Overview

• Klaus Schwab, founder of the World Economic Forum, resigned on April 21 following whistleblower allegations of financial and ethical misconduct.
• The WEF supervisory board has initiated an independent investigation, engaging external legal advisors to examine the claims.
• The whistleblower letter accuses Schwab and his wife, Hilde, of misusing WEF funds for personal expenses, including luxury travel and private massages.
• Schwab has been barred from WEF premises and prohibited from contacting former employees during the investigation.
• The Schwabs deny all allegations and have announced plans to pursue legal action against the whistleblower and others spreading the claims.