The World Economic Forum is teetering on the brink of Davos disaster. The Wall Street Journal ran a very interesting story yesterday headlined, “World Economic Forum Opens New Probe Into Founder Klaus Schwab.” Schwab, 88, not known for his grace, was forced by the rush of events to pivot like a ballerina, spinning away from his previous promise to retire in slow motion. “Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” he said in a statement released on Easter Sunday.
There were more accusations. Klaus denies everything. None of it is true, not one bit. It is all lies! Lies, I zay!
Regular readers will recall we recently discussed the aging German globalist and how the Wall Street Journal had originally pushed him along the path toward retirement, with an ugly article about his icky MeToo moments. I predicted the long knives were out for Klaus; that prediction appears to have been correct.
Since the first article only partly dislodged the Bavarian barnacle from the Davos-based super-NGO that he created, the knives were sharpened again, and this weekend, they plunged into the heart of the W.E.F.’s sacrificial lamb.
The knives took the form of an anonymous ‘whistleblower letter,’ allegedly authored by current and former WEF employees, which went off like dynamite at the highest levels of the organization. It was sensational. The letter, addressed to the WEF’s board of trustees, cataloged a series of explosive allegations against Klaus Schwab and his wife Hilde. Board members —global business and political luminaries— got the letter last week and promptly convened an emergency Easter Sunday meeting, where they unanimously voted to launch an independent investigation.
Rather than face the inquiry, Schwab —who’d previously announced an extended exit for next year, or maybe the one after that— resigned effective immediately, ending his decades-long reign in a single, jarring stroke.
The letter’s allegations paint a portrait not of global stewardship, but of a family-run fiefdom masquerading as a charitable organization. While the World Economic Forum publicly touted its mission to uplift humanity and promote equitable global development, the insiders alleged that Klaus and Hilde Schwab focused their charity much closer to home. The whistleblower letter accused the Schwabs of funneling Forum resources into lavish personal indulgences—charging private, in-room hotel massages to the nonprofit, directing junior employees to withdraw thousands in cash on Klaus’s behalf, and orchestrating Forum-funded “token” meetings to justify luxury travel.
Klaus’s massage is finally over. Rudely, and without a happy ending this time.
The letter also claimed that Hilde basically controls Villa Mundi, a $50 million lakefront mansion purchased and renovated by the Forum. Hilde reserved large parts of it for Schwab family private use. Meanwhile, of course, U.S. taxpayer funds—tens or hundreds of millions of dollars funneled through USAID and who knows where else—flowed through the Forum allegedly on the way to high-minded programs, while Klaus and Hilde lived like Saudi oil billionaires.
No wonder they think we’re idiots. We are idiots. They figured out how to get rich without creating anything, and they used our money, which we handed right over without a peep. The World Economic Forum is a parasitarium where new bureaucratic leeches are trained in the globalism grift. It was always just about money.
Now. Why did the whistleblowers’ letter prompt the swanky board of trustees to hold an emergency meeting on Easter Sunday? Because that letter constitutes an existential threat.
The board of trustees —an assemblage of billionaires, bureaucrats, and celebrity sages (Al Gore is one)— scrapped their holiday plans and their religious observances (okay, maybe that’s a stretch), and convened the emergency meeting on Sunday to start an independent investigation, which signaled to Schwab that he himself has become an unaffordable luxury. Ironic.
The letter constitutes an existential threat because its allegations strike at the core of the Forum’s carefully manicured image as a noble convener of global progress. If the allegations are true, and I bet they are, they suggested that the organization’s founder had quietly converted the sprawling “nonprofit” into a luxury benefits package for himself and his wife, funded by taxpayers and gullible donor states.
So the board had to act fast— not to serve justice, but to preserve the brand.
The Forum’s “brand” is cloaked in high-minded rhetoric —“public-private cooperation,” “inclusive capitalism,” “sustainable futures”— but with help from WEF insiders and the Wall Street Journal, the public is discovering that the “non-profit” looks a lot more like a high-society influence laundromat, a finishing school for unelected technocrats, and a networking club where moral posturing masks financial extraction. The real sustainability was always the sustainability of the long con.
If the Forum was a beacon of global philanthropy, it shined brightest, it seems, inside the Schwabs’ own pocketbooks.
By definition, we cannot see what’s happening behind the velvet curtain. But from here in the cheap seats, it sure looks like there’s a coordinated effort underway to torch the World Economic Forum and salt the earth beneath it. If so, I will welcome the bonfire. Literally overnight, Klaus Schwab has been painfully and publicly yanked out like a rotten wisdom tooth, and whatever mystical aura the Forum once projected is curdling with the scent of its smoked credibility.
Just one year ago, the WEF appeared to be the brain stem of a dawning, technocratic, utopian octopus. Now, its name is veering toward becoming the punchline of a sick joke.
Things are moving fast. Pay attention.
And the hits just keep rolling in, I LOVE IT!
Now do algore
These billionaires could put up their own money so not doing so shows just how crooked these people are.
Argentina may not be as welcoming this time “Mein Führer”,
I see where he is now under Investigation for Corruption and I hope they throw the Book at Him
The rank hypocrisy here is intoxicating… Honest brokers at WEF, surely it’s just damsge control at best! The optics of a global ‘4th Reich’ under KKKlaus is self defeating… occasioning his prompt exit!