The World Economic Forum is best known for its annual meeting, held each January in Davos, Switzerland, where political leaders, CEOs, and other prominent figures gather to discuss global challenges and opportunities. Founded in 1971 by German economist Klaus Schwab, the forum’s gathering—known colloquially as “Davos”—has grown into a central convening space for elite cross-sector dialogue, combining public sessions with private meetings that often influence policy, business strategy, and diplomacy behind the scenes.
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During the annual World Economic Forum in Davos, the city effectively turns into a fortress, guarded by thousands of Swiss army, police, and civil security personnel, with restricted airspace, drone surveillance, snipers, checkpoints, and round-the-clock patrols protecting global leaders.
In 2020, these principles were updated for the first time in more than 40 years to include “stakeholder capitalism,” the idea that a company’s purpose is “to engage all its stakeholders in shared and sustained value creation.”
Thomas Mann’s 1924 novel “The Magic Mountain” is set in a Davos sanatorium, using the alpine resort as a symbolic backdrop for exploring time, illness, modernity, and European intellectual life on the eve of World War I.
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The United States is home to more than 33 million businesses, the vast majority of which are small businesses, with millions being created (and others closing shop) every year. These businesses often rely on loans, provide the goods and services that keep the economy flowing, and sometimes even grow large enough to enter public markets or provide private investment opportunities. Explore key topics central to business and finance, from the role of the Federal Reserve to how initial public offerings work, how millions of American students finance higher education, and more.