Mariane Angela News Reporter
April 23, 2025 12:48 AM ET
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Klaus Schwab, founder of the World Economic Forum (WEF), is facing renewed scrutiny from the very institution he built, after a whistleblower’s letter alleged financial and ethical misconduct involving both him and his wife Hilde.
The anonymous letter, delivered to the Forum’s board last week, accused the Schwabs of misusing WEF resources for personal gain and raised concerns about the organization’s culture and governance, according to The Wall Street Journal. The letter claimed Schwab directed junior staff to withdraw large sums of cash from ATMs on his behalf and used WEF funds for hotel room massages.
The letter also alleged that Hilde Schwab arranged nominal WEF meetings to justify luxury travel funded by the organization. Schwab, who has been at the helm of the Forum since its founding, denied the allegations and pushed back against a formal probe, saying the claims were false and threatening legal action against the letter’s author and anyone who spreads the accusations.
Despite his objections, the Forum’s board convened on Easter Sunday and voted to launch an independent investigation, as advised by outside legal counsel. Schwab abruptly resigned as chairman rather than complete a phased transition, a move that upended plans for him to step down gradually by 2027.
A Forum spokesperson said the board acted unanimously, stressing that the allegations remain unproven, pending the investigation’s...
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