The forum received an anonymous whistleblower letter last week alleging that Schwab and his wife had misused the organisation's funds for personal massages and luxury travel. This follows a similar letter last year that alleged toxic workplace culture at the forum and led to a board-sponsored probe.

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.