New Allegations of Misconduct Surrounding the World Economic Forum Chairman, Klaus Schwab, Surface in Report

A new report about the longtime chairman and founder of the World Economic Forum, Klaus Schwab, alleges repeated instances of ethical and financial misconduct as well as inappropriate email messages being sent to younger employees of the organization by its 87-year-old leader.The report by a Swiss newspaper, SonntagsZeitung, also claims that Mr. Schwab manipulated the WEF’s influential Global Competitiveness Report to serve the political interests of the organization and misused WEF funds.Mr. Schwab’s forum, known for its annual gathering in the Swiss resort town of Davos that attracts CEOs and world leaders from across the globe, has long been criticized as the epicenter of a globalist agenda that promotes progressive policies such as climate change and wealth redistribution over national sovereignty and a capitalist ethos. The allegations against Mr. Schwab emerged following an investigation conducted by a Swiss law firm, Homburger, which was commissioned by the WEF’s board of trustees. Preliminary findings claim that Mr. Schwab repeatedly altered or withheld unfavorable rankings in the Global Competitiveness Report. The annual publication, which evaluated and ranked countries based on their economic competitiveness, was discontinued during the Covid pandemic. Mr. Schwab allegedly intervened to maintain diplomatic relations and avoid political fallout, particularly with countries in the Middle East and North Africa, as well as India. For instance, SonntagsZeitung reports that Mr. Schwab suggested withholding a negative ranking for India in 2017 after consulting with Prime Minister Modi. He allegedly also advised against improving the U.K.’s ranking out of concern it would be politically exploited by Brexit advocates. Both experienced a minor dip in that year’s report, with the U.K. and India falling to the eighth and 40th positions, respectively.In addition, the investigation reportedly highlights a number of questionable expense claims by Mr. Schwab and his wife, Hilde, totaling up to 900,000 Swiss francs, or $1.12 million. The expenses are alleged to lack sufficient ties to WEF activities, with Hilde Schwab reportedly billing her travel expenses to the organization despite holding no official role in it. Mr. Schwab has denied the allegations. “I am in a position to refute all the accusations brought up against me,” he told the Swiss outlet. He accused the WEF’s board of trustees of breaching an agreement regarding media discretion, adding, “I feel deceived. … I am willing to defend my interests with all my strength, even in the context of a legal dispute.” Mr. Schwab has also filed a criminal complaint against the whistleblowers who first brought the allegations to light. The WEF confirmed the existence of a whistleblower letter in April, initially reported by the Wall Street Journal, and announced it had launched an internal investigation. However, the organization stressed that the allegations remain unproven.The situation has placed the WEF in a leadership crisis, with Mr. Schwab abruptly stepping down in April after more than 50 years at the helm of the Geneva-based nonprofit. A successor has yet to be named. A WEF spokesman declined to comment on the newspaper’s findings, saying that the organization would respond once Homburger’s investigation is concluded, which is reportedly scheduled for the end of August.

New Allegations of Misconduct Surrounding the World Economic Forum Chairman, Klaus Schwab, Surface in Report

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