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Hi

I read 2 things about Rolex, both which I would rather like & hope to be true but somewhat doubt - I wonder if you can confirm/deny.

1st - that Rolex is a charity and all its considerable profits are given away
2nd -that Rolex is in fact owned by the Vatican

Myth, truth, partially right?

thanks in advance

simon
 

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I m not very sure but,I don't think Rolex is a charity.It maybe a sponser of many events,but that doesn't make it a charity,secondly if the profits are given away,its very unlikely they will do that.

Well,I heard about a rumor about Rolex was owned by Vatican,but I cannot confirm it
 

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This is what Dowling Rolex says about the ownership on his web site http://www.ukwatches.com.

"As mentioned above, the company is owned by two family trusts. The larger one (the Wilsdorf family trusts) gives a fixed sum to the remaining members of his family but the majority is given to charitable causes; including a high school in his home town and the watchmakers school in Geneva."

The Vatican rumour, AFAIK is just that, a rumour.
 

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I'm not sure that I'd call Rolex a charity. Rolex is more of a large philanthropist. From what I've read they donate quite a large amount of money to various "do good" organizations.

I don't believe that Vatican ownership is true. :think:
 

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Clifton said:
I'm not sure that I'd call Rolex a charity. Rolex is more of a large philanthropist. From what I've read they donate quite a large amount of money various "do good" organizations.

I don't believe that Vatican ownership is true. :think:
Yup, I had heard the Vatican rumor and laughed at it wholeheartedly...
 

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Somebody saw a Rolex in ''The Davinci Code''??

There could be some connection..:-D :-D :-D
 

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Rolex is not owned by a charity, but is owned by the Swiss version of a charitable trust, which might have some rules that it must give certain amounts to charity, but I don't know that for sure. But they are owned by a charitable trust since the original owner died (Wisdorf family?).

I have not heard the rumor about the Vatican before. Maybe there is some kind of indirect connection.

Rolex has always been a private company, so they don't have to report their earnings, etc.
 

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Simon said:
Hi

I read 2 things about Rolex, both which I would rather like & hope to be true but somewhat doubt - I wonder if you can confirm/deny.

1st - that Rolex is a charity and all its considerable profits are given away
2nd -that Rolex is in fact owned by the Vatican

Myth, truth, partially right?

thanks in advance

simon
First, Rolex is not a charitable organization. They are a private corporation. They did or do have stockholders like any corporation. The confusion starts when people assume all corporations sell their shares on a stock exchange. Rolex does not. Until the Aegler family was recently bought out they owned shares or it could have been one share. In any case they received a % of the profits as all shareholders do.
I assume there are not very many shares depending on how it was originally set up. The remainder of the profits after EBITA goes into the charitable trust which had over 9 billion dollars as of last year.
Rolex is listed in Switzerland as a Swiss corporation AFAIK. =) maverick
 
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