A report by Swiss newspaper SonntagsZeitung has stated that initial findings from an ongoing investigation into the conduct of Klaus Schwab, founder and long-time head of the World Economic Forum (WEF), suggest that he may have manipulated key economic rankings and submitted unjustified expense claims.
Citing excerpts from the probe led by Zurich-based law firm Homburger, the report claims Schwab intervened repeatedly in the WEF’s influential Global Competitiveness Report, allegedly adjusting country rankings for political considerations.
The investigation follows Schwab’s abrupt resignation in April 2025 amid swirling allegations of financial misconduct.
Political pressure over rankings
One of the most striking allegations involves a 2017 email in which Schwab reportedly instructed then-WEF managing director Richard Samans to delay the release of that year’s Competitiveness Report.
The reason, according to the report, was to avoid straining ties with Indian Prime Minister Narendra Modi after India ranked poorly in the index.
- In the same exchange, Schwab is said to have advised against improving the United Kingdom’s position in the rankings, warning that it could be leveraged by Brexit supporters.
- Despite those efforts, the report was eventually published, showing India and the UK each dropping one spot to 40th and 8th place, respectively.
- The report also highlights a 2022 episode in which Schwab allegedly shared a draft version of the rankings with an official from a country whose standing had declined, suggesting the results should not be released.
- That year’s report was ultimately shelved, with the WEF citing “uncertainty surrounding the Covid-19 pandemic” as the official reason.
Questions over CHF 900,000 in expenses
Beyond the report manipulation claims, the investigation has flagged roughly 900,000 Swiss francs ($1.12 million) in expense submissions from Schwab and his wife, Hilde.
According to SonntagsZeitung, many of these expenses lacked clear connections to WEF activities, raising fresh questions about financial governance under Schwab’s leadership.
The WEF declined to comment when contacted by Bloomberg, stating that it will issue a response once the investigation is completed, likely by the end of August. Schwab’s personal spokesperson also declined to comment.
- Despite stepping down amid mounting scrutiny, Schwab has denied all allegations and filed a criminal complaint over the claims that triggered his resignation.
- His departure earlier this year marked the end of an era for the Davos-based organization, which he founded in 1971 and led for over five decades.
- But the legacy of his leadership may now be clouded by growing concerns over transparency, governance, and political interference.
