Analysis by WorldTribune Staff, April 24, 2025 Real World News
Since founding the World Economic Forum (WEF) in 1971, Klaus Schwab has been essentially venerated by liberal media for his annual gathering of elitists to lecture Earth's inhabitants on what they're doing wrong and how the WEF's globalist vision would save the day.
On April 20, the WEF announced it is investigating Schwab (and his wife) for financial fraud and ethical misconduct.
Ironically, Easter Sunday marked the end for the moral authority of the world's foremost proponent of globalist values.
The investigation launched during an emergency board meeting that day resulted in Schwab's immediate resignation.
Allegations made in a letter to the WEF from several whistleblowers include that Schwab asked junior employees to withdraw thousands of dollars from ATMs on his behalf that were used to pay for private, in-room massages at hotels. It also alleged that his wife Hilde, a former WEF employee, scheduled “token” WEF-funded meetings in order to justify luxury holiday travel at the organization’s expense, the Wall Street Journal reported.
The whistleblowers also raised concerns about how Schwab treated female employees and how his leadership over decades allegedly allowed instances of sexual harassment and other discriminatory behavior to go unchecked in the workplace, allegations that were raised in a previous Wall Street Journal article.
“We feel compelled to share a comprehensive account of systemic governance failures and abuses of power that have taken place over many years under the unchecked authority of Klaus Schwab,” states the letter, which said it was from current and former WEF employees.
Schwab denies the allegations and has declared his intention to file suit against his anonymous accusers and "anybody who spreads these mistruths," a Schwab family spokesperson said.
In a statement, the WEF said its board unanimously supported the decision to initiate an independent investigation “following a whistleblower letter containing allegations against former Chairman Klaus Schwab. This decision was made after consultation with external legal counsel.”
The WEF said it takes “these allegations seriously, but they remain unproven, and will await the outcome of the investigation to comment further.”
Trust between the WEF's board and Schwab had been deteriorating over the course of the past year, the Journal cited sources as saying.
The WEF board includes celebrities like cellist Yo-Yo Ma and politicians like Al Gore. It also has business leaders like AXA Group CEO Thomas Buberl and Accenture CEO Julie Sweet.
After Schwab's resignation, the board appointed Peter Brabeck-Letmathe, the former Nestlé CEO, as the interim chairman and established a search committee for the future chair’s selection.
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