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News Clash

Are Corruption Claims The REAL Reason Klaus Schwab Just Stepped Down From WEF Leadership?

Gee what are the odds?

We’ve got a shadowy group of super-oligarchs hellbent on tellling the rest of the world how to live, led by a guy who dresses like a Bond Villain… and we’re supposed to be surprised about corruption allegations?

But for the world learning about the Pope’s death on Monday, Klaus Schwab stepping down from leading the WEF might have made for bigger headlines.

Those headlines would be bigger still if what’s now alleged against him can be proven.

The ‘you will own nothing and be happy’ cabal who demands a world in which ‘the poors’ will gladly ‘Eat Ze Bugs’ has a very different expectation of his OWN family’s lifestyle.

There’s something amusing about a multi-billionaire being investigated by WEF of all people for bogus use of an expense account. Perhaps even billionaires can be tightwads who would gladly let someone ELSE pay for their lavish lifestyle.

If the allegations are true, Klaus may be one of the most outrageous examples of that we’ve yet seen.

The anonymous letter was sent last week to the Forum’s board and raised concerns about the Forum’s governance and workplace culture, including allegations that the Schwab family mixed their personal affairs with the Forum’s resources without proper oversight, according to the letter and people familiar with the matter.
It included allegations that Klaus Schwab asked junior employees to withdraw thousands of dollars from ATMs on his behalf and used Forum funds to pay for private, in-room massages at hotels. It also alleged that his wife Hilde, a former Forum employee, scheduled “token” Forum-funded meetings in order to justify luxury holiday travel at the organization’s expense.
Klaus Schwab in recent days argued against an investigation, telling board members that he denied the unsubstantiated allegations and that he would challenge them in a lawsuit, the people said.
The board of trustees decided to open a probe during an emergency meeting on Easter Sunday. Schwab opted to resign immediately as the chairman, instead of staying on for an extended transition period as previously planned. — WSJ

The MeToo angle to the allegations describes misogynistic attitudes and a look-the-other-way leadership approach. These come above and beyond earlier allegations about the WEF discriminating against female and black employees.

Klaus is taking the allegations personally, denying them forcefully, and planning to bring suit against anyone behind this story.

The truth or falsity of some aspects of the allegations — specifically the ATM transaction claims — should be straightforward. Others, like the treatment of female staffers or claims surrounding Villa Mundi being leveraged for personal use, might be more difficult to sort out.

With Mark Carney in his final week of campaigning to be confirmed by Canadian voters as the actual successor of Justin Trudeau, such a blow to his beloved WEF must be distressing indeed.

Wes Walker

Wes Walker is the author of "Blueprint For a Government that Doesn't Suck". He has been lighting up Clashdaily.com since its inception in July of 2012. Follow on twitter: @Republicanuck