Marks, 64, a junior Wimbledon tennis player, went into the fashion business, setting up French Connection in 1972. Its shares have recovered from a low at the start of 2010 and the company is now worth about £99m.

Marks has a £41m stake in the business, well down from £100m before the credit crunch. In 2004, he sold £36.5m worth of shares to fund a divorce settlement, but other assets, such as homes in London, the Caribbean and Hamptons, Sunday Times Rich List valued Marks at £60m.