Klaus Schwab, the German economist who led the World Economic Forum (WEF) for over five decades, announced his resignation as chair of the board of trustees on April 21, 2025. This decision came amid increasing scrutiny over governance and a recent whistleblower letter alleging misconduct. His successor, former Nestlé CEO Peter Brabeck-Letmathe, a long-time advocate for corporate control over essential resources like water, has heightened concerns among critics. They argue that his appointment signals the WEF’s continued commitment to a centralised, globalist agenda that threatens individual freedoms.

Schwab founded the WEF in 1971, initially named the European Management Forum, and transformed it into a prominent platform for corporate and political elites. The annual Davos summit addresses issues ranging from economic inequality to climate change. However, Schwab's support for initiatives such as The Great Reset and the Fourth Industrial Revolution has faced criticism from conservatives and economists, many of whom accuse him of promoting dystopian, state-controlled policies under the guise of progress following the pandemic.

The WEF’s 2016 slogan - "Welcome to 2030: I own nothing, have no privacy, yet life has never been better" - highlighted these concerns, sparking conspiracy theories and critiques from politicians and activists who warned of a possible obsolescence of private property and personal autonomy. Schwab did not distance himself from this vision, stating in 2020 that the pandemic presented an "unprecedented opportunity to reassess, reimagine, and reshape our world," a sentiment later amplified as global cost-of-living crises intensified.

Despite his resignation, the WEF board praised Schwab’s "outstanding achievements," highlighting his "55 years of leadership" and the forum's evolution from a founder-managed initiative to a platform for global dialogue. These accolades starkly contrast with a recent revelation: an anonymous whistle-blower letter, obtained by The Wall Street Journal, contained fresh allegations regarding Schwab’s governance, prompting an investigative probe by the Audit and Risk Committee. Meanwhile, Schwab’s family has strongly denied and hinted at potential legal action against the letter's authors.

The interim chair's first actions highlight the continuity of Schwab’s vision. Brabeck-Letmathe, a Swiss businessman who served as Nestlé's CEO for 11 years, is notorious for his 2018 declaration: "Water is not a human right, but a commodity," which sparked global outrage. At Nestlé, he oversaw policies prioritising corporate water usage rights over community access, including lobbying against municipal water protections during droughts.

Activists and libertarians argue that Brabeck-Letmathe's elevation positions the World Economic Forum (WEF) as a means to further consolidate control over resources through centralised global governance. "If a Nestlé CEO who denies humans the water right is running Davos, it’s clear the WEF’s agenda is about profit and power, not public good," said Frank CNS, a critic cited in The Epoch Times. While the WEF claims its mission is "to improve the state of the world," critics point to Brabeck-Letmathe’s track record, which raises concerns, including his advocacy for strict regulatory oversight of personal water use, essentially institutionalising scarcity.

Schwab’s departure has elicited mixed reactions. While the WEF portrayed his exit as a natural evolution of leadership, conservative media suggested it was a strategic move to protect the organisation from scandal. Writing for Modernity, Steve Watson noted that Brabeck-Letmathe was "even more evil" than Schwab, highlighting his compliance with Nestlé’s industrial agriculture practices, which critics associate with water pollution in developing nations.

Supporters commend Brabeck-Letmathe’s experience navigating corporate-government collaboration, but dissenters argue that his interim role distracts from pressing issues like supply chain ethics. "This isn’t just a boardroom shuffle  -  it’s a coup for central planners," said Scott Stern, a columnist for Breitbart. "Brabeck’s appointment signals that regardless of who leads the WEF, the goal remains the same: global control without accountability."

The WEF originated from a 1971 gathering of European businesspeople seeking to improve corporate strategy. Over the decades, it has evolved into a platform that hosts presidents, central bankers, and UN officials, with its annual Davos summit often criticised as "the annual costume ball for the super-rich." Nonetheless, its influence has grown by aligning with the UN's post-1990s sustainability agenda and partnerships with think tanks like McKinsey.

Critics contend that the WEF's evolution reflects globalisation's tilt toward unchecked corporate power, with leaders like Schwab championing "stakeholder capitalism" as an alternative to democratic accountability. Although the "2030 slogan" has been revised to distance itself from Schwab, it remains central to the WEF's identity, casting doubt on its claims of transparency.

As Brabeck-Letmathe takes on his new role, critics of globalisation argue that this leadership transition will not weaken or postpone the World Economic Forum’s (WEF) main agenda. The forum is under increased scrutiny with investigations into Schwab’s alleged misconduct and the interim leader’s controversial background. However, the interconnected nature of its key projects - such as carbon credit schemes and digital ID frameworks - suggests that there will be ongoing struggles for control over resources and data.

For now, vigilance is essential. As the WEF prepares for its 2026 summit, the implications of its vision have never been more significant - or personal.