NEWS ALERT: World Economic Forum founder Klaus Schwab steps down as chairman, now under investigation

April 23, 2025

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Klaus Schwab, World Economic Forum chairman and board member, announced his resignation on Monday. Now he’s under investigation.

From the Wall Street Journal: World Economic Forum founder Klaus Schwab is under investigation by the organization he created after a new whistleblower letter alleged financial and ethical misconduct by the longtime leader and his wife.

The anonymous letter was sent last week to the Forum’s board and raised concerns about the Forum’s governance and workplace culture, including allegations that the Schwab family mixed their personal affairs with the Forum’s resources without proper oversight, according to the letter and people familiar with the matter.

It included allegations that Klaus Schwab asked junior employees to withdraw thousands of dollars from ATMs on his behalf and used Forum funds to pay for private, in-room massages at hotels. It also alleged that his wife Hilde, a former Forum employee, scheduled “token” Forum-funded meetings in order to justify luxury holiday travel at the organization’s expense.

Klaus Schwab in recent days argued against an investigation, telling board members that he denied the unsubstantiated allegations and that he would challenge them in a lawsuit, the people said.

During an emergency board meeting on Easter Sunday, the WEF board of trustees voted to open an investigation into the new allegations. Schwab opted to resign immediately as the chairman, instead of staying on for an extended transition period as previously planned, the WSJ reported.

A spokesperson for Schwab declared he will be filing a lawsuit against whoever is behind the anonymous letter.

The letter also slams Klaus Schwab over how he allegedly treated female employees and how he allegedly allowed sexual harassment and other discriminatory behavior to go unchecked in the workplace.