Klaus Schwab, founder of the World Economic Forum (WEF), resigned as chair on April 21, 2025, stating he was entering his 88th year. Following his resignation, allegations of financial and ethical misconduct surfaced, including misuse of WEF funds for personal expenses and improper employee treatment. After receiving a whistleblower letter, the WEF launched an independent investigation into these claims, which was supported unanimously by its board.