"Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect," Schwab said in a statement Sunday.

Schwab, 87, had previously announced that he would step down as the Forum's chairman, and the Forum would launch a succession process to be completed by January 2027. The whistleblower report sped up that timeline.

A Schwab family spokesperson denied the allegations in the whistleblower report, which claimed Schwab asked subordinates to withdraw thousands of dollars from ATMs on his behalf and used Forum funds to pay for private, in-room massages at hotels. The report also alleged that Schwab's wife, Hilde, a former employee of the organization, scheduled "token" meetings in order to justify luxury holiday travel, billing the Forum.

The report also repeated concerns about how Schwab treated female employees, warning that his leadership allegedly allowed instances of sexual harassment and discriminatory behavior to go unchecked in the workplace. The Forum had previously investigated these concerns and disputed them.

The World Economic Forum Board of Trustees met Sunday to accept Schwab's resignation.

Sources close to the matter told The Wall Street Journal that Schwab asked the board not to investigate the whistleblower report, but the board opened the probe, anyway.

The Forum had been shaking up its leadership in recent weeks in response to a previous board probe into its workplace culture. Forum CEO Børge Brende said that investigation did not substantiate the allegations against Schwab.

This turmoil comes amid a growing global backlash to the World Economic Forum's globalist vision.

Newly-inaugurated President Donald Trump addressed the Forum's annual meeting in Davos, Switzerland, on Jan. 23. In his speech, the president condemned the previous administration's policies, which echoed the Forum's advocacy.

"What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense," Trump said. "My administration is acting with unprecedented speed to fix the disasters we've inherited from a totally inept group of people and to solve every single crisis facing our country."

Among other things, he touted his withdrawal from the Paris Climate Accord—which the World Economic Forum supports—and his moves to "abolish all discriminatory diversity, equity, and inclusion nonsense"—another ideological initiative the Forum wholeheartedly backs.

Outgoing ...Joe Biden awarded George Soros, the Hungarian American globalist billionaire, the Presidential Medal of Freedom. As I wrote in my book, "The Woketopus: The Dark Money Cabal Manipulating the Federal Government," Soros-funded groups infiltrated and advised the Biden administration, pushing it in a globalist direction.

In addition to the Paris agreement and DEI programs, the World Economic Forum has advocated a host of social and political changes that critics say would empower elites at the expense of personal freedom and economic progress. Schwab co-wrote the book, "COVID-19: The Great Reset," published in July 2020, which outlines how the COVID-19 pandemic disrupted social and economic systems and calls for sweeping changes "to create a more inclusive, resilient, and sustainable world going forward."

Heritage Foundation President Kevin Roberts traveled to Davos, Switzerland, for the Forum's annual meeting in 2024, and condemned its globalist advocacy. He faulted the World Economic Forum for claiming that climate change poses an existential threat to humanity, that illegal immigration is positive, and that there is no public safety threat in large American cities.

"I will be candid and say the agenda that every single member of the administration needs to have is to compile a list of everything that has ever been proposed at the World Economic Forum and object to all of them wholesale," Roberts said, speaking as a leader of America's conservative movement. "Anyone not prepared to do that and take away this power of the unelected bureaucrats and give it back to the American people is unprepared to be part of the next conservative administration." Subscribe for free to Breaking Christian News here

Tyler O'Neil is senior editor at The Daily Signal and the author of two books: "Making Hate Pay: The Corruption of the Southern Poverty Law Center," and "The Woketopus: The Dark Money Cabal Manipulating the Federal Government."

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