'The Davos Underground': A Comprehensive Look at the Exclusive Parties of the World's Elite

• The Davos underground, known for its secretive, exclusive, and off-the-record events, remains a defining aspect of the experience despite efforts to stamp it out.
• The opulence and debauchery of the Anthony Scaramucci-hosted wine tasting and tech company-funded Sting concert have been replaced by a sense of loss among some WEF attendees, who say that the Russian oligarchs have been banned again and that "Davos isn't really Davos anymore."

The ancillary programming hosted beyond the Congress Center has been the lifeblood of the World Economic Forum in Davos, Switzerland for as long as countries and companies have rented out chalets and storefronts on the Promenade.

The Davos underground has flourished due to the increasing commercialization of the town's high street. These clandestine, elite, and often unreported gatherings are where a significant portion of the negotiation, indulgence, and extravagance continue to take place.

The 54th edition of the forum revealed what leaders in business and politics truly felt when they spoke candidly.

No more Russian oligarchs at Davos

The Russian delegation's ban from the remote Alpine resort town has led to a decrease in opulence and debauchery at the World Economic Forum, according to multiple long-time attendees.

In previous years, wealthy tycoons funded numerous extravagant and notorious events that took place during the annual conference of the world's elite. These events were known for their opulence, with guests being served caviar by models dressed in elaborate costumes. Additionally, prominent figures in business and politics would gather and engage in discussions without any restraint.

Since the Russians are no longer present at Davos, the event is no longer the same, according to a forum attendee who has been attending since 2018.

In the early days of the forum, Russian business leaders gained a global reputation after being invited to the convention. However, since the start of President Putin's war on Ukraine, the invitation moratorium has been extended to everyone from the Russian Direct Investment Fund (RDIF) to Moscow-born business moguls and Putin confidantes.

The Hungarian-born billionaire George Soros still hosts ultra-exclusive dinners, while anti-Putin activist Bill Browder of Hermitage Capital convened guests on the first night of the forum at Ochsen Steakhouse, which features a menu of exotic game including zebra, ostrich, horse, and wild boar.

The Illuminati's Eye of Providence appeared on the promenade as people dressed as monks from Moonshot Investor Network handed out Renaissance-style scrolls to a select few. When unfurled, the document contained a secret invitation that read "YOU HAVE BEEN CHOSEN" with a corresponding QR code beneath. One person who followed the rabbit hole further tells CNBC that the QR code linked to a website that mentioned seances and rituals. Additionally, the person had to solve online puzzles before the party destination and time were revealed.

“It was a great marketing ploy,” this person told CNBC.

Those who regularly attend Davos events believe that the extravagance and wildness of the event have decreased.

The Mooch’s annual wine soirée

The Annual Davos Wine Forum Tasting was held by Anthony “the Mooch” Scaramucci in the Hotel Europe lobby on Tuesday night, resulting in chaotic conditions.

Nearly an hour, guests waited in close proximity for wristbands and entry to the renowned event, where they could sample a variety of rare and expensive wines, including the 2003 Chateau Latour, valued at $995 per bottle.

The delay was due to SkyBridge Capital founder and former White House Communications Director to President Donald Trump for ten days in 2017 arriving late to his own party and encountering difficulties in passing the security detail hired to protect it.

General Milley was among the crowd of individuals being pushed around by rule-breakers seeking to reach the bottom of the stairs.

The wine tasting event in Davos attracts many prominent individuals, including Matt Damon, Richard Branson, and Andrea Bocelli, as well as U.S. Senator Chris Coons, former Speaker of the House Paul Ryan, and top media personalities this year.

At 11 p.m., the main wine supply ran out, and bartenders switched to serving water. However, as is customary at the annual tasting, wine continued to flow in a hidden room reserved for the elite guests.

A Davos attendee who is frequently invited to the exclusive backroom of the Annual Davos Wine Forum Tasting stated, "That's when you get the good stuff."

Before the supply ran dry, the 2024 full tasting menu included:

• ChampagnePerrier Grand Siecle No 26

• BordeauxSmith Haut Lafitte 2020Chateau Latour 2003L’Eglise-Clinet 2010

• The 2015 BurgundyOlivier Bernstein Bonnes Mares Grand Cru and the 2005 Domaine Comte Georges de Vogue Bonnes-Mares Grand Cru are both excellent wines.

• CaliforniaRidge Monte Bello 2013, Santa Cruz MountainsDominus 2018, Napa Valley

• Brunello di Montalcino Riserva Lucere from Tuscany and Brunello di Montalcino Tenuta Nuova from Casanova di Neri, both from the 2010 vintage.

‘Sledging’ down the mountain

The Schatzalp party hosted by Politico on Thursday evening is a traditional event at Davos and is a must-attend, especially because it includes sledding down a mountain on a toboggan after a night of negronis.

The funicular, a bright blue and yellow ride, swiftly transports passengers up nearly a half mile from Davos-Platz to the 124-year-old Schatzalp Hotel in just four minutes.

A sanatorium from the mid-20th century was retrofitted into an Art Nouveau-style hotel.

The estate, with its grandeur and breathtaking views of the Alps, resembles the hotel in Stephen King's "The Shining."

On the promenade, it was pouring rain, while at Schatzalp, the snow was falling heavily, creating perfect conditions for a sledding adventure.

The sledge run trail was reached by the guest list, consisting of Browder and executives from and AB InBev, as well as top American politicians, who migrated from the porch-wrapped hotel to a torch-lit path.

According to Politico, Second Gentleman Doug Emhoff was interested in sledging but his secret service detail rejected the idea.

A-listers network in the security lines

The Belvedere Hotel's badge processing station experienced a snafu on Monday, resulting in an impromptu night of networking in line.

The hotel has a variety of spaces, including conference rooms and the spa, that are used for events such as breakfast panels, luncheons, and late-night cocktails. Security is tight at the entrance to ensure that only authorized individuals can enter and exit the 5-star hotel.

The queue at the Belvedere on the first night of the conference took an hour and formed along the veranda surrounding the hotel. Despite the snow and cold, the inability to skip the line created a wonderful icebreaker.

Gary Cohn, a former White House economic adviser to Trump and IBM Vice Chair, was among those conversing with his neighbors while waiting in line.

While waiting, CNBC used the extra time to prepare for a dinner roundtable later that night on artificial intelligence.

Doorstepping big names in security lines was a theme throughout the week.

Both Ian Bremmer, a geopolitical expert and Eurasia Group president, and Sir Martin Sorrell, founder and executive chairman of digital marketing firm S4 Capital, were reportedly stuck in line outside the annual Salesforce party where Sting was on stage performing, waiting for space to free up inside. This event can be considered the one time each year that an enterprise software company gets to be the cool kid throwing the hottest party of the night thanks largely to the fact that they always spend the cash to put a big name on stage.

Sting's performance at Microsoft's invite-only event last year, which took place the night before the company announced layoffs of 10,000 people, has been followed by another round of layoffs at Salesforce this year, just days after the musician headlined the company's annual blowout. The tech industry is facing uncertainty, and seeing Sting on stage at Davos could exacerbate the anxiety among tech workers.

Window shopping for CEOs

The Red Light District of Amsterdam's window brothels has an exhibitionist feel, but without any illicit undertones, as seen in the two-mile stretch of the Davos Promenade.

During the weeklong forum, all storefronts were rented out, and companies and countries had a list of A-listers ready to speak in fireside chats and on panels from morning to evening.

Davos was focused on window shopping for CEOs instead of knitwear and ski gear.

Bill Gates held a mic in his right hand while chatting in the front window of the Infosys Lounge. At Bloomberg House, it was all windows, making it easy to catch a glimpse of OpenAI CEO Sam Altman and Salesforce chief Marc Benioff during their fireside chats. Hedge fund legend Ray Dalio was at the Emirates lounge for a fireside chat on the global economy after AI, while Emhoff gave remarks at the Female Quotient Lounge.

Unlike the clandestine gatherings, feasts, and midday meals, this event was solely focused on showcasing these prominent figures.

Promenade parties were far more stealth about their guest lists and speakers.

The Kirchner Museum hosted the annual drinks event, attended by the forum's top brass. Guests received a gift bag with a polar bear-branded booklet detailing the company's 2024 market outlook.

"The party favor is a propaganda book that teaches not to be greedy," said one person leaving the party.

The conference hosted dinners and cocktail receptions every night, including the annual "Nightcap" event co-hosted with the Financial Times in Lounge West at the Belvedere Hotel.

The usual suspects were present, including Bank of America CEO Brian Moynihan, IBM's Gary Cohn, and SandboxAQ CEO Jack Hidary, a company spun off from Google's parent Alphabet in 2022 that utilizes AI and quantum technology to address key challenges in cybersecurity, drug discovery, and other areas.

Some attendees were less likely, such as Britain's intelligence chief, Sir Richard Moore, who leads MI6.

The week's evening festivities culminated at a Davos establishment: Barry's Piano Bar. This bar is named after Barry Colson, the renowned pianist-in-residence at Davos, who travels from Halifax, Canada, to play nightly at the Piano Bar, which is located upstairs at Hotel Europe.

The fashion of the Davos crowd is not fashionable, according to a long-time attendee. However, St. Moritz attracted a similar crowd during New Year's Eve, and the ski and winter clothing was excellent.

According to CNBC, the person stated that Davos is not attempting to be extravagant like Aspen. Instead, it's more similar to Salt Lake City.

The skiing village of Klosters, located 20 minutes away from Davos, attracts those with refined tastes. It is said to be the residence of a baron and baroness, as informed by a Davos regular and avid skier to CNBC.

The Davos fashion scene was dominated by oversized sweaters, heattech innerwear, thermal layers, snow boots with Yaktrax spikes, and cable-knit beanies with pom poms, with a mix of ornate fur-brimmed hats, Moncler, Canada Goose, and Arc’teryx ski attire.

The only thing that people seemed to focus on was the color of your conference badge, which had to be worn at all times during the five-day event, creating a bizarre hierarchy.

The majority of media members wore orange badges that granted them considerable access to various venues. Badges with red and yellow stripes imposed certain limitations, but the highly sought-after white badge provided almost unrestricted access to all events.

CNBC employees received a royal blue badge for quick access to the "Sanctuary," a retrofitted English Church on the promenade where notable figures such as French President Emmanuel Macron and U.S. Climate Envoy John Kerry often spoke on the stage.

Goals House was far — but totally worth the trek

During the week in Davos, the temperature fluctuated between -3 and nearly 40 degrees Fahrenheit, making it easier to walk around the town on some days than others. With Ubers charging $46 for a 5-minute ride a mile down the road and traffic congestion at peak hours, walking was the fastest and most cost-effective way to get around.

Another advantage of attending forum events is the opportunity to burn off calories from the red wine by exercising.

Goals House, founded in Davos in 2019 with the mission of advancing the UN's Sustainable Development Goals, has since expanded its reach and hosts events worldwide.

During the Davos off season, Golf Club Davos is a charming lodge known as Goals House, located on the outskirts of town.

The journey there required walking through snow in the dark as Mattastrasse had no street lights. Additionally, it meant navigating the same narrow lane as oncoming cars since the sidewalks were filled with waist-high banks of powdery snow.

The programming at the conference encompassed a range of activities, from morning workshops to evening discussions with executives from Palantir, Accenture, and SandboxAQ about the latest AI advancements.

CNBC hosted a lunch session upstairs discussing how sustainable agriculture technology can tackle food security and water scarcity problems.

One of the most popular destinations for the biggest parties in Davos was the venue.

Politico hosted its inaugural evening event on Monday, attracting notable attendees such as Wyclef Jean, Diane von Fürstenberg, former U.K. Chancellor of the Exchequer George Osborne, and Sky News's Executive Chairman David Rhodes.

On Wednesday, Sting and Osborne were seen circulating a golden Oscar statuette among the table.

In the coming week, Bank of America and (RED) hosted a nightcap at Goals House, which was named the best party of the week by Politico's Suzanne Lynch in her Davos Awards. The event was a successful blend of political, business, and celebrity royalty, with a relaxed atmosphere. Among the attendees were Princess Beatrice, magician David Blaine, Sting, and General Milley, who had been briefed on the must-attend events of the year.

‘Nail’ bar and other low-key, no-list Après-Ski events

The Congress Center on Friday afternoon saw the rapid dismantling of the entire town by the time the final session ended.

The village was taken apart by workers who descended with ladders and drills. Freight trucks and helicopters airlifted out the cargo, and locals clad in ski gear walked the streets of their home once again.

The low-key, no-list venues in Davos, such as Tijuanabar on Talstrasse, were the highlight of the night last night. The atmosphere was electric with rock 'n' roll music, dancing, and live sports like hockey playing on the TV.

The tradition of taking a nail from a Töggel box and hammering it into a block of wood that resembles a tree trunk is one of the town's "nail" bars. The person who completes the task in the fewest number of strokes is declared the winner.

The Swiss Army, which parachutes in to provide security detail to the World Economic Forum each year, also frequents Tij, one of the few bars cherished by locals.

One of the troops, a drill sergeant specialized in infantry who had been serving in the Army for more than 500 days, was decompressing over lager after a week spent protecting conference goers in town.

Some Davos attendees enjoyed skiing and snowboarding after panels and live broadcasts, and one advantage of finishing the day on the mountain was gliding into bars located on the slopes.

The discussions on the way out of Davos were more relaxed than the chatter on the train ride into Davos.

A Zoom conversation between two therapists and a third person discussed the legality of MDMA couples therapy and ayahuasca ceremonies in Switzerland, as well as the benefits of psychedelic drugs. The objective was to establish a research retreat aimed at the Davos crowd for the upcoming year.

— CNBC’s Alex Sherman contributed to this report.