Inside The Klaus Schwab Davos Cash machine, the World Economic Forum, a Swiss non-profit, grapples with currency hoarding, managing substantial revenue and cash reserves, and acquiring high-value real estate, sparking awe and ire in the events industry.
Let's take a moment to recognize the extraordinarily prosperous media company that is the World Economic Forum before we get into what is going on there.
The largest financial issue facing the WEF now is currency hoarding. For a Swiss non-profit, in fact, to be sitting on a Scrooge-McDuck pile of Swiss francs that employers are paying to send delegates has become a little humiliating. According to a spokesperson, business partnerships start at CHF 15,000 ($17,600) and go up to CHF 600,000 ($705,000) for annual subscriptions that, as of 2017, include the option to spend an additional tens of thousands on tickets.
Thus, the Forum has been covertly acquiring some of the priciest real estate in the world; in this instance, it ...
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