After more than five decades at the helm of the World Economic Forum, Klaus Schwab, the founder who played a pivotal role in transforming Davos into a global gathering for political, business, and academic leaders, has stepped down, just days before his 87th birthday and in the midst of emerging controversy.
Schwab’s resignation, announced on April 21, brings to an end a 55-year tenure that saw the World Economic Forum grow from a modest Swiss meeting to a prominent platform for global dialogue.
While many have recognized his contributions to international discourse, Schwab’s leadership was also frequently criticized for the perception of elitism within the organization.
Two days after his departure, new allegations surfaced. An anonymous letter, currently under investigation, accuses Schwab and his wife of misusing WEF funds.
The timing of these claims has raised questions about his legacy and is the subject of ongoing scrutiny.
Schwab, who has been a strong advocate for causes such as climate action, social entrepreneurship, and AI governance, is now facing increased attention to his leadership practices, particularly following reports in 2024 suggesting that he encouraged the dismissal of employees over the age of 50 to “rejuvenate” the organization.
With a background as a professor, engineer, and economist, Schwab’s influence on global affairs is undeniable.
Photo: X.com@ProfKlausSchwab