Summarised by Centrist
Klaus Schwab, architect of the World Economic Forum and darling of the global elite, has been forced out after 55 years amid serious allegations of corruption, abuse of power, and lewd behaviour.
The 87-year-old founder of the WEF was accused of misusing millions in organisational funds, manipulating economic data for political purposes, and sexually harassing staff.
Internal leaks reveal he splurged tens of millions on a villa in Geneva, racked up nearly £1 million (NZD $2 million) in personal expenses, and interfered in the WEF’s rankings to punish Brexit Britain.
One whistleblower accused Schwab of trying to sabotage UK competitiveness so the data would not help the pro-Brexit camp. Others claimed he used staff and WEF resources to engineer a Nobel Peace Prize nomination for himself.
Female employees alleged disturbing conduct, including “embarrasing interactions”, suggestive remarks, and unwanted advances. In one case, Schwab allegedly positioned his crotch in front of a staffer’s face and said he wished she were Hawaiian so he could see her in costume.
Allegations note the WEF fostered a toxic workplace where pregnant women were sidelined, black employees were mistreated, and young female staff were handpicked for photo ops. Former employees created a WhatsApp group called “WEFugees” to share horror stories.
Schwab has denied all wrongdoing and complained about media leaks. In April, following a 48-hour standoff during which he threatened to file a criminal complaint against the board for pursuing further investigation into his activities, he ultimately chose to resign.
Read more over at The Daily Telegraph (paywalled)
