Is Rolex’s Philanthropy Sincere
A discussion of Rolex's philanthropic efforts and the sincerity of the company.
2 min read
Rolex is a for-profit company. As such, they’re in the business of making money. In addition, they sell high-ticket items. It’s hard to think of a gold and platinum watch with diamonds and rubies as something philanthropic, right?
Well, first and foremost, Rolex is a for-profit company but it is owned by a non-profit trust, the Hans Wilsdorf Foundation. This foundation was set up by Hans Wilsdorf, the founder of Rolex, to ensure that Rolex’s profits would benefit the world. This is why a very large portion of Rolex’s profits go to a number of charitable causes.
Rolex's Perpetual Planet Initiative supports ocean conservation, wilderness protection, and the preservation of the living world. Rolex collaborates with organizations like National Geographic and the Royal Geographical Society to explore environments like the Amazon, Mount Everest, and the deep sea. By facilitating exploration and research, Rolex brings more awareness to the world as a whole about the state of nature and strategies for its protection.
Rolex also supports the arts. Rolex Mentor and Protégé Arts Initiative connects famous artists with teaching institutions around the world. Rolex also funds art colleges in Geneva. Their dedication to young artists is similar to their dedication to young marine biologists or other marine sciences. Rolex supports the Our World-Underwater Scholarship Society, which provides scholarships to young people who want to pursue a career in the marine world.
Rolex supports entrepreneurial programs in developing countries, orphanages, and sports associations. Rolex also helped prevent the Servette FC, Geneva's football club, from going bankrupt in 2015. It’s fair to say that Rolex supports a very robust and diverse group of causes.
So, is the philanthropy sincere?
Well, who cares?
Anita Studer, a Swiss Ornithologist, won the Rolex Award for Enterprise in 1990. Because of Rolex’s help, Anita’s organization has planted more than eight million trees in the rainforest in Brazil. Does it really matter if Rolex did it for PR?
For the record, I think Hans Wilsdorf wanted to make a difference in the world and I think the foundation that bears his name also wants to make a difference. Even if it’s all public relations, though, the difference is being made.
Read this next:
