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WEF confirms investigation into claims against founder Schwab
The Star
|April 25, 2025
THE World Economic Forum said Wednesday it has launched an investigation into fraud allegations against its founder Klaus Schwab that reportedly prompted his resignation this week.
The 87-year-old Schwab, who for decades has greeted presidents and tycoons at the annual forum in the Swiss resort of Davos, said there was "not a shadow of proof" for the accusations.
He added in a statement to the Swiss newspaper Blick that he had started defamation proceedings.
In a statement confirming a Wall Street Journal report, the WEF said its board of trustees "unanimously supported the Audit and Risk Committee's decision to initiate an independent investigation following a whistleblower letter containing allegations against former Chairman Klaus Schwab".
The longtime forum leader suddenly resigned on Monday, "with immediate effect". In a statement at the time, the WEF board hailed Schwab's "outstanding achievements" in his 55 years in charge.
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