Sunday, March 19, 2023
Italian luxury fashion house, Bulgari, known to be the world’s most enduring jewelry brand, is caught in a legal battle. Two sisters who inherited tens of millions from the family trust are now “blanketing most of Wall Street with subpoenas.”
Sotiri Bulgari created a humble family jewelry business that grew into a massive brand that was sold for $5.2 billion in cash and stock in 2011. The Bulgari family trust was created for matriarch Anna, who left the $129 million fund to her daughters Ilaria, Veronica, and Natalia upon her death in 2019.
Each sister has received a $40 million payout, but the fight continues in court over the trust distribution. Lawyers and accountants are currently reviewing 3,500 pages of documents spanning 15 years of financial transactions.
For more information see Kathianne Boniello “Bulgari heirs battle over massive $129 million family trust” New York Post, March 18, 2023.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.