close video A ‘somber mood’ in Davos over recession fears: R ‘Ray’ Wang

F/m Investments Chief Investment Officer Alex Morris and Constellation Research CEO R ‘Ray’ Wang discuss concerns about a global recession, a jump in consumer sentiment in January, and preview the financial markets ahead of earnings.

Twitter head Elon Musk on Wednesday ripped the World Economic Forum as an "unelected world government." 

The tweet came in response to a clip, showing WEF’s founder and chairman Klaus Schwab discussing how the WEF’s new "Global Collaboration Village" in the Metaverse can be trusted at a time when worldwide trust in political institutions is at an all-time low. 

Schwab it could be trusted because Interpol, an international organization that coordinates police response to crime, is involved in the project. 

To this, Musk replied: "WEF is increasingly becoming an unelected world government that the people never asked for and don’t want."

ELON MUSK HASN'T BEEN INVITED TO WORLD ECONOMIC FORUM IN YEARS, ORGANIZERS CLAIM

The annual event in the Swiss ski resort town of Davos, draws heads of state, business executives, cultural trendsetters and representatives from international organizations to the luxe mountain town. 

An illuminated logo during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2023. (Photographer: Stefan Wermuth/Bloomberg via Getty Images / Getty Images)

Though it's always unclear how much concrete action will emerge, the meeting is slated to take on pressing global issues from climate change and economic uncertainty to geopolitical instability and public health.

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Hundreds of public sessions are planned, but the four-day conference is also known for secretive backroom meetings and deal-making by business leaders. 

The Associated Press contributed to this report.