weeks, Iran has been consumed by protests that have resulted in a heavy government crackdown with deaths estimated in the thousands. But the prelude to the unrest wasn’t just politica...
President Donald Trump's sweeping plan for Venezuelan oil is coming into focus. It includes cutting off illicit oil exports, gaining more control over Venezuela's state-run oil company and rebuilding...
After receiving grand jury subpoenas from the Justice Department last week, Federal Reserve Chair Jerome Powell said the investigation was part of a pressure campaign to get the Fed to lower interest...
An AI bubble. Geopolitical turmoil. Inflation and interest rates. These things and more could rock the stock market in 2026, and investors have to be prepared. WSJ’s Jason Zweig, writer of The Intelli...
In August, a troubled man named Stein-Erik Soelberg killed his mother and took his own life. In the months leading up to the tragedy, Soelberg had been engaging in delusion-filled conversations with C...
Netflix is in a high-stakes fight to buy storied movie studio Warner Bros. The company has a $72 billion deal in hand, but rival Paramount isn't going down without a fight. At the helm of the streamin...
Amid an intense trade dispute with the US, China has started looking to other markets to sell its low value items. In recent months, Chinese e-commerce companies like Shein and Temu have started homin...
Since World War II, U.S. geopolitical strategy prioritized global trade and building alliances, especially with democracies. Now, after his action in Venezuela, President Trump is ushering in a new...
For months, the U.S. sold its pressure campaign against Venezuela as a way to curtail drug trafficking. Now, after a surprise military operation on Saturday that led to the capture of President Nicolà...
The stories that defined 2025, the themes to watch in 2026. Ryan Knutson and Jessica Mendoza hear from top editors across the paper. Plus, Ryan's bold proposal to switch Christmas and Valentine's Day....
According to a WSJ analysis, the epicenter for Stand Your Ground killings is in the state where the laws were first enacted: Florida. From 2021 through 2024, the Jacksonville area had a larger share o...
Federal officials say Chinese money launderers moved more than $300 billion in illicit transactions through U.S. banks and other financial institutions in recent years. WSJ’s Dylan Tokar explores the...
How did the U.S. economy do in 2025? With unemployment ticking up, tariffs shaking up global trade and the stock market booming, it has been hard to make sense of it all. Ryan Knutson talks with three...
After a historic church in the heart of Nashville was taken over by a businessman, the family of the church’s original founder, including Christian pop star Amy Grant, says the building was “steeple-j...
Cloud seeding is a decades-old rain-making technology, and it’s making a comeback in drought-stricken western states. Utah is partnering with a startup called Rainmaker as they try to stabilize the Gr...
Risky investing strategies are on the rise, and Robinhood’s CEO Vlad Tenev is leading the charge. He’s built the company’s trading app not just to buy and sell ordinary stocks, but to make it easier t...
Compass CEO Robert Reffkin wants to change the way Americans buy and sell homes by encouraging sellers to list their homes privately when they first hit the market. That strategy is challenging compa...
While some viewers complain that AI-generated ads look uncanny, brands like Coca-Cola are making them anyway. WSJ’s Katie Deighton explains how Coke remade their iconic “Holidays Are Coming” ad with a...
OpenAI kickstarted the AI race, but is it now at risk of falling behind Google? As the company behind ChatGPT releases its latest update to fend off Google's Gemini, WSJ’S Berber Jin explains OpenAI C...
Starting next year, babies born from 2025 to 2028 can receive $1,000 to start investment accounts. The initiative has gotten corporate America excited, with financial institutions vying for a role in...
Earlier this year, OpenAI and chip-designer Advanced Micro Devices, or AMD, announced a multibillion-dollar partnership to collaborate on AI data centers that will run on AMD processors, one of the mo...
This morning, Paramount Skydance launched a $77.9 billion hostile takeover offer for Warner Bros. Discovery. It occurred just days after Warner had agreed to a $72 billion deal with Netflix. WSJ’s Joe...
The Kremlin pitched the White House on peace in Ukraine through business deals. To Europe’s dismay, President Trump and his envoy are on board. WSJ’s Drew Hinshaw and Joe Parkinson take us inside the...
The U.S. wine industry hasn’t had it this bad since Prohibition. WSJ’s Laura Cooper reports from Sonoma County, California, a major region for American wine production, on why growers are drowning in...
As part of a year-long investigation, WSJ’s Shalini Ramachandran and Betsy McKay have been reporting on two of the most commonly prescribed psychiatric medications in America: benzodiazepines and anti...
An escalating artificial intelligence race between China and the U.S. is drawing comparisons to the Cold War, and is likely to be just as consequential. As the technology barrels ahead from ChatGPT to...
Quince is seemingly everywhere. Since launching in 2018, the brand has built an e-commerce empire that brings in $1.1 billion annually, and has catapulted to the top of the "dupe" economy. But the com...
After Hermès heir Nicolas Puech announced his $15 billion fortune was missing, accusations started flying. Who had taken the money? Was it his handyman? His financial advisor? Puech himself? In this s...
Hermès is one of Europe’s most storied luxury brands, known for its Birkin bags and expensive silk scarves. One of the company’s biggest shareholders had been fifth-generation Hermès heir Nicolas Puec...