Who owns who?

[submariner66]

Originally Posted by GradyPhilpott

Rolex is not a not for profit organization.

Rolex is privately-owned by a charitable trust, which benefits mostly children's causes, probably because Wilsdorf was an orphan.

There aren't a lot of high-end products that don't spend money on advertising and sponsorships.

The degree of confusion about the matter demonstrated here is indicative of the fact that Rolex doesn't make a lot of noise about their charitable work. They just go about it in a very quiet way.

Upon the death of his wife in 1944, he [Wilsdorf] established the Hans Wildorf Foundation in which he left all of his shares in Rolex, making sure that an amount of the company’s income would go to charity. Today the company remains a private (estimated annual revenues of $3 billion), contributing over 50% of its profits to the foundation. Wilsdorf died in Geneva on July 6, 1960.

As one of the top two philantropist organisations in Europe, the Hans Wilsdorf Foundation supports the arts, culture, education helping build sports and educational facilities for schools, theatres, literature, architecture and others. They have also supported NGOs to secure and defend childrens’ rights in African countries such as Ethiopia and Senegal.

The Rolex Institute was created to further the company’s philanthropic programmes:

The Rolex Awards for Enterprise recognises pioneering men and women around the world who work to improve life on our planet; and advancing human knowledge and well‐being in the areas of science, technology, exploration, the environment and cultural heritage. Since the Awards were initiated, 110 Rolex Awards have been presented to receipients in more than 60 countries.

The Rolex Awards for Enterprise: Young Laureates Programme funds five young pioneers between 18 and 30 to deploy their ideas to solve tomorrow’s challenges in science and health, applied technology, exploration, the environment and cultural preservation.

The Rolex Mentor and Protégé Arts Initiative seeks out extremely talented young artists in dance, literature, music, film, theatre and visual arts, and brings them together with great masters in their respective fields for a year of creative collaboration in a one‐to‐one mentoring relationship. Since its inception, 234 people, from more than 40 countries, have participated in the Rolex Arts Initiative.

http://www.alphatech.sg/2011/05/role...philantropist/

I'm not sure what to think of those who think these efforts represent a cause for derision.

Personally, I'm proud to be a part of it, although I'm not so naive as to think that buying Rolex watches constitutes philanthropy.

It should also be noted that Wilsdorf left no heirs, so it would be difficult for Rolex to be family-owned. The foundation, however, is the next best thing in my judgement.

http://beckertime.com/the-evolution-history-of-rolex/

Wow that was a great post, knew some of this but now I really love this watch stuff!!

[GradyPhilpott]

Originally Posted by Rashid.bk

Good post Grady.
Rolex also supports the Lititz watchmaking school, 100% tuition free minus the tools which are subsidized.
Same as Omega and it's watchmaking school in Florida.
We just don't hear about about all the philanthropy from these two but Wilsdorf and Hayek Sr did a lot of giving.

Excellent point, Rashid.

My watchmaker is a graduate of Lititz.

http://watchmakingblog.com/about/

Nicolas Hayek, Sr. should be a national hero in Switzerland with monuments erected in his honor.

Without him, there would be no Swiss watch industry, just a few watch houses that managed to weather the cheap quartz storm.

[capote]

Seiko is indie I think, maybe Citizen as well. Patek Philippe is owned by neither Patek nor Philippe. AP have some heirs still attached to the company though not 100%. The quartz crises doomed hundreds of watch companies in Switzerland, without Swatch or Richemont there would be lesser still. There is a lot of obsession lately about in-house movements and owner structure. Life is too short, just get the watch you like and can afford and forget about the marketing BS.

[versatile1]

Originally Posted by Camel

Rolex is a non profit, due to its ownership by the Hans Wilsdorf Foundation - their profits gets donated to anything from arts, music, sports etc.

True
That's where Tudor comes in
All profit.

[Hairdude1]

Originally Posted by GradyPhilpott

Rolex is not a not for profit organization.

Rolex is privately-owned by a charitable trust, which benefits mostly children's causes, probably because Wilsdorf was an orphan.

There aren't a lot of high-end products that don't spend money on advertising and sponsorships.

The degree of confusion about the matter demonstrated here is indicative of the fact that Rolex doesn't make a lot of noise about their charitable work. They just go about it in a very quiet way.

Upon the death of his wife in 1944, he [Wilsdorf] established the Hans Wildorf Foundation in which he left all of his shares in Rolex, making sure that an amount of the company’s income would go to charity. Today the company remains a private (estimated annual revenues of $3 billion), contributing over 50% of its profits to the foundation. Wilsdorf died in Geneva on July 6, 1960.

As one of the top two philantropist organisations in Europe, the Hans Wilsdorf Foundation supports the arts, culture, education helping build sports and educational facilities for schools, theatres, literature, architecture and others. They have also supported NGOs to secure and defend childrens’ rights in African countries such as Ethiopia and Senegal.

The Rolex Institute was created to further the company’s philanthropic programmes:

The Rolex Awards for Enterprise recognises pioneering men and women around the world who work to improve life on our planet; and advancing human knowledge and well‐being in the areas of science, technology, exploration, the environment and cultural heritage. Since the Awards were initiated, 110 Rolex Awards have been presented to receipients in more than 60 countries.

The Rolex Awards for Enterprise: Young Laureates Programme funds five young pioneers between 18 and 30 to deploy their ideas to solve tomorrow’s challenges in science and health, applied technology, exploration, the environment and cultural preservation.

The Rolex Mentor and Protégé Arts Initiative seeks out extremely talented young artists in dance, literature, music, film, theatre and visual arts, and brings them together with great masters in their respective fields for a year of creative collaboration in a one‐to‐one mentoring relationship. Since its inception, 234 people, from more than 40 countries, have participated in the Rolex Arts Initiative.

http://www.alphatech.sg/2011/05/role...philantropist/

I'm not sure what to think of those who think these efforts represent a cause for derision.

Personally, I'm proud to be a part of it, although I'm not so naive as to think that buying Rolex watches constitutes philanthropy.

It should also be noted that Wilsdorf left no heirs, so it would be difficult for Rolex to be family-owned. The foundation, however, is the next best thing in my judgement.

http://beckertime.com/the-evolution-history-of-rolex/

Thanks for this

[MatthewInSeattle]

Originally Posted by texex91

Uh, NO. AP is independent just like Patek--thank goodness

Patek and AP are the only two major Swiss family owned watch houses still left.

Rolex is not family owned.

Breitling is family owned as well.

[Check]

Originally Posted by landroverking

Remember Rolex is non-profit as well.

Grady stated it quite well.

[007bond]

Originally Posted by GradyPhilpott

Rolex is not a not for profit organization.

Rolex is privately-owned by a charitable trust, which benefits mostly children's causes, probably because Wilsdorf was an orphan.

There aren't a lot of high-end products that don't spend money on advertising and sponsorships.

The degree of confusion about the matter demonstrated here is indicative of the fact that Rolex doesn't make a lot of noise about their charitable work. They just go about it in a very quiet way.

Upon the death of his wife in 1944, he [Wilsdorf] established the Hans Wildorf Foundation in which he left all of his shares in Rolex, making sure that an amount of the company’s income would go to charity. Today the company remains a private (estimated annual revenues of $3 billion), contributing over 50% of its profits to the foundation. Wilsdorf died in Geneva on July 6, 1960.

As one of the top two philantropist organisations in Europe, the Hans Wilsdorf Foundation supports the arts, culture, education helping build sports and educational facilities for schools, theatres, literature, architecture and others. They have also supported NGOs to secure and defend childrens’ rights in African countries such as Ethiopia and Senegal.

The Rolex Institute was created to further the company’s philanthropic programmes:

The Rolex Awards for Enterprise recognises pioneering men and women around the world who work to improve life on our planet; and advancing human knowledge and well‐being in the areas of science, technology, exploration, the environment and cultural heritage. Since the Awards were initiated, 110 Rolex Awards have been presented to receipients in more than 60 countries.

The Rolex Awards for Enterprise: Young Laureates Programme funds five young pioneers between 18 and 30 to deploy their ideas to solve tomorrow’s challenges in science and health, applied technology, exploration, the environment and cultural preservation.

The Rolex Mentor and Protégé Arts Initiative seeks out extremely talented young artists in dance, literature, music, film, theatre and visual arts, and brings them together with great masters in their respective fields for a year of creative collaboration in a one‐to‐one mentoring relationship. Since its inception, 234 people, from more than 40 countries, have participated in the Rolex Arts Initiative.

http://www.alphatech.sg/2011/05/role...philantropist/

I'm not sure what to think of those who think these efforts represent a cause for derision.

Personally, I'm proud to be a part of it, although I'm not so naive as to think that buying Rolex watches constitutes philanthropy.

It should also be noted that Wilsdorf left no heirs, so it would be difficult for Rolex to be family-owned. The foundation, however, is the next best thing in my judgement.

http://beckertime.com/the-evolution-history-of-rolex/

Thank you very much for excellent and informative post.

[ZakSgp]

There is also the Franck Muller Group (Switzerland)
Which owns
Frank Muller
Martin Braun
Pierre Kunz
European Company Watch
Rodolphe
Barthelay
Backes and Strauss