The annual gathering of the global elite has commenced in the Swiss Alpine town of Davos, but this year's World Economic Forum (WEF) meeting marks a significant departure from tradition. For the first time since its inception, the event is proceeding without its founder at the helm, casting a shadow over the high-profile dialogue and deal-making.
A New Era for the Davos Forum
The 2026 edition of the World Economic Forum's annual meeting opened on Tuesday, 20 January, without the leadership of its founder, Professor Klaus Schwab. This follows the forum's board giving unanimous support in 2025 for an independent investigation into Schwab. The probe was launched after a report in The Wall Street Journal cited a whistleblower letter alleging financial and ethical misconduct by Schwab and his wife, Hilde.
The allegations surfaced just two days after the WEF announced Schwab had retired as chairman "with immediate effect." He has been succeeded on an interim basis by two co-chairs: Larry Fink, the chairman and CEO of New York-based investment giant BlackRock, and Andre Hoffmann, vice chairman of the Swiss pharmaceuticals company Roche Holdings.
Global Gathering Amidst Geopolitical Unease
The Geneva-based think tank, which first hosted the event in 1971 to improve European management standards, now draws a powerful crowd. This year, around 3,000 participants from 130 countries are expected in the Alpine resort until Friday. Among them are an estimated 850 CEOs and chairs of the world's leading companies, alongside academics, philanthropists, and media.
The dialogue occurs against a backdrop of considerable global tension, much of it centred on the United States. U.S. President Donald Trump is making his third presidential visit to Davos, but his attendance is underscored by international concern. Allies are reportedly anxious over his ambition to take over Greenland, while Latin American nations are grappling with his administration's efforts to capitalise on Venezuela's oil reserves.
Furthermore, business leaders and lawmakers within the U.S. have expressed growing unease about President Trump's hardball tactics towards Federal Reserve Chair Jerome Powell, adding a layer of domestic economic uncertainty to the international agenda.
Legacy and Scrutiny at a Pivotal Moment
The absence of Klaus Schwab fundamentally alters the character of this year's meeting. His vision shaped the forum for over five decades, transforming it from a modest conference on management into a premier platform for global leaders. The independent investigation represents a profound moment of scrutiny for the institution he built.
As the interim leadership of Fink and Hoffmann steers the event, participants will be watching closely to see how the forum navigates this transition while addressing urgent world issues. The convergence of corporate power, political influence, and philanthropic ambition in Davos now happens under a cloud of controversy, making the 2026 summit one of the most consequential in recent memory.
