Paolo Bulgari was born in 1937, the second son of Giorgio Bulgari (1890-1966). His brother Gianni was born in 1935 and Nicola in 1941.
In 2013, after allegations of tax evasion, the Guardia di Finanza (tax police), raided the Bulgari office in Rome's Via Condotti, as part of a Euro 46 million seizure of assets. In May 2015, Paolo and Nicola Bulgari and 11 others were ordered by an Italian judge to stand trial on charges of tax evasion. Both deny the charges.
In May 2015, Forbes estimated the net worth of Paolo Bulgari at US$1.3 billion.