Who Is Marcus Margulies? Sekonda Watches Owner Sued By Brother Stephen Margulies

May 2024 · 3 minute read

Stephen Margulies has sued his elder brother Marcus over claims that he hid millions from their late father’s fortune. Learn more about the lawsuit and net worth of the brothers.

The multi-millionaire watch tycoon is being sued by his brother who has accused him of using lies and deception to cheat him out of the money left behind when their father died.

Stephen claimed that Marcus concealed millions of dollars of his late father’s fortune from him. He is suing his brother in London’s High Court.

Marcus is the owner of the famous watch brand Sekonda. Let’s find out what the rift between the brothers is actually about.

Marcus And Stephen Margulies Lawsuit Explained

Stephen Margulies is suing his brother Marcus Margulies over the accusations that he was denied the right to part of the inheritance left behind by their father when he died. The lawsuit has been a high-profile case in the United Kingdom.

The brothers’ father, Alexander, came to Britain from Poland as an immigrant in 1931. He set up the watch empire and left millions of dollars of fortune to his offspring.

After Stephen left the family business and went to live in Peru, Marcus was declared the sole beneficiary of Alexander’s estate in a will that was made in 1982. Though this move annoyed the younger brother, the siblings reconciled after Stephen left Peru and returned to the UK.

Stephen has claimed that the money was hidden by Marcus in a secret offshore account called Dulwich Inc. He has sued his brother in a bid to force him to reveal the real value of the money in the account.

Marcus And Stephen Net Worth Explored

Marcus is the owner of multiple companies worth millions of pounds. He has been the director of companies such as Time Product Watches, Almar PLC, 18 Hyde Garden Freehold Limited, Seknoda Limited, Hefik Watch Company, Apollo Watch Products, Carey & Clemence Limited, Elco Clocks, Hirst Brothers And Company, House of Lipkin Limited, and others.

The elder Margulies was worth £135 million according to the 2018 Sunday Time Rich List. His current worth is certainly more than 2018’s estimates. Stephen’s net worth, however, is not exactly known.

The brothers have been involved in other lawsuits over the last 20 years. Stephen beat Marcus in a court battle over their mother Stella’s share of family wealth in 1993. The money was later shared equally among the brothers and their sister Judith Sacredoti.

Get To Know More About The Watch Tycoon

Marcus is a British watch tycoon and owner of the company Time Products UK Ltd which sells luxury watches. He also owns the watch company, Sekonda, the famous British wristwatch manufacturer originally established in the Soviet Union in 1966.

The businessman was born in August 1942. He is currently 79 years old. His father always dreamt that his son would follow him in the watchmaking business, and Marcus has done exactly that. He worked in Swiss watch factories before joining his father’s company.

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