World Economic Forum anoints BlackRock CEO after investigation into Klaus Schwab goes nowhere

German economist Klaus Schwab founded the World Economic Forum in 1971 with the aim of engaging "the foremost political, business, and other leaders of society to shape global, regional, and industry agenda."

During his tenure, the WEF founder made no secret of his desire to radically reshape the world, pushing for a "Great Reset" of capitalism, pressuring businesses to commit to eliminating carbon emissions, grooming a network of future politicians, and characterizing "misinformation and disinformation" as two of the greatest threats facing humanity.

'You have to force behaviors. At BlackRock we are forcing behaviors.'

Under Schwab's leadership, the WEF also informed the masses in 2018, "You'll own nothing. And you'll be happy."

After five decades in the role, Klaus Schwab announced on April 1 that he was stepping down as chairman.

The WEF originally indicated that Schwab would complete his departure by January 2027; however, he stepped down on April 21 after his organization launched an investigation into allegations that he engaged in financial and ethical misconduct.

The forum announced on Friday that the investigation found "no evidence of material wrongdoing by Klaus Schwab" as well as who would replace him: Larry Fink, CEO of BlackRock, and André Hoffmann, vice chairman of the Swiss drug company Roche. The billionaire duo will serve as co-chairs.

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Brian Kaiser/Bloomberg via Getty Images

"This moment marks a pivotal transition for the World Economic Forum. The board will now focus its attention on institutionalizing the Forum as a resilient International Organization for Public-Private Cooperation," the forum said in a statement. "This next chapter will be guided by the original mission developed by Klaus Schwab: Bringing together government, business, and civil society to improve the state of the world."

Schwab's mission might be easier to accomplish with Fink at the helm, given that he also runs the world's largest asset manager, which reported $11.58 trillion in assets under management in the first quarter of this year and has offices in 30 countries.

Fink, like his predecessor, was an early champion of handcuffing investing to liberal environmental, social, and governance agendas and has evidenced a willingness to socially engineer human behavior.

'What's emerging now is globalization's second draft.'

When discussing the imagined importance of diversity, equity, and inclusion in a 2017 interview, Fink said that "behaviors are going to have to change. This is one thing we’re asking companies. You have to force behaviors. At BlackRock we are forcing behaviors."

Years later, Fink vowed in a letter to shareholders to "embed DEI into everything we do."

While BlackRock dropped its DEI goals earlier this year, citing "significant changes to the U.S. legal and policy environment related to Diversity, Equity, and Inclusion (DEI) that apply to many companies," the WEF could afford Fink another vehicle to push the divisive agenda abroad.

Fink also apparently shares Schwab's globalist outlook.

Fink noted in a recent op-ed in the Financial Times that "globalization is now coming apart," thanks in part to the Trump administration's "backlash to the era of what might be called 'globalism without guardrails.'" The BlackRock CEO, evidently not a fan of nationalism, expressed cautious optimism that "what's emerging now is globalization's second draft."

Fink suggested in a joint statement with Hoffmann that the need for the forum is greater than ever and that it "can serve as a unique catalyst for cooperation, one that fosters trust, identifies shared goals, and turns dialogue into action."

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