Klaus Schwab announced on April 1 that he was stepping down as chairman of the World Economic Forum.
While the technocratic globalist organization indicated that its founder would complete his departure by January 2027, Schwab revealed Monday that he was stepping down immediately — and did so without providing a reason.
The Wall Street Journal revealed on Tuesday why Schwab left his post 20 months early.
Despite his protest, Schwab’s organization initiated an independent investigation Sunday into allegations that he engaged in financial and ethical misconduct.
The WEF’s board of trustees received an anonymous whistleblower letter last week detailing alleged “systemic governance failures and abuses of power that have taken place over many years under the unchecked authority of Klaus Schwab.”
According to the letter, which was attributed to unnamed current and former WEF employees, Schwab used forum funds to pay for private, in-room massages at hotels; asked junior employees to take thousands of dollars from ATMs out on his behalf; and allowed sexual harassment and other abuses to go unchecked in the workplace.
If the third of these complaints sounds familiar, that’s because it has been lodged against the forum multiple times before.
The Journal indicated in a damning June 2024 report that “under Schwab’s decades-long oversight, the forum has allowed to fester an atmosphere hostile to women and black people in its own workplace.”
The report — deemed “inaccurate” by the forum but based on internal complaints, email exchanges, and interviews with current and past WEF employees — contained allegations that: pregnant workers and returning mothers were mistreated; senior managers sexually harassed female underlings; black employees faced racist commentary and were passed over for promotions; and Schwab “made suggestive comments to [former staffers] that made them uncomfortable.”
‘He never had a chance to give his side of the story.’
One employee even filed a lawsuit in New York last year claiming the WEF was “hostile to women and black employees,” and the WEF settled on undisclosed terms.
The letter sent to the board of trustees last week reportedly also had much to say about the globalist’s wife, Hilde Schwab.
Hilde Schwab, a former WEF employee, scheduled “token” WEF-funded meetings abroad so that she could go on luxurious forum-funded trips, said the letter. She also allegedly bogarted a forum-owned 1958 modernist luxury property next to the WEF’s Geneva headquarters, which the organization spent $30 million to buy and $20 million to renovate.
A spokesman for the couple claimed that the Schwabs live nearby and have used the modernist mansion only for forum events. As for the other allegations, the spokesman told the Journal that the couple denies them all and intends to sue the authors and “anybody who spreads these mistruths.”
The board indicated that its audit and risk committee’s Sunday decision to launch a probe into the allegations was unanimous and “made after consultation with external legal counsel.”
Schwab tried to impress upon board members that the allegations were bogus, and unsuccessfully sought an opportunity to address the board during its emergency meeting.
“He never had a chance to give his side of the story to the board or the audit committee,” said the globalist’s spokesman.
When he resigned on Monday, Schwab reportedly forfeited his pension, which was worth over $6 million.
The WEF told the Journal that it takes the new “allegations seriously, but they remain unproven, and will await the outcome of the investigation to comment further.”
This will be the second investigation launched into the WEF in recent months.
The organization previously tasked the American firm Covington and Burling and the Swiss firm Homburger with looking into claims of workplace discrimination and harassment.
The external lawyers concluded in a summary of their assessment that they “did not find the forum had committed any legal violations” and “did not substantiate” the misconduct allegations against Schwab.
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World economic forum, Klaus schwab, Schwab, Wall street journal, Wef, Globalist, Sexual discrimination, Misconduct, Geneva, Politics
