Investigation into Klaus Schwab

The World Economic Forum (WEF) announced on Wednesday that it has initiated an investigation into its founder and former Chair, Klaus Schwab, following his abrupt resignation. This decision comes in the wake of a whistleblower letter alleging misconduct, though the WEF has chosen not to disclose further specifics at this time.

Allegations of Misappropriation

According to a report by the Wall Street Journal, Schwab and his wife, Hilde, are accused of misusing WEF funds for personal benefits, blurring the lines between their private affairs and the organization's resources. The report suggests that the WEF's board of trustees convened an emergency meeting, leading to Schwab's immediate resignation and the launch of the investigation.

WEF's Stance

The WEF stated that the investigation was undertaken "after consultation with external legal counsel and in line with the Forum's fiduciary responsibilities," underscoring its commitment to transparency and accountability.