Serious accusations Schwab is now demanding millions from the WEF
Following anonymous accusations and internal pressure, WEF founder Klaus Schwab has lost his life's work - and is now demanding millions from the Forum.
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- Klaus Schwab resigned as WEF Chairman following allegations of blackmail
- An external law firm is investigating serious allegations about Schwab's conduct in office
- The ex-chairman is now demanding millions from the WEF for work done
The founder of the World Economic Forum (WEF), Klaus Schwab, has finally resigned following serious allegations and internal power struggles. Due to the ongoing investigations, he has also been banned from contacting his former employees and accessing his documents.
In a statement, Schwab speaks of a deliberate attempt to discredit him and his family. Nevertheless, an external investigation was quickly launched by the Homburger law firm. The internal pressure became so great that Schwab announced his resignation at Easter.
The allegations made are serious: Schwab is said to have instructed employees to withdraw cash, influenced the global competitiveness ranking and privately appropriated income from book sales.
No house ban according to the WEF
His son Olivier, a long-standing top manager at the WEF, also came under pressure: he is alleged to have inadequately punished sexual harassment of an employee. Following an external investigation led by former US Attorney General Eric Holder, Olivier Schwab had to leave the organization, as the "NZZ am Sonntag" reports.
Klaus Schwab is now demanding compensation of around eight million Swiss francs from the WEF - according to him, a special bonus for setting up the forum since 1971, which he had previously waived. This is what theSonntagszeitungwrites. He also refers to the millions that he and his wife Hilde have invested in various WEF-related foundations.
According to a WEF statement, Schwab was invited for clarification but did not take the opportunity. According to WEF spokesperson Yan Zopf, however, he has not been banned from the premises.
Former Nestlé CEO Peter Brabeck will be in charge of the Forum on an interim basis. According to the Sonntagszeitung, this will remain the case for the next two years. The current ECB President Christine Lagarde is set to take over the WEF in 2027.
