For decades, Klaus Schwab ruled over Davos like royalty. That reign ended when he hit “send” on an email to World Economic Forum trustees on a recent Friday afternoon.

Schwab was seemingly headed for a graceful exit from the organization he founded more than a half-century ago, after a 2024 investigation by The Wall Street Journal exposed evidence of a toxic culture at the Forum for women and Black employees. But by Friday, April 18, the trustees’ audit committee recommended opening a probe into a new wave of whistleblower allegations against Schwab and his wife, Hilde.