Founder of World Economic Forum faces serious misconduct allegations
Klaus Schwab, the founder and now-former chairman of the World Economic Forum (WEF), is facing serious allegations including political interference, misuse of organizational funds, and inappropriate behavior toward staff, according to a report by Swiss newspaper SonntagsZeitung.
The preliminary findings of an internal investigation suggest that Schwab, 88, manipulated the Global Competitiveness Report, a once-prominent annual publication of the Forum, to serve political interests. The report alleges that he altered or suppressed negative rankings of certain countries—mainly in the Middle East, North Africa, and India—allegedly to maintain diplomatic ties or avoid political backlash.
In one instance, Schwab is said to have recommended that a critical assessment be “set aside” following discussions with a government official.
Further accusations claim that Schwab allowed his wife's travel expenses to be charged to the Forum, despite her holding no formal role within the organization. Additionally, he is accused of sending inappropriate and obscene messages to younger employees.
These allegations appear to have contributed to Schwab's recent resignation from the WEF, a non-profit organization best known for hosting the annual Davos summit, after more than five decades at its helm.
The World Economic Forum confirmed the existence of the complaint in April, following a report by The Wall Street Journal, and announced the launch of an internal investigation. However, it noted at the time that the allegations remain unproven.
Schwab has denied all accusations and has reportedly filed a lawsuit against the whistleblower behind the claims.
The Global Competitiveness Report, which evaluated and ranked countries based on their economic competitiveness, was discontinued during the COVID-19 pandemic. It had previously been regarded as a significant benchmark in international economic analysis.
As the investigation continues, the credibility of the World Economic Forum could face increased scrutiny, raising questions about governance and transparency at one of the world's most influential global institutions.
