The World Economic Forum (WEF) has been synonymous with conspiracy theories over the last few years so here are some facts to allow you to form your own opinion.
The WEF was founded by Professor Klaus Schwab in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. Originally, Schwab focused the meetings on how European firms could catch up with United States management practices.
Today, the Mission Statement of the World Economic Forum is to: “engage business, political, academic and other leaders of society to shape global, regional and industry agendas.”
In July 2020, Schwab released a book titled “COVID 19: The Great Reset” in which he said the following, “to achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a “Great Reset” of capitalism.”
Schwab has long been an advocate for “Stakeholder Capitalism,” a system in which corporations are oriented to serve the interests of all their stakeholders, the key stakeholders being customers, suppliers, employees, shareholders, and local communities.
The Fourth Industrial Revolution is another concept Schwab has promoted and written a book about which describes the convergence of digital, biological, and physical innovations. It encompasses advancements like artificial intelligence, robotics, the Internet of Things, autonomous vehicles, predictive healthcare, and digital Identities.
You might be wondering how the WEF generates money. The majority of WEF funding is provided by the world’s most significant business entities, who join the Forum as members and partners in order to participate. Roughly 1,000 corporations hold membership in WEF, including Apple, Google, Microsoft, Amazon, and many others. Low level members pay $60,00 annually while its top category of corporate membership pays $595,000 annually.
Money is not everything if you’re trying to influence the world, you also need power. That’s why the WEF has what it calls a Young Global Leaders Program. Launched in 2004, it’s a program that “seeks to identify and nurture the next generation of leaders.” Notable participants include Canadian Prime Minister Justin Trudeau, California Governor Gavin Newsom, Russian President Vladimir Putin, Former Chancellor of Germany Angela Merkel, U.S. Secretary of Transportation Pete Buttigieg, French President Emmanuel Macron, and many more.
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