Help a Dorklehead understand

[fskywalker]

Originally Posted by padi56

Rolex is a foundation and cannot be owned, bought or sold to anyone for any price. The company is set up in such a way that it continuously perpetuates its existence through properly allocated funds into research and development but they do still make a large profit just like any other business to survive.

Hans Wilsdorf, the founder of Rolex, was orphaned at age 12,he spent the rest of his teenager years in an orphanage. He later began to work for a watch exporter in Switzerland, then went on to found RWC now just Rolex as we know it today.

Hans Wilsdorf and his wife owned orphanages in Switzerland and donated profits of the company to various charities and orphanages. To this day a large share of the profits go to charities and the Rolex Awards for Enterprise but they still make a large profit .

Thanks for the info Peter!


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[ROLEX MAN]

Non profit = non tax!

[Driver8]

It’s all been said above, but I just thought I’d share something an extremely well respected watch industry insider told me. He told me that apart from making watches, Rolex is a vast property and landowner, and they could literally close the doors on their watch-making business tomorrow and still make a truly huge profit from their real estate interests alone.

As others have said, non-profit doesn’t mean you can’t make a surplus - it just means there’s no shareholders to pay, so all that surplus income has to go somewhere. Apparently charitable causes are one recipient (although I can’t find any direct evidence of who they support), and real estate is another.

[Robf52]

I've also read that the Hans Wilsdorf Foundation is the largest land owner in Switzerland. Hans did well.

[BNA/LION]

Originally Posted by TheVTCGuy

I have heard several times on here, that Rolex, the company, is a NOT FOR PROFIT organization. Now, My financial knowledge is slightly better then a horned frog, I can barely balance my checking account, but a couple things I DO know is without being a public company, Rolex does not have to report to stock holders. I also know that Rolex HAS to make a profit… I mean to pay it’s workers and pay for supplies and bills…. And… stuff.

So…exactly what does Rolex gain by being a “Not for Profit” Organization, what does it really mean?

Actually... for a Dorkelhead who looks like a Horned Frog and has zero math skills, that's a pretty good question!

[Jocke]

Sorry Paul, no one can help you when you not understand.

[TheVTCGuy]

Originally Posted by Jocke

Sorry Paul, no one can help you when you not understand.

I don’t get it?