Rolex non-profit – Why is Rolex a non-profit company, and what you should know about the Private Hans Wilsdorf foundation owned by Rolex
A non-profit is known as a non-business entity or nonprofit institution which is committed for continual of a certain social cause. In an economic way, we define a non-profit as an organization using its wealth to revenue further goals for a certain goal, instead of transferring the income to shareholders, leaders, or members.
Rolex profit is shared with the charity which is the fact people believe Rolex is a non-profit organization. The money shared with the charity doesn’t mean Rolex doesn’t have anything to do with the money or giving it to the member of the Rolex family, this helps the price of Rolex seems competitive in the watch market that why it increases in price and profits.
This still doesn’t make Rolex lose its value, the Rolex company still works hard to ensure they improve with their products and are unbeatable, and with this, they grow bigger and wider in profits. Rolex Company does not rush their sales, they make steps and are good with their statistics to ensure their sale are boosted.
Rolex non-profit can’t be handled by anyone and no one have the right to be a shareholder, Rolex ensures they flourish with their brands for 30, 40, or even more than 100 years. The Rolex way will always be the slogan of Rolex.
Is Rolex a non-profit
No, it is owned by the Private Hans Wilsdorf foundation where Rolex shares go. Rolex is one of the top companies that have lots of profit in all swiss watch families.
Why is Rolex a non-profit
Rolex shares the rest of its profit with the charity after they pay all their employee, this is the reason think Rolex is non-profit.
How is Rolex a non-profit
During the wartime of taxes in 1919, Wilsdorf left England due to the tax levy on goods import and export responsibilities on gold and silver watches which was very high, he decide to move the company to Geneva, Switzerland.
When he established the Rolex watch company, Wilsdorf’s wife died in 1944 and he established the Hans Wilsdorf foundation which is a private trust where he distributes his Rolex shares ensuring the shares go to charity. At 1960, wilsdorf died. The Rolex SA company is owned by the Private Hans Wilsdorf foundation which was registered by Wilsdorf before he died where he does not need to pay any corporate income taxes.
ALSO, READ MORE POSTS: