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IPFS News Link • World Economic Forum

Klaus Schwab, Jamie Dimon and the Chairman of the FDIC Announce They Are Stepping Down

• John WIlliams, Times Now and Business Insider

Schwab's children have been appointed to high-ranking positions and his wife Hilde heads the organization's foundation and awards ceremonies in Davos.

Jamie Dimon, the 68-year old CEO of JPMorgan said that the search is on for his successor and that he will step down in less than 5 years. Martin Gruenberg, the 71-year old chairman of the FDIC, has resigned over accusations of a toxic environment due to misogyny and sexual harassment in the FDIC workplace that employs 6,000 people. The FDIC has bigger problems: we previously reported that it holds a mere $121.8 billion in reserves to cover over $17 trillion in deposits [$10 trillion of that amount is held in deposits with a total less than $250,000]. In addition, 1.170 CEOs stepped down in 2023. 

John WIlliams makes some startling predictions about massive disruption, banking and digital currency.

Klaus Schwab, the founder and executive chairman of the World Economic Forum (WEF) announced his decision to step down from the position. The 86-year-old business leader is going to transition his role as non-executive chairman basis an agreement to be reached with the Swiss government. The German mechanical engineer and economist informed about his decision through an email written to the organisation's staff members on Tuesday, as per a report by an international news website.

The governance structure at the WEF is about to drastically change, as per the forum's spokesperson who told Semaforabout "transforming from a convening platform to the leading global institution for public-private cooperation." With Schwab's exit from an active role nearly five decades after the organisation was founded, speculations started spiraling as to who would fill the founder's shoes. Schwab stitched together the global economic alliance in 1971, and since then accumulated remarkable personal growth and wealth as well. The article intends to navigate through the public information based on reliable sources to garner information about his net worth in 2024.