One day after it was reported that World Economic Forum founder Klaus Schwab, 88,
resigned after Chairman after 55 years, the
WSJ reports that
Schwab is under investigation by the organization he created after a whistleblower alleged
financial and ethical misconduct by Mr. "eat the bugs" and his wife.
- Schwab asked junior employees to withdraw thousands of dollars from ATMs on his behalf and used Forum funds to pay for private, in-room massages at hotels.
- His wife Hilde, a former Forum employee, scheduled “token” Forum-funded meetings in order to justify luxury holiday travel at the organization’s expense.
- The letter also raises concerns about how Klaus Schwab treated female employees and how his leadership over decades allegedly allowed instances of sexual harassment and other discriminatory behavior to go unchecked in the workplace
Other allegations include
the Schwab family's use of Villa Mundi - a luxury property bought before the pandemic by the Forum located next to the organization's Geneva headquarters, which the whistleblower letter maintains that Hilde Schwab
maintains tight control over, and which the forum paid $30 million to purchase and another $20 million to renovate - also overseen by Hilde.