Quote:
Originally Posted by Mendota
Please stop calling Rolex a non-profit company. Stop!! Someone created that false story because they didn't know what they were talking about and now everyone believes it. They are very much a for profit company, just like every other company on the planet.
Rolex gives a percentage of its profits to the Hans Wilsdorf Foundation. THAT is the charitable entity. The Hans Wilsdorf Foundation is the sole owner of Rolex, but Rolex is absolutely a for profit company and only a percentage of its profits are going back to the foundation. They are paying employees, investing in R&D and capital improvements, investing with their pension fund, and doing everything else that for profit companies do.
It's the exact same as every other big company that also has a charitable foundation they run with profits. General Mills, 3M, Ford, Cargill, thousands of large companies all around the world do the exact same thing, but they are not "non-profit" companies themselves. It's the foundation that does the charitable work. The company makes money and then contributes some of that to their foundations. SOME of it, not ALL of it.
|
There are no shareholders.
Of course they reinvest, pay employees etc.
But it's not the same as any of those companies.