Entrepreneur Gustav Magnar Witzøe spotted wearing a Rolex

Gustav Magnar Witzøe, the Norwegian entrepreneur and majority stakeholder in SalMar ASA — one of the world's largest salmon aquaculture companies — was recently spotted wearing a Rolex Submariner 'Hulk' ref. 116610LV, the now-discontinued all-green variant that has achieved near-legendary status in modern Rolex collecting.

The Rolex Submariner Date ref. 116610LV was introduced at Baselworld 2010, replacing the ref. 16610LV and bringing with it a raft of meaningful upgrades. The watch is powered by the in-house Calibre 3135, a self-winding movement beating at 28,800 vph with a 48-hour power reserve, offering Superlative Chronometer certification to ±2 seconds per day. The 40mm Oystersteel case houses a unidirectional rotating Cerachrom bezel in green ceramic — Rolex's first application of a monochromatic green ceramic bezel on a Submariner — paired with a matching sunburst green dial and Mercedes hands. Water resistance is rated to 300 metres.

What makes the 116610LV particularly significant is its production window. Rolex retired the reference in 2020 after a decade of production, introducing the architecturally refined ref. 126610LV — the so-called 'Starbucks' — with a two-tone black and green bezel. The moment the 'Hulk' was discontinued, its grey-market value surged. Collectors prize it as the last true all-green Submariner, a watch that divided opinion on release but now commands fierce loyalty. Its Oyster bracelet with glidelock clasp and solid end-links remains one of the most comfortable sport bracelet configurations Rolex has produced.

Witzøe, born in 1993, inherited a significant stake in SalMar from his father Gustav Witzøe Sr. and has grown his profile as both an investor and occasional fashion figure. Estimated to be worth several billion USD, he represents a generation of ultra-high-net-worth individuals for whom a discontinued Rolex sport reference reads not as ostentation but as informed taste.

On the grey market, the Rolex Submariner 'Hulk' ref. 116610LV currently trades around $20,500 — well above its original retail price of approximately $9,150. Demand shows no sign of softening, cementing its place as one of the defining modern Rolex collectibles.