The Latest: Word Economic Forum opens in Davos for first time without founder

By The Associated Press

DAVOS, Switzerland (AP) — The annual meeting of The World Economic Forum attracts corporate executives, academics, philanthropists and media to the Swiss Alps town of Davos for dialogue, debate and deal-making.

The Geneva-based think tank first hosted the event in 1971 with the goal to improve European management. Beginning Tuesday, 850 CEOs and chairs of the world’s top companies are expected to be among 3,000 participants from 130 countries in the Alpine resort through Friday.

U.S. President Donald Trump’s third visit to Davos as president comes as U.S. allies worry about his ambition to take over Greenland, Latin America grapples with his efforts to reap Venezuela’s oil and business leaders and lawmakers at home express concerns about his hardball tactics toward Federal Reserve Chair Jerome Powell.

Here is the latest:

WEF opens without founder

This year’s edition of the World Economic Forum will be the first not headed by forum founder Klaus Schwab. The board gave its unanimous support in 2025 for an independent investigation of Schwab following a report by The Wall Street Journal.

The report cited a whistleblower letter alleging financial and ethical misconduct by Schwab and his wife, Hilde. The allegations emerged two days after the WEF announced Schwab had retired as chairman “with immediate effect.”

He was succeeded by interim co-chairs Larry Fink, chairman and CEO of New York-based investment management company BlackRock, and Andre Hoffmann, the vice chairman of Swiss pharmaceuticals company Roche Holdings.

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AP World Economic Forum: https://apnews.com/hub/world-economic-forum