Since 1932, the company has been owned by the Stern family in Switzerland and remains the last family-owned independent watch manufacturer in Geneva. Notable Patek Philippe patrons and timepiece owners include Queen Victoria, Queen Elizabeth II, Princess Diana, Pope Pius IX, Marie Curie, Albert Einstein, John F. Kennedy, Nelson Mandela, Pablo Picasso, Pyotr Tchaikovsky and Leo Tolstoy.
In 2014, Patek Philippe introduced the Grandmaster Chime Ref. 5175, the most complicated wristwatch ever built by the manufacturer to celebrate its 175th anniversary. Only seven pieces of model were created, with one permanently residing in the Patek Philippe Museum in Geneva. In 2016, Patek Philippe introduced the Grandmaster Chime Ref. 6300. With 20 complications, including grande sonnerie, minute repeater, and alarm with time strike. The purchase of each piece requires an application from the buyer and has to be approved by Patek Philippe President Thierry Stern.