CRIMINAL CAPITALI$M
WEF probe findings reportedly show Schwab manipulate competitiveness report to serve political interests
Schwab stepped down from the World Economic Forum after a whistleblower made allegations against him.
Preliminary findings from a probe into World Economic Forum founder Klaus Schwab reveal that he allegedly manipulated the landmark Global Competitiveness Report to serve political interests and sent lewd emails to younger employees, Swiss newspaper SonntagsZeitung reported on Sunday.
The probe also showed that his wife allegedly billed trips to the WEF despite holding no official position with the organization, according to the report.
These findings appear to corroborate allegations contained in a whistleblower letter, which accused Schwab of financial misconduct — including misuse of WEF funds and inappropriate treatment of employees.
The accusations reportedly prompted Schwab to step down from his role as chairman at the WEF — a non-profit best known for its annual gathering of global elites in Davos, Switzerland — after more than half a century at its helm.
In April, the WEF confirmed the existence of the whistleblower letter — first reported by the Wall Street Journal — and said it had launched an internal investigation, while stressing that the misconduct allegations “remain unproven.”
Schwab has denied the accusations and filed a criminal complaint against the whistleblowers. The WEF did not immediately respond to POLITICO’s request for comment.
SonntagsZeitung reported that the probe's preliminary findings indicate that Schwab's alleged wrongdoing could include meddling with the Global Competitiveness Report — a now-defunct yearly publication that assessed and ranked countries based on their economic competitiveness. The competitiveness report was discontinued during the Covid-19 pandemic.
Official documents cited by SonntagsZeitung allege that Schwab intervened multiple times to alter or suppress unfavorable rankings for certain countries, particularly in the Middle East and North Africa and in India, allegedly to preserve diplomatic relations or avoid political fallout. In one instance, Schwab reportedly recommended shelving a negative report after discussing it with a government official, according to the newspaper.
The investigation also reportedly concerns up to 900,000 Swiss francs in expenses filed by Schwab and his wife, Hilde.
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