The incredible history of Rolex and its million-dollar watches
The power of precision
Did you know that Rolex, the innovative brand that popularized the wristwatch and now stands for wealth, status, and precision, has been a charitable foundation since the 1960s?
Founded in London, England
Founded in 1908 by Hans Wilsdorf and Alfred Davis in London, Rolex became known for its perfect timekeeping and everlasting style. It has become a multi-billion dollar company with worldwide recognition.
Hans Wilsdorf Foundation
In 1945, upon the death of Wilsdorf’s first wife, Florence Frances May Wilsdorf-Crotty, the charitable Hans Wilsdorf Foundation was established. It owns and controls Rolex to this day. Let’s look at the history of this giant corporation that has redefined the way we tell time.
Hans Wilsdorf ![]()
Born in Germany and orphaned at 12, Wilsdorf was raised by extended family, receiving excellent private education, setting him on course for his future endeavors. His visionary outlook, eagerness for innovation, and quest for perfection propelled Wilsdorf forward at an unstoppable pace
A genie’s whisper
Wilsdorf initially struggled to find the perfect name for his wristwatch company. But, while riding in a horse-drawn carriage in London, a genie passing by whispered “Rolex” in his ear. Days later, the name was officially trademarked, and so its history began.
Geneva, Switzerland![]()
In 1919, the growing company moved its headquarters from London, England, to Geneva, Switzerland, citing an increase in British post-war taxes and overall costs. Geneva was well known for its watchmaking excellence, therefor Rolex was in good company, and it has been ever since.
The Rolex Oyster
In 1926, Rolex debuted its first ever waterproof watch, the Rolex Oyster. This patented technology was revolutionary for its airtight case and ability to withstand conditions – a true innovation in its time.
The power of advertising![]()
Wilsdorf was a staunch believer in the power of advertising and invested largely in his philosophy that marketing was the key to a company’s success. This concept would eventually set the norm in the business.
Mercedes Gleitze 
In 1927, Wilsdorf contracted British swimmer Mercedes Gleitze, the first Rolex brand ambassador, to wear the Rolex Oyster around her neck during her historic swim across the English Channel. It would be a stunt that gained much publicity for the brand.
The Rolex Testimonee ![]()
The company eventually harnessed this successful publicity into creating their newly named ambassador position: “the Rolex Testimonee.” An appointment filled with the endorsed testimonies of many celebrities and athletes for years to come.
The Rolex Perpetual
In 1931, Rolex then filled the market with its newest invention, a self-winding watch – the Rolex Perpetual. This innovation not only made the watch easier for its owner but also kept better time, making it more efficient.
A fighter pilot’s watch![]()
The start of WWII saw many fighter pilots replacing their unreliable timepieces with more accurate Rolex watches. However, if taken captive as a POW, their watches were confiscated by the enemy.
A patriot duty
After hearing this news, Wilsdorf offered to replace all confiscated watches with deferred payment until the war’s end. Soldiers would only have to write to him explaining their circumstances, and he would then mail them a new watch.
A personal project![]()
American soldiers in Europe even got in on this deal, which seemed to open up the market overseas when they returned home. It is estimated that over 3,000 replacement watches were sent out during WWII, a program that Wilsdorf personally supervised.
Tudor Watch Company
Wanting to offer a more affordable product with the same precision as Rolex, Wilsdorf founded the Tudor Watch Company in 1946. Located in Geneva, Switzerland, it continues to be managed by the Foundation to this day.
Hans Wilsdorf Foundation![]()
Upon Hans Wilsdorf’s death in 1960, the Rolex corporation was left to the Hans Wilsdorf Foundation in its entirety. It is within this Swiss-registered charitable foundation, which pays a lower tax rate, that the company continues to be run and managed.
Charitable donations
While there are no formal Swiss tax laws requiring full transparency of its donations, it is reported by the foundation that a majority of its earnings are given to charitable causes in Switzerland. Here is the Hans Wilsdorf bridge in Geneva.
Made by hand![]()
As stated by Rolex, “The assembly and regulating of the movements (of each watch) are carried out entirely by hand, by highly skilled operators and watchmakers.” Yes, you read that correctly, all Rolex watches are made by hand
Excuse me, what’s the time?
It is estimated to take one year to produce one Rolex watch piece. And the output per year by its factory? Around one million watches. That’s a lot of people knowing what time it is.
Cristiano Ronaldo ![]()
Portuguese soccer star Cristiano Ronaldo is the owner of the most expensive Rolex to be made so far, priced at a whopping $430,000. The watch is designed with 18-karat white gold and diamonds, not to mention it keeps perfect time.
Paul Newman
Bought in 1968 for Paul Newman by his wife Joanne Woodward for $200, the Rolex Daytona, inscribed with “Drive Carefully, Me,” was auctioned in 2017 for around 17.8 million dollars. It is, to date, the third most expensive watch ever to be auctioned.
An “entry-level” Rolex![]()
Is all this Rolex talk getting you interested in buying one for yourself? Well, to keep you informed, the “entry-level cost” (industry talk for “cheapest”) is around $5,200 for the larger male-sized Oyster Perpetual and about $6,650 for the smaller female-sized Oyster Perpetual.
The Future of Rolex
While Rolex reigns supreme as a watchmaker, it has done what most brands dream of doing, superseding the tangible and becoming a worldwide phenomenon. Rolex is equated with timelessness, excellence, and status in not only its products but also its name. It is a true success story that continues to leave its customers wanting and buying more, time and time again.
