WEF Probes Klaus Schwab for Misconduct Allegations

The World Economic Forum (WEF) has launched an independent investigation into its founder, Klaus Schwab, after an anonymous whistleblower letter alleged financial and ethical misconduct involving Schwab and his wife. The accusations include mixing personal affairs with WEF resources, such as using organization funds for private expenses and exclusive use of a Geneva property owned by the WEF. Schwab, 87, resigned as chairman citing his age, but did not provide further reasons. The WEF board, which includes figures like Al Gore and Christine Lagarde, stated the allegations remain unproven and will await the probe's findings before further comment. Schwab and his family have denied the claims and plan legal action against the accusers. The WEF has also faced prior criticism over its internal culture and elitist reputation, which it disputes.