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The dizzying fall of the King of Davos

Klaus Schwab was the undisputed “King of Davos” for 55 years. But when his downfall came, it was swift.

The 87-year-old founder of the World Economic Forum (WEF), which holds the annual conference in the Swiss alpine ski resort, fought until the end...

The WEF’s founding bylaws state “the Founder himself designates his successor”, and stipulates he or “at least one member of his immediate family” is on the board of trustees.

Mr Schwab’s plan was to move to a role as non-executive chairman and retire in stages, picking his successor.

But then whistleblowers sent a letter in an email to WEF trustees, including luminaries such Al Gore, the former US vice-president, and cellist Yo Yo Maa.

It accused Mr Schwab and his wife, Hilde, of misusing WEF funds. It said Mr Schwab had used company funds to pay for private massages, and he had redirected WEF resources and staff in a vainglorious bid to get nominated for the Nobel Peace Prize.

Even if not all of the allegations are true, nobody paying attention is likely to be even mildly surprised about this. There has never been the smallest hint of integrity about the WEF. 


The title of his book “The Great Reset” – about how the pandemic could remake global economies – has become shorthand for online extremists convinced that plots to create a world government are hatched at Davos.

Very few people realise Al Gore is a luminary but gosh, in spite of these allegations, how could anyone be so cynical about what have essentially been saintly gatherings of smart and well-intentioned people? They understand why they should direct the course of global affairs far better than we do -

Al Gore, Ursula von der Leyen, Emmanuel Macron, John Kerry, Joe Biden, Rachel Reeves, Angela Merkel...