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Why CEOs Swear by Low-Budget Swatch Watches

Some of the world’s most powerful finance execs and political leaders sport the plastic, inexpensive timepieces. What’s behind the trend?

According to Google auto-fill, one of the most searched terms relating to Goldman Sachs CEO Lloyd Blankfein is, “What watch does Lloyd Blankfein wear?”

We have the answer: It’s a Swatch, a simple plastic timepiece that retails in the ballpark of $100. In fact, the executive has several of them—including a black one for formal events.

If you work on Wall Street, you’ve probably seen the look before: good suit, unremarkable shoes, digital watch. Witness Steve Schwarzman, CEO of Blackstone. Schwarzman not only owns multiple Swatches, he wears them in funky colors and designs. One particularly bright-colored edition bears the landmarks of his vacation home in St. Tropez.

Read more: Fortune

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