The World Economic Forum – the globalist body that hosts its annual gathering of elites in Davos, Switzerland – is supporting an independent investigation into whistle-blower allegations brought against its founder, Klaus Schwab, Fox News Digital has confirmed. 

The whistleblower complaint was first reported by the Wall Street Journal on Tuesday, a day after Schwab, 87, stepped down as chairman and as a member of the Board of Trustees, effective immediately. 

According to the Journal, an anonymous whistleblower penned a letter to the board – which includes former Vice President Al Gore, Jordan’s Queen Rania and European Central Bank President Christine Lagarde as members – alleging financial and ethical misconduct by Schwab and his wife, Hilde. The claims included that Schwab allegedly tapped subordinates to withdraw thousands of dollars from ATMs on his behalf and used WEF funds to pay for private, in-room massages at hotels. 

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The letter reportedly also alleged his wife, a former WEF staffer, arranged «token» meetings funded by the forum to rationalize luxury holiday travel on the organization’s tab. 

A spokesperson for the Schwab family denied all allegations about luxury travel and withdrawing money, telling the Journal that Klaus Schwab would always pay the forum back for any massages charged to hotels while traveling. The spokesperson also told the Journal that the family plans to file a lawsuit against whoever was responsible for the whistle-blower letter and «anybody who spreads these mistruths.» 

The Journal reported that the board convened an emergency meeting on Easter Sunday about the whistle-blower allegations to consider a course of action. 

«The Board of Trustees of the World Economic Forum unanimously supported the Audit and Risk Committee’s decision to initiate an independent investigation following a whistleblower letter containing allegations against former Chairman Klaus Schwab,» the WEF said in a statement obtained by Fox News Digital. «This decision was made after consultation with external legal counsel and in line with the Forum’s fiduciary responsibilities.» 

«The investigation will be led by the Audit and Risk Committee with the support of independent legal experts,» the statement continued. «The Committee will move expediently to determine its processes and parameters and will share its progress with the Board. While the Forum takes these allegations seriously, it emphasizes that they remain unproven, and will await the outcome of the investigation to comment further.»

President Donald Trump during his address by video conference at the World Economic Forum (WEF) annual meeting in Davos on Jan. 23, 2025.  (FABRICE COFFRINI/AFP via Getty Images)

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«Under the interim chairmanship of Peter Brabeck-Letmathe and the continued leadership of President and CEO Børge Brende, the Forum remains fully committed to its mission and responsibilities.» 

In announcing Schwab’s departure on Monday, WEF said its board «acknowledged the outstanding achievements of the retired» Schwab. 

«He created the leading global platform for dialogue and progress, and the Board expressed its gratitude for his 55 years of relentless leadership at the helm of the Forum,» the WEF said in a statement. «At a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical. The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration.» 

Participants follow Donald Trump’s speech during the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland on Jan. 23, 2025.  (Halil Sagirkaya/Anadolu via Getty Images)

The annual meeting in Davos for years has brought together top business executives, government leaders, academics, international organizations, cultural figures, sports legends and celebrities for conversations on world economic affairs. 

President Donald Trump addressed the Davos meeting remotely in January, just three days after his inauguration. 

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«What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense,» Trump said, speaking of his plan to begin a «Golden Age» for America. «Our country will soon be stronger, wealthier and more united than ever before, and the entire planet will be more peaceful and prosperous as a result of this incredible momentum and what we’re doing and going to do.» 

The so-called «Biden effect» appears to be a factor in congressional longevity after Senate Minority Whip Dick Durbin announced he would not seek re-election after nearly four decades in Congress.

In 2024, President Joe Biden was politically pushed out after a disastrous debate performance against President Donald Trump in favor of his decades-younger deputy, Kamala Harris.

Since then, several senators – mostly Democrats – and many above private-sector retirement age, have announced their retirement.

«This is fallout from the ‘Biden Effect,’» said Rutgers University political scientist Ross Baker. «It contaminated old Democrats.»

Durbin, 80, Sens. Jeanne Shaheen, D-N.H., 78, Tina Smith, D-Wis., 67, Gary Peters, D-Mich., 66, as well as Mitch McConnell, R-Ky., 83, all announced their exit in 2025.

Prior to Biden’s infamous debate, several 2024-cycle Democrats – now-former Sens. Benjamin Cardin of Maryland, 81, Tom Carper of Delaware, 78, Debbie Stabenow of Michigan, 74, and Democrat-turned-independent Joe Manchin of West Virginia, 77 – all declared their exits.

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Sen. Chuck Schumer, President Joe Biden and Sen. Dick Durbin are all considered subject to the «Biden effect.» (Getty)

Durbin’s seat has already been targeted by up-and-coming Illinois Lt. Gov. Juliana Stratton, 20 years his junior – who announced a bid shortly after he announced his retirement.

Of the members still seated in Congress, Senate Minority Leader Chuck Schumer, D-N.Y., 74, is potentially facing a heated primary in 2028 from the likes of progressive star Rep. Alexandria Ocasio-Cortez, 35.

After Schumer faced intense backlash from his own party for ultimately supporting the GOP’s government funding bill earlier this month, Ocasio-Cortez’s name returned to the discussion as a young upstart potentially taking out the old guard.

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Schumer saw his worst polling within the Empire State in 20 years, according to a Siena College survey, with the Brooklynite 10 points underwater following the funding bill debacle.

Meanwhile, Ocasio-Cortez’s favorables are 47-33 in New York, up about 10 points from 2021.

Sen. Dick Durbin won’t run for re-election in 2026. (Getty Images)

A renewed push for older Democrats to pass the torch came when DNC vice chair David Hogg launched a project to recruit and bankroll primary opponents for older Democratic incumbents.

«Today’s party politics has an unwritten rule – if you win a seat, it’s yours for life. No one serious in your party will challenge you. That is a culture that we have to break,» Hogg, 25, wrote on his political website, Leaders We Deserve.

The oldest member of Congress – Sen. Chuck Grassley, R-Iowa, at 91 – is the rare example of a lawmaker who has not been in the retirement discussion due to the «Biden effect» or any other phenomenon.

On the left, the same appeared to be true for Sen. Bernie Sanders, I-Vt., who – though older than Biden – was contrasted with him on an energy and cognitive level throughout the campaign season.

Sanders has signaled he may seek to serve a fourth term in 2030, when he will be 89, according to the Burlington Free Press. «Friends of Bernie Sanders» has already been listed on a Federal Election Commission filing for the 2030 sweeps.

McConnell, the former Republican leader, has stepped aside from leadership and was replaced by Sen. John Thune, R-S.D., nearly 20 years younger.

Senate Minority Leader Mitch McConnell during a news conference at the U.S. Capitol on Nov. 19, 2024. (Andrew Harnik/Getty Images)

During a 2024 press availability, McConnell appeared to freeze up while speaking, though staffers later suggested he was fine. He has also announced his retirement after 40 years in the Senate.

Rep. Andy Barr, 51, and former Kentucky Attorney General Daniel Cameron, 39, jumped into the fray to succeed the octogenarian Republican.

Of the oldest sitting senators not yet mentioned, Sen. James Risch, R-Idaho, will be 82 by his 2026 potential re-election bid. Fox News Digital reached out for comment from the Gem State senator.

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On the flip side, even some of the youngest Senate Democrats are seeing their re-election prospects heavily challenged.

Sen. Jon Ossoff, D-Ga., is facing potential Republican challengers in what is now a swing state. 

While none have declared their candidacy, Rep. Marjorie Taylor Greene – who would have the stated backing of President Donald Trump – as well as Rep. Earl «Buddy» Carter and Gov. Brian Kemp are all said to be formidable potential rivals, according to several reports.

Fox News Digital reached out to a representative for Biden for comment on the moniker «the Biden effect.»

Fox News’ Paul Steinhauser and Chad Pergram contributed to this report.