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Klaus Schwab stepped down from his role at the World Economic Forum in April 2025.
Updated April 22 2025, 10:51 a.m. ET
On the day Pope Francis died, on April 21, 2025, Klaus Schwab, the founder of the World Economic Forum (WEF), stepped down from his leadership role. Whether the two events are linked or not, the move thrust Schwab into the spotlight in a way he hadn't been during his decades-long career. It also left many wondering what Klaus Schwab's net worth is.
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While Schwab did not reveal why he made the decision to step down as chairman of the WEF, he did release a statement about it, according to Reuters.
"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," he said, according to the outlet.
Following his exit, what is Schwab's net worth, and how has he amassed his wealth? Read on to find out!
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What is Klaus Schwab's net worth?
Although Schwab's net worth isn't immediately known to the public, there are estimates about how much the German business tycoon is worth. According to Metro in the U.K., Schwab's estimated net worth is around £18,000,000, or $24,062,080.14 in U.S. dollars. While that doesn't place Schwab in the top 10 or even the top 100 richest people in the world, according to Forbes, it does mean he has earned a lot of money in his life.
Klaus Schwab
Businessman
Net worth: $24 million
Klaus Schwab is known for founding the World Economic Forum in 1971. He is also an honorary professor at the University of Geneva, where he taught business policy for more than 30 years.
Birthdate: March 30, 1938
Birthplace: Ravensburg, Baden-Württemberg, Germany
Education: ETH Zürich, University of Fribourg, Harvard University
Marriages: Hilde Schwab (m. 1971)
Children: Oliver Schwab and Nicole Schwab
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Schwab founded the WEF in 1971, though it was originally called the European Management Forum. He also taught business policy at the University of Geneva for more than 30 years. Schwab and his wife, Hilde Schwab, started the Schwab Foundation for Social Entrepreneurship in 1998. According to its website, the organization is dedicated to using social innovation to improve the world.
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The website explains, "Through this unique connection, the Foundation serves as a bridge between social entrepreneurs, innovators, and the global stage. By encouraging collaboration with government leaders, businesses, and civil society organisations, it amplifies the voices and impact of social entrepreneurs."
Klaus Schwab talks about who could replace him when he dies to run The World Economic Forum. His daughter and son, Nicole and Oliver Schwab, both hold high positions in the World Economic Forum and are likely candidates. pic.twitter.com/VC67AvMVT8
— FreeThinkerFitness (@FreeThinkerFit) April 15, 2024
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Klaus Schwab has two kids.
Schwab started the Schwab Foundation for Social Entrepreneurship with his wife, Hilde, who he married in 1971 at the start of what would be a long career in business and entrepreneurship. Together, they had two kids, Oliver and Nicole Schwab. Nicole followed in her parents' footsteps by co-founding EDGE Certified Foundation, an organization that ensures gender equality in the workplace.
Oliver joined the family business, so to speak. According to LinkedIn, he is the head of technology at the WEF, a position he has held since 2020. Before that, he was the head of business engagement. He joined the company in 2010.
