How Voltaire, at the age of 76 created a successful watchmaking enterprise
Voltaire is often listed among the leading Enlightenment thinkers, alongside Montesquieu and Locke. Or he is mentioned among famous playwrights, such as Molière and Racine. But it’s unlikely to see Voltaire listed among successful entrepreneurs.
Yet at 76, he founded a startup and turned it into a successful international business.
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Voltaire wasn’t planning to start a business, nor did he need to. His interests were in writing, theatre, and political causes such as penal reform. He had plenty of revenue streams; 1 he didn’t need another. However, his experience in financial management and the circumstances under which the idea was born might make the endeavour less surprising than it first appears.
In 1729, with the help of his friend, the mathematician Charles Marie de la Condamine , Voltaire took advantage of a loophole in the state lottery system. The prize value was miscalculated, so it was much higher than the total price of the lottery tickets. Winners also had other benefits. If they held government bonds that were devalued at that time, they could be repaid at the original issue price. According to some estimates, Voltaire earned half a million livres from this chicanery.