1. In 2004, Klaus Schwab created a new foundation using the US$1 million prize money from the Dan David Prize he received that year from Israel.
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2. In 1971, Klaus Schwab founded the European Management Forum, which in 1987 became the World Economic Forum, as a not-for-profit foundation committed to improving the state of the world.
|FactSnippet No. 118,088 - en.wikipedia.org|