The End of an Era in Davos: Schwab Steps Down from WEF Amid a New World Order
Klaus Schwab, founder and iconic figure of the World Economic Forum (WEF), has announced his immediate resignation as chairman and member of the organization’s board of trustees.
At 88, Schwab ends more than five decades at the helm of the Davos Forum, an event that has shaped the globalist agenda and brought together political, economic, and cultural elites in the Swiss town of Davos.
His departure, amid deep geopolitical transformations, raises questions about the WEF’s future and its influence in an increasingly polarized world. Is this the twilight of globalism or a calculated move to adapt to a new world order?
A Legacy of Power and Controversy.
Klaus Schwab, born in Ravensburg, Germany in 1938, founded the WEF in 1971 as the European Management Forum, initially aiming to introduce American business management practices in Europe.
In 1987, the organization evolved into the World Economic Forum, expanding its focus to global economic, social, and political issues.
Under Schwab’s leadership, Davos became synonymous with power, attracting over 3,000 world leaders each year—from heads of state to business tycoons—to discuss issues such as climate change, technology, and inequality.
The WEF has not only served as a platform for dialogue but also as a space for forging historic “deals.” In 1988, Greece and Turkey signed the Davos Declaration, averting an imminent conflict.
In 1994, Israel and the PLO reached a draft agreement on Gaza and Jericho during the forum. The influence of the WEF on such matters is undeniable.
It has always been a gathering of elites, promoting globalism that benefits multinational corporations while ignoring working-class citizens.
The term “Davos Man” emerged to describe this cosmopolitan elite, accused of prioritizing free trade and deregulation over national sovereignty.
The Unexpected Resignation.
Although Schwab had announced in May 2024 his intention to step down as executive chairman in January 2025, his immediate resignation surprised many.
In a statement, he said: “As I turn 88, I have decided to step down as chairman and member of the board of trustees with immediate effect.”
The WEF’s Board of Trustees accepted his resignation in an extraordinary session on April 20, appointing Peter Brabeck-Letmathe—former Nestlé CEO and then-vice chairman of the Forum—as interim chairman.
Børge Brende will remain as president while a permanent successor is sought. The organization stated that Schwab’s departure is part of a planned transition toward more institutional governance, moving away from a founder-centric model.
The Davos Forum and Its Globalist Vision.
The WEF has championed the “Great Reset,” a concept launched by Schwab in 2020 after the pandemic, which calls for a restructuring of the world order toward a more sustainable and equitable system.
This project, detailed in his book The Great Reset, has been praised by some as a progressive vision—but is, in truth, an elitist plan to impose global socialism.
Schwab also publicly praised the Chinese model, stating in 2022 that it is “a role model for many countries,” reaffirming his admiration for authoritarian regimes.
The Forum has promoted initiatives like the Fourth Industrial Revolution, aimed at integrating disruptive technologies such as artificial intelligence, and Stakeholder Capitalism, which emphasizes collaboration among governments, businesses, and civil society.
However, these ideas have been criticized for their lack of transparency and for primarily benefiting the corporations that fund the WEF—such as Iberdrola, which aligns with the UN’s Sustainable Development Goals while pushing for renewable electrification.
Schwab’s departure marks the end of an era for the World Economic Forum but also exposes the cracks in a globalist project that has lost touch with reality.
For decades, Schwab and the WEF have promoted an agenda that, under the guise of sustainability and cooperation, prioritized the interests of multinational corporations and cosmopolitan elites, leaving behind nations and their citizens.
His praise for the Chinese model and imposition of the “Great Reset” have not only fueled distrust but also revealed an authoritarian, disconnected vision obsessed with shaping the world in Davos’s image.
Schwab’s resignation does not redeem the WEF; rather, it underscores its failure to adapt to a world that no longer tolerates top-down prescriptions from exclusive summits.
The Forum’s future will depend on whether it can abandon its globalist arrogance—but its track record suggests it will remain a privileged club, increasingly irrelevant in a world demanding authenticity and freedom.
About The Author
