The World Economic Forum (WEF), founded by German engineer and economist Klaus Schwab in 1971, is held in Davos, Switzerland — the highest town in Europe at 5,100 feet. Nestled in the Alps, Davos was chosen for its amazing setting and modern conference center.
The forum brings together CEOs, leaders, and businesses to discuss global issues and promote "stakeholder capitalism" — an idea that businesses should serve employees, customers, and the public. With an emphasis on serving all, the WEF is predicated on catering to stakeholders and not just shareholders.
However, the forum faces criticism for being too exclusive, as fees for the attending the forum range from tens to hundreds of thousands of dollars. It's also seen as a hub for elite influence and corporate dealmaking.
This post was written by Josh Lynch