Heritage
Rolex, owned by a foundation
How a watch company founded in London became the best-known name in Geneva, and why it can never be sold.
Hans Wilsdorf and Alfred Davis founded Wilsdorf & Davis in London in 1905. In 1908 Wilsdorf registered the name Rolex: short, easy to say in any language and small enough to fit on a dial.
After the First World War, taxes and export duties led the company to move to Geneva in 1919. The innovations that followed shaped the modern wristwatch: the waterproof Oyster case in 1926, proved when Mercedes Gleitze wore one while swimming the English Channel in 1927; the self-winding Perpetual rotor in 1931; and in 1945 the Datejust, the first chronometer wristwatch with a date that changes automatically on the dial.
Also in 1945, Wilsdorf set up the Hans Wilsdorf Foundation in Geneva. He left his shares to it, and on his death in 1960 the foundation became the sole owner of Rolex. With no shareholders to pay and no possibility of a sale, the company is run for the long term, and the foundation supports the arts, education, social causes and animal protection.
Timeline
1905
Wilsdorf & Davis founded in London
1908
The name Rolex is registered
1919
The company moves to Geneva
1926
The waterproof Oyster case
1931
The Perpetual self-winding rotor
1945
The Hans Wilsdorf Foundation and the Datejust
1946
Tudor launched as a sister brand
1960
The foundation becomes sole owner
Rolex is No. 3 in the Swiss Lions 100.