Wealth without Heirs: Pioneering Paths for Long-Term Prosperity and Impact

As a business owner, Have you crafted an Exit Plan? Whether you are entrusting the helm to deserving heirs or you do not have deserving heirs, you still able to strategize the transition or paving the path for multigenerational prosperity. Let’s see how Rolex Model of succession planning can inspire you.

Rolex was foundered by Hans Wilsdorf in 1905 and had no direct descendants. He achieved a resounding success in 1926 with the world’s first waterproof and dustproof watch.He set up a foundation in 1945 with the main purpose is the continuation of Rolex even after his demise. In 1960 Wilsdorf died childless. He left his assets and property rights to the Hans Wilsdorf Foundation and this foundation continue to benefit those in need until now, is already 63 years.

How does Hans Wilsdorf Foundation make it? Every year sales are estimated at around 10 billion Swiss francs but how much the Geneva watchmaker earns remain a company secret because company do not require to do so. Approximately 300 million Swiss francs per year are divided roughly as follows: one-third for humanitarian aid, one-third for animals and ecosystems, one-third for local projects in Geneva – plus the costly large-scale projects that arise according to need and opportunity.

What did you get from this case study?

We need to have a plan simply because the empire has been built and no one can ever bring over the wealth to the next world. When the amount of wealth is abundance, a more wealth thought succession plan needed to ensure wealth longevity.

Whether to set up a charitable foundation (just like Rolex founder), family foundation or family office depends solely on the mission and goals you intend to achieve in the long run.

A successful succession plan should allow for adaptability to changing circumstances, ensuring the foundation can respond effectively to emerging challenges and opportunities.

An additional invaluable strategy involves establishing a private foundation or family office, ensuring utmost confidentiality and discretion in all details as compare Will document which will be publicly available upon death.

Crafting an exit plan is crucial for business owners, inspired by the Rolex model. Founder Hans Wilsdorf, with no direct heirs also decide to established a foundation, ensuring the company’s continuity and his philanthropy goals. Don’t wait any further to craft your own succession plan because a well crafted and smooth succession plan need years to establish, not days. ”Rome wasn’t build in a day”.