What is Forbes
Forbes is an American media and publishing company headed by former Republican candidate Steve Forbes.
BREAKING DOWN Forbes
Forbes provides daily news coverage on business, technology, financial markets, personal finance, sports and a wide array of other topics. Forbes is also widely known for its lists of the world's richest people, the world's leading companies and the richest celebrities, among others. Forbes was founded in 1917. Perhaps best known for Forbes Magazine, the financial media giant holds ownership positions in Realclearmarkets.com, Realclearsports.com and Realclearpolitics.com.
Forbes provides a variety of branded content including The World’s Billionaires Real Time Ranking. In June 2018, the list was headed by Amazon’s Jeff Bezos, listed at $112 billion of net worth, followed by Microsoft’s Bill Gates at #2, with a net worth of $90 billion, Berkshire Hathaway’s Warren Buffett at #3, with a net worth of $84 billion, LVMH Moët Hennessy Louis Vuitton SE’s Bernard Arnault at #4, with a net worth of $72 billion, and Facebook’s Mark Zuckerberg at #5, with a net worth of $71 billion.
The Forbes Family
Forbes is no longer a family-run publication, but was for most of its history. The magazine was founded in the early 20th century by B.C. Forbes, published later by his son Malcolm Forbes, and is currently headed by Steve Forbes, Editor-in-Chief.
B.C. Forbes was a Scottish immigrant who moved to New York near the turn of the century. After serving as a syndicated columnist, Forbes founded Forbes magazine in 1917 and served as editor-in-chief until his death. His son Malcolm Forbes took over the publishing company in the 1950s after both his father and brother died, and after an unsuccessful run for Governor of New Jersey.
Malcolm Stevenson Forbes, Jr., better known as Steve Forbes, currently serves as editor-in-chief of Forbes. Steve Forbes followed in his father’s footsteps, leveraging his wealth and influential family name to forge a political career. Early on he became involved in state-level campaigns in his home state, New Jersey. Later, he ran unsuccessful Presidential campaigns on the Republican ticket in the 1996 and 2000 primaries. Forbes is still active in politics, and has either campaigned, served as an advisor, or offered an endorsement for Republican candidates at both the congressional and Presidential level. These politicians include Ron Paul ( Texas 14th congressional district election, 1996), Rudy Giuliani (Presidential primary, 2008), and John McCain (Presidential election, 2008). Forbes identifies as a political conservative and supports fiscally conservative platforms such as a flat tax plan and socially conservative platforms such as opposition to gun-control laws.