The World Economic Forum (WEF) announced Tuesday, April 22, that it has launched an internal investigation into its founder, Klaus Schwab, following allegations outlined in a whistleblower letter first obtained by The Wall Street Journal. The announcement came just one day after Schwab, 87, resigned as chairman effective immediately.
“Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect.”
Klaus Schwab, former chairman of the Board of Trustees of the World Economic Forum
According to The Wall Street Journal, an anonymous letter sent to the WEF’s board last week raised concerns about “governance and workplace culture” within the organization. The letter alleged that the Schwab family intertwined personal matters and forum resources without proper oversight.
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The claims included accusations that Schwab instructed younger staff members to withdraw large amounts of cash from ATMs for him and used forum funds to pay for private, in-room massages at hotels. His wife, Hilde, a former forum staff member, was also accused of arranging forum-sponsored meetings as a pretense to take luxury vacations at the organization’s expense, according to the whistleblower.
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