The founder quit after the board moved to investigate whistleblower allegations, which he denies, including use of luxury property and travel.

Not being one of the richest men in the world and without holding an elected position, the organizer of the Davos Forum has shaped the global agenda of countries and companies since its family foundation where his wife and children work.

The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman.