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World Economic Forum

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Chapter Summary

The World Economic Forum (WEF) is a private international organization whose members include 1,000 of the world's most successful companies. The WEF is unique amongst influential transnational institutions for many reasons, not least because it was founded by a single person, Klaus Schwab who has continued to lead it for almost four decades. The World Economic Forum became a membership organization in 1976, five years after its inception, and initially limited participation to leading private companies based in Europe. The World Economic Forum is governed by the Foundation Board, comprising 22 individuals from business, government, and international organizations. As a non-profit foundation, the World Economic Forum aims to secure just enough funding to pay for its operational costs and for future expansion.

Keywords: Klaus Schwab; membership organization; World Economic Forum (WEF)

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