WEF probe uncovers $1.1M in questionable travel expenses by Klaus Schwab

A preliminary investigation into Klaus Schwab, founder of the World Economic Forum, has revealed over $1 million in questionable expenses billed to the WEF, along with allegations of personal conduct and ethical violations. The probe, conducted by Swiss law firm Homburger and commissioned by WEF’s board of trustees, follows whistleblower complaints and threatens to undermine Schwab’s legacy. Schwab, who led the WEF since its 1971 founding, stepped down as board chair in April amid the investigation, which is expected to conclude by August [1].

The findings highlight more than $1.1 million in travel expenses incurred by Schwab and his wife, Hilde, including first-class tickets to Davos-related events. Hilde, who holds no formal role at the WEF, reportedly accompanied Schwab on trips to Venice, Miami, the Seychelles, and Morocco, with the latter trip occurring in late 2024 to early 2025. Investigators noted minimal evidence linking these journeys to Forum activities [1]. Additionally, 14 hotel massages, a WEF-paid driver, and phone expenses for their Geneva residence were flagged. Schwab’s spokesperson defended these as justified due to security concerns and WEF-related hosting at their home [1].

Further scrutiny centers on the WEF-owned Villa Mundi, a Lake Geneva property. Investigators allege Schwab and Hilde oversaw costly interior renovations by a firm previously used for personal projects and that Hilde privately utilized the villa. The Schwabs denied orchestrating the design work or hosting events there. Gifts, including Russian tea sets and fur coats, were also cited as policy violations. Schwab’s spokesperson stated most gifts were donated or displayed at WEF headquarters [1].

Schwab has denied wrongdoing, emphasizing a “good-faith understanding” between the WEF and the Schwab Foundation, an affiliated nonprofit led by his wife. He pledged to reimburse any personal expenses after the investigation. However, Schwab accused the WEF board of breaching confidentiality in reporting the findings and declared himself “deceived,” vowing to defend his reputation legally [1].

WEF’s board of trustees acknowledged the gravity of the allegations but refused to comment on specifics, reiterating that Homburger’s investigation must remain independent. The board will assess findings without media speculation, according to a statement to Fortune [1]. The timeline for the investigation aligns with preparations for the 2026 Davos summit, underscoring the stakes for the Forum’s reputation.

Source: [1] [World Economic Forum founder Klaus Schwab and his wife cashed in on Davos with over $1 million in questionable travel expenses, investigation finds] [https://fortune.com/2025/07/23/klaus-schwab-wife-hilde-world-economic-forum-questionable-travel-expenses-investigation/]