Perpetual, the investment office for the family behind Rolex, manages assets worth several billion euros for around 90 family members. It has also taken on nearly 100 external investors, according to the available report.
The office is based in Munich’s Lehel district, where its connection to Rolex founder Hans Wilsdorf is reflected in the surroundings: photographs of Wilsdorf hang in the library, watch images decorate the restroom doors, and the conference table is shaped like a watch face.
Wilsdorf founded Rolex in 1905. At the time, wristwatches were unusual for men, who generally carried watches in their pockets. Some doubted that a wristwatch could withstand everyday exposure to impacts, water, sweat and dust. Perpetual’s managing director, Kübel, recalls that critics told Wilsdorf, “You are nuts.” Wilsdorf later called himself “Uncle Nuts.”
Sources: Handelsblatt.