Investigation into Klaus Schwab’s Conduct at WEF

A recent internal inquiry detailed by the Wall Street Journal reveals that Klaus Schwab, the founder of the World Economic Forum (WEF), has been accused of inappropriate behavior towards female colleagues during his tenure. The investigation indicates that Schwab, aged 87, allegedly misused WEF resources for personal expenses, including hotel massages and other benefits that seemed to blur professional lines.

Preliminary findings from the investigation suggest that more than $1.1 million in transactions made by Schwab and his spouse were flagged as questionable. Expenses reportedly included first-class flights for his wife, who had no official role in the trips, as well as numerous hotel massages and travel to destinations like Venice. A spokesperson for Schwab claimed he regularly requested massages, yet it appears WEF paid for approximately half of those costs.

Moreover, the investigation highlights that Schwab and his wife reportedly received lavish gifts, such as personalized Tiffany cufflinks and Russian tea sets, which allegedly go against WEF policies. A representative stated that most of these gifts were either donated or displayed at the organization’s headquarters.

Among the specific accusations is an instance where Schwab sent a late-night email to a female executive in June 2020. His spokesperson maintained that this behavior does not reflect Schwab’s true character, asserting that the intention was to act more like a mentor.

Despite the investigation, Schwab has broadly denied the allegations against him. In May, he even filed a criminal complaint in Geneva, Switzerland, against those who accused him. Neither Schwab nor WEF has commented on requests for further details.

For the past decade, WEF has scrutinized Schwab’s conduct following a whistleblower’s complaint that led to the recent investigation, initiated in April. In May 2024, Schwab claimed to have taken a reduced, non-enforceable role as executive chairman, which, he suggested, lessened his influence within the organization.

In closing, Schwab expressed hope that the WEF would maintain its role as a constructive force in a divided world, even after his departure.