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Founder of World Economic Forum denies 'financial and ethical misconduct' claims

The Guardian

|

April 25, 2025

The World Economic Forum has launched an investigation into its founder, Klaus Schwab, after whistleblowers reportedly accused him of manipulating research, using WEF funds to pay for private massages, and asking junior staff to withdraw thousands of dollars on his behalf.

- Kalyeena Makortoff

Founder of World Economic Forum denies 'financial and ethical misconduct' claims

The allegations - reportedly sent last week in a letter to the WEF, which organises the annual gathering of economic leaders at Davos in Switzerland - accuse Schwab and his wife, Hilde, of financial and ethical misconduct, which the family denies.

The accusations prompted Schwab's resignation as the WEF executive chair on Monday after its board of high-profile trustees - which includes the BlackRock chief executive, Larry Fink; the IMF managing director, Kristalina Georgieva; the former US vice-president Al Gore and the cellist Yo-Yo Ma - held an emergency meeting to look into the claims on Sunday.

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