28 Sep '14, 4pm

TIL Rolex is owned by a private foundation, registered as a charity and does not pay corporate tax.

Come on people, use some critical thinking on this one. The only evidence presented here of the idea that Rolex is using it's charity status to dodge taxes is a Business Insider article published by a guy angry about Rolex destroying the Russian watch market. It's a pretty biased article originally published on the author's unaffiliated personal blog. The main quote here is: "Virginie Chevailler, a spokesman for Rolex in Geneva, declines to say what evidence is available to confirm that the Wilsdorf Foundation makes charitable donations." Just because a marketing spokesperson doesn't want to talk to a reporter who is writing an article about how Rolex is diluting the value of it's brand by pumping out more timepieces doesn't mean that they have something to hide. Rolex is a private company, which means that they don't have to report sales figures and tax information. If th...

Full article: http://www.reddit.com/r/todayilearned/comments/2hp689/til...

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