World Economic Forum approves fresh probe into whistleblower allegations targeting founder Klaus Schwab

WEF Orders Outside Probe Into Allegations Against Klaus Schwab

The World Economic Forum (WEF), famous for its annual Davos summit of global power players, has authorized an independent investigation into whistle-blower accusations leveled at its long-time founder, Klaus Schwab.

Sudden Departure and Anonymous Letter

News of the inquiry surfaced one day after Schwab, 87, abruptly resigned as chair and left the Forum’s Board of Trustees. According to The Wall Street Journal, an unidentified whistle-blower sent a letter to the board — whose members include former U.S. Vice President Al Gore, Queen Rania of Jordan and European Central Bank chief Christine Lagarde — accusing Schwab and his wife, Hilde, of financial and ethical lapses.

Key claims in the letter allege that Schwab:

1. Directed staff to withdraw large sums of cash from ATMs for his personal use.

2. Billed Forum accounts for private, in-room massages while traveling.

Hilde Schwab, a former WEF employee, was said to have set up “token” business meetings to justify luxury vacations paid for by the organization.

Family Pushback

A spokesperson for the Schwab family rejected the accusations, insisting that Klaus Schwab reimbursed the Forum for any personal services charged to hotel rooms. The family also signaled plans to sue both the anonymous author and “anyone repeating these falsehoods,” the Journal reported.

Emergency Board Meeting and Investigation Details

Facing the allegations, the WEF board convened an emergency session over Easter weekend. After consulting outside counsel, the trustees unanimously empowered the Forum’s Audit and Risk Committee to open an external review.

“While the Forum takes these allegations seriously, they are unproven,” the organization said in a statement sent to Fox News Digital, adding that progress reports would be shared with the board as the probe unfolds.

Peter Brabeck-Letmathe will serve as interim chair, with President and CEO Børge Brende continuing to oversee day-to-day operations.

Praise for a Long Tenure

In announcing Schwab’s retirement, the board lauded his “55 years of relentless leadership,” crediting him with building a premier venue for cross-sector dialogue. The WEF pledged to keep convening leaders from business, government and civil society “at a moment when inclusive conversation has never been more critical.”

Davos in the Spotlight

The annual Davos gathering routinely draws heads of state, CEOs, academics, activists and celebrities to discuss global economic issues. Earlier this year, President Donald Trump addressed attendees virtually, calling recent policy moves a “revolution of common sense” that would usher in a “Golden Age” for the United States and greater prosperity worldwide.