Investigation Unveiled

The World Economic Forum (WEF) has officially announced the initiation of an investigation into its founder and former Chair, Klaus Schwab. This decision comes in the wake of a whistleblower letter that brought forward serious allegations against Schwab, prompting immediate action from the WEF's board of trustees.

Allegations of Misconduct

According to reports, the allegations involve the misappropriation of WEF funds by Schwab and his wife, Hilde, for personal gain. The Wall Street Journal highlighted instances where the couple allegedly mixed personal affairs with the Forum's resources, lacking proper oversight.

Immediate Resignation

The emergency meeting held by the WEF's board of trustees resulted not only in the decision to investigate but also led to Schwab's abrupt resignation. The WEF stated that this move was made after consulting with external legal counsel, aligning with the Forum's fiduciary responsibilities.