Klaus Schwab

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Klaus Schwab is a German economist and engineer, best known as the founder and executive chairman of the World Economic Forum (WEF), an international organization established in 1971. Schwab was born on March 30, 1938, in Ravensburg, Germany. He studied engineering at the Swiss Federal Institute of Technology in Zurich (ETH Zurich) and earned a PhD in engineering. Later, he pursued economics at the University of Fribourg and obtained a Master of Public Administration degree from Harvard University’s John F. Kennedy School of Government.

In 1971, Schwab founded the European Management Forum, which was later renamed the World Economic Forum in 1987. The organization is best known for its annual meeting in Davos, Switzerland, which brings together global leaders from politics, business, academia, and civil society to discuss pressing issues facing the world. Under Schwab’s leadership, the WEF has expanded its reach, promoting public-private cooperation and tackling topics such as globalization, climate change, and technological advancements.

Schwab has authored several books, including The Fourth Industrial Revolution, which explores how emerging technologies such as artificial intelligence, robotics, and biotechnology are reshaping industries, economies, and societies. His work in advancing the concept of stakeholder capitalism, which encourages companies to prioritize the interests of all stakeholders—employees, customers, and society at large—over just shareholders, has gained global recognition.

Throughout his career, Schwab has received numerous honors, including international awards for his contributions to global economic thought and leadership. He also founded the Schwab Foundation for Social Entrepreneurship in 1998, which supports initiatives that aim to drive social change through innovative business solutions.

Schwab’s influence extends through his advocacy of the Great Reset, a global initiative launched in 2020 that seeks to rethink and rebuild economies in the wake of the COVID-19 pandemic, focusing on sustainable development and equitable recovery.