“Ve have to address ze crisis!”
As we speak, 2,500 world leaders, chief executives, philanthropists, and other representatives of the global hyper-elite are gathered in Davos, Switzerland, for the World Economic Forum’s annual meeting. Who put this thing together? Klaus Schwab, that’s who. Who’s he? Read on!
By age 27, German-born Klaus Schwab had five degrees in mechanical engineering and economics. At 31, he became the youngest professor in Switzerland. At 33, he founded the World Economic Forum, in 1971, because he was worried about Europe’s economic future. The goal: teach American management methods to Europeans.
Now 70, Schwab still climbs mountains and participates in cross country ski marathons. He is also known for his expert dancing skills, which he has demonstrated—to much acclaim—at the event’s nightly parties.3. He brings his work home and keeps it in the family. His daughter Nicole is the founding director of the Forum’s Young Global Leaders initiative, and his former assistant Wife Hilde, one of his first three employees, has since co-founded the Schwab Foundation for Social Entrepreneurship.
Schwab keeps the Annual Meeting exclusive by limiting the Forum’s memberships to 1,000 of the world’s biggest corporations, which pay $39,000 a year for the privilege. Admission to the annual meeting is an additional $20,000. But those who work for governments, non-profits, and media outlets get to go for free.
Schwab bans those who have been indicted or whose companies are bankrupt. And if you’re retired, you can’t go either, no matter who you used to be.
Schwab is a master scheduler, who has to juggle the lineups to accommodate egos (Bill Clinton won’t attend unless he gets a primo speaking slot) and accidents (Arnold Schwarzenegger canceled an event in 2007 after breaking his leg in a skiing accident).
No one really knows who will succeed Schwab. A survivor of prostate cancer, he had hoped that José María Figueres, one of the Forum’s chief executives and a former president of Costa Rica, would take over. That idea was abandoned after Figueres had to resign upon failing to disclose $900,000 in consulting fees.
