Masks bearing the likenesses of Tesla CEO Elon Musk, US Vice President JD Vance, and Rheinmetall CEO Armin Papperger during a protest against the World Economic Forum in Davos, Switzerland, on January 18, 2026. FABRICE COFFRINI / AFP

They have arrived. They are all here. As every year, during the third week of January, leaders of the world's biggest companies are gathering in the Swiss canton of Grisons at the invitation of the World Economic Forum (WEF), bringing together 3,000 participants from 130 countries from January 19 to 23. But the highlight this year is the in-person arrival, on Wednesday, of a Donald Trump in the mood for conquering, accompanied by a historic delegation of lawmakers, governors, business leaders and American academics. His presence promises to dominate the debates.

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At Davos, global decision-makers anxiously await 'Trumponomics'

Davos is also expecting prominent religious leaders, NGOs, union representatives, musicians and even a queen (Mathilde of Belgium), in keeping with the event's eclectic spirit. Still, what stands out about this 56th edition is the "record numbers of world leaders," as promised by Borge Brende, the WEF president: Sixty-four heads of state or government are registered, including Argentina's Javier Milei, France's Emmanuel Macron, and Egypt's President Abdel Fattah el-Sissi. Six G7 leaders will be in attendance. The president of the European Commission, Ursula von der Leyen, will open the debates on Tuesday, January 20, followed by China's Vice Premier He Lifeng – but, unsurprisingly, the star turn remains American.