Resignation and severe allegations against WEF boss

Klaus Schwab wanted nothing less than « improving the state of the world ». At least that is the motto of the elite world economic forum, which founded Schwab, dominated for decades and formed into a global brand. Now there is a bad suspicion in the room: The German economic professor is supposed World Economic Forum (WEF) just have hurt massively. And: The authoritarian multimillionaire is also said to have harassed employees. This is what allegations against the 87-year-old, the tireless maker. His wife Hilde, who regretted the forum as a « First Lady », should no longer have a white vest.

The WEF is forced to initiate an independent examination against Schwab. The accusations weigh heavily. At the request of our editorial team, the WEF headquarters at Lake Geneva Switzerland: « The forum takes these allegations seriously. » But for Schwab, the presumption of innocence applies. One will « wait for the result of the investigation to make further comments ». A spokesman for the Schwabs rejected all allegations of financial and ethical misconduct in an interview with the « Wall Street Journal ».

Klaus Schwab resigned on Easter Monday – now there are allegations of corruption

One thing is certain: The days of the Schwabs at the World Economic Forum are numbered. On Easter Monday, Klaus Schwab surprisingly announced his resignation as chairman of the powerful board of trustees – the Council had already known the allegations against Schwab. Obviously, the gifted networker could not invalidate the allegations of the suspicion of the council members: In the committee, personalities such as ex-US vice president Al Gore, the head of the International Monetary Fund, crystalina Georgieva, and former handlebar of Siemens AG, Joe Kaeser.

After a glamorous career, Schwab has to admit his failure. The picture that Schwab loved so much, namely that of the globally worshiped host, who routinely routinely WEF annual meeting in the luxury location Davos headed, should now appear in a cloudy light. Will the many heads of state and government such as US President Donald Trump, France Emmanuel Macron or ex-Chancellor Angela Merkel, the business bosses like Bill Gates, who courted Schwab in the snow-covered mountains, want to know anything about him? « Schwab seems to be done, » says a former employee who does not want to be mentioned by name. « It is bitter for the man who stood in the spotlight for so long. »

The Schwab couple is said to have enriched themselves privately from the foundation’s assets

About the allegations against Schwab first had that Wall Street Journal reported. In a so-called whistleblower letter to the WEF foundation council, former employees had unpacked, anonymous. It is about the alleged abuse of power in Schwab’s female employees. In addition: Schwab and wife Hilde are supposed to have enriched themselves from the foundation’s assets on a small and large style. We are talking about private luxury trips that were invoiced to the WEF. Klaus Schwab had massaged in hotel rooms at the WEF’s expense. And they are said to have used a « property at the WEF bought by the WEF on Lake Geneva, » reports the broadcaster SRF. « The villa is said to have cost around $ 30 million and devoured around $ 20 million for renovations. » Schwab rejects all the reservations and filed a criminal complaint against unknown.

Klaus Schwab is a self-made man from Upper Swabia

The corned man was born in 1938 in Ravensburg in Upper Swabia, where the young Schwab at the Humanistic Spohn-Gymnasium acquired the Abitur. He later studied engineering in Zurich, in the Swiss Freiburg economy and went to Harvard. The resourceful academic founded the World Economic Forum in 1971 with modest means and expanded « Davos » to congress the superlative. The annual meeting in Davos in the Swiss mountains is one of the most important platforms for top politicians, top managers, scientists and representatives of civil society from all over the world.

Nevertheless, the WEF and Schwab have had to put up with criticism for a long time. Globalization opponents regularly brand the forum as a secret summit, in which politicians and managers over the heads of people drive turbo capitalism.

Ex-employees complained about racism and sexism in the pompous WEF headquarters at Geneva last year, and there is sometimes a climate of fear. For a long time, the allegations of Schwab perished, exposed statements by the WEF boss were accepted. « People try to always get the best out for themselves, » revealed Schwab in an interview from 2015. Sometimes someone spoke from their own experience?