Who Is Steve Forbes?

Steve Forbes is editor-in-chief of Forbes Media. His net worth is estimated at $430 million. Forbes is a prolific author and has long been active in Republican politics.

He is the son of longtime Forbes magazine publisher Malcolm Forbes and the grandson of a Scottish immigrant named Bertie Charles Forbes, who founded the magazine in 1917. The Forbes website now has 71 million unique monthly visitors and local editions of the magazine are published in 39 countries.

Understanding Steve Forbes

Malcolm Stevenson "Steve" Forbes Jr. was born on July 18, 1947, in Morristown, New Jersey, and grew up in the affluent suburb of Far Hills, New Jersey.

Key Takeaways

  • Steve Forbes has a personal fortune estimated at $430 million.
  • He is the author or co-author of five books on economic policy.
  • He ran unsuccessfully for the Republican presidential nomination in 1996 and 2000.

He attended Princeton University. While there, he and two other undergraduates founded Business Today. The magazine for and by undergraduates survives to this day.

He graduated in 1970 with a bachelor’s degree in American history. In 2009, he was awarded an honorary doctorate in economics from Stevenson University.

He and his wife, Sabrina Beekman, have five children.

Forbes has often been seen as living in the shadow of his flamboyant father, who died in 1990, but the son seems to have made his peace with that idea. "You know, great athletes, they retire the number," he told The New York Times for a 1996 profile. "With my father, I figure they retired the shoes. Don't try to fill them. Get your own shoes."

Forbes as Author

Forbes is the author or co-author of a number of books on economics and politics including, most recently, Reviving America: How Repealing Obamacare, Replacing the Tax Code and Reforming the Fed Will Restore Hope and Prosperity, with co-author Elizabeth Ames.

Forbes is a prominent advocate of a flat tax.

Forbes and Ames also co-authored Money: How the Destruction of the Dollar Threatens the Global Economy and What We Can Do About It; Freedom Manifesto: Why Free Markets Are Moral and Big Government Isn't, and How Capitalism Will Save Us: Why Free People and Free Markets are the Best Answer in Today's Economy.

Forbes is the sole author of Flat Tax Revolution: Using a Postcard to Abolish the IRS.

He writes an editorial for Forbes and hosts a podcast, "What's Ahead," focusing on issues of political and economic interest. He frequently appears on the cable television program Forbes on Fox.

Forbes in Politics

In 1996 and 2000, Forbes was an unsuccessful Republican candidate for U.S. president. As a candidate, he was a strong proponent of a flat tax rate. He also advocated medical savings accounts, partial privatization of Social Security, parental school choices, term limits, and a strong national defense.

He has remained politically active, endorsing candidates for office including Sen. Marco Rubio, Sen. Rand Paul, and the late Sen. John McCain. Forbes has served on the board of several conservative organizations including FreedomWorks, the National Taxpayers' Union, and the Heritage Foundation.