Forbes

Forbes Building on Fifth Avenue in New York City, the former headquarters of Forbes in Manhattan (now owned by New York University)

Forbes Media headquarters at 499 Washington Blvd, Jersey City since 2014

B. C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street,[12] founded Forbes magazine on September 15, 1917.[13][14] Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings.[12] Drey became vice-president of the B.C. Forbes Publishing Company,[15] while B.C. Forbes became editor-in-chief, a post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Forbes (1917–1990).

Bruce Forbes took over after his father's death, and his strengths lay in streamlining operations and developing marketing.[13] During his tenure, 1954–1964, the magazine's circulation nearly doubled.[13]

On Bruce's death, his brother Malcolm Forbes became president and chief executive officer of Forbes, and editor-in-chief of Forbes magazine.[16] Between 1961 and 1999 the magazine was edited by James Michaels.[17] In 1993, under Michaels, Forbes was a finalist for the National Magazine Award.[18] In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now a part.[16][19] A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $300 million, setting the value of the enterprise at $750 million." Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now."[20] It was later revealed that the price had been US$264 million.[21]

Apart from Forbes and its lifestyle supplement, Forbes Life, other titles include Forbes Asia and 45 local language editions,[34] including:

Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From the 2009 Times report: "Steve Forbes recently returned from opening up a Forbes magazine in India, bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman, a quarterly magazine published by Steve Forbes's daughter, Moira Forbes, with a companion Web site.[20]

The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007.[35]

The company also formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007.[36] Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008.[37]

Forbes has published the Forbes Travel Guide since 2009.

In 2013, Forbes licensed its brand to Ashford University, and assisted them to launch the Forbes School of Business & Technology.[38] Forbes Media CEO Mike Federle justified the licensing in 2018, stating that "Our licensing business is almost a pure-profit business, because it's an annual annuity."[39] Forbes would launch limited promotions for the school in limited issues. Forbes would never formally endorse the school.

On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within the app.[40]

Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics. Together these sites reach more than 27 million unique visitors each month. Forbes.com employs the slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site.[41] The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $70 million to $80 million a year in revenue, [it] never yielded the hoped-for public offering".[20]

As of 2019 the company published 100 articles each day produced by 3,000 outside contributors who were paid little or nothing.[42] This business model, in place since 2010,[43] "changed their reputation from being a respectable business publication to a content farm," according to Damon Kiesow, the Knight Chair in digital editing and producing at the University of Missouri School of Journalism.[42] Similarly, Harvard University's Nieman Lab deemed Forbes "a platform for scams, grift, and bad journalism" as of 2022.[44]

Forbes.com uses a "contributor model" in which a wide network of "contributors" writes and publishes articles directly on the website.[45] Contributors are paid based on traffic to their respective Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$100,000, according to the company.[45] The contributor system has been criticized for enabling "pay-to-play journalism" and the repackaging of public relations material as news.[44] Forbes currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue.[46] Forbes.com also publishes subscription investment newsletters, and an online guide to web sites, Best of the Web. In July 2018 Forbes deleted an article by a contributor who argued that libraries should be closed, and Amazon should open bookstores in their place.[47]

David Churbuck founded Forbes's web site in 1996. The site uncovered Stephen Glass's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism. At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010, it exposed the California "runaway Prius" as a hoax, as well as running five other articles by Michael Fumento challenging the entire media premise of Toyota's cars gone bad. The site, like the magazine, publishes many lists focusing on billionaires and their possessions, especially expensive homes, a critical aspect of the website's popularity.[48]

Currently, the website also blocks internet users using ad blocking software from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access is granted.[49] Forbes argues that this is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from Forbes site.[50]

Forbes won the 2020 Webby People's Voice Award for Business Blog/Website.[51]

In November 2019, Forbes launched its streaming platform Forbes8, an on-demand video network debuting a slate of original content aimed at entrepreneurs.[52] The network currently features thousands of videos and according to Forbes is "a Netflix for entrepreneurs".[53] In 2020, the network announced the release of several documentary series including Forbes Rap Mentors, Driven Against the Odds, Indie Nation and Titans on the Rocks.[54]

Launched as an invite-only platform, Forbes Business Council is open to SMEs and MSMEs across the globe. There is a fee to join the Councils. The platform helps entrepreneurs and founders connect with like-minded people, collaborate, as well as publish posts on Forbes.com.[55]

• Forbes 30 Under 30
• Forbes 400
• Forbes 500
• Forbes Global 2000
• The World's Billionaires
• World's 100 Most Powerful Women
• World's Most Powerful People

• Merid, Fevin (2023) "Big Business: The disarray and discontent at Forbes" Columbia Journalism Review
• Benton, Joshua (2022) "An incomplete history of Forbes.com as a platform for scams, grift, and bad journalism" NiemanLabs

• Forbes, Malcolm S. (1973). Fact and Comment. Knopf, New York, ISBN 0-394-49187-4; twenty-five years of the editor's columns from Forbes
• Grunwald, Edgar A. (1988). The Business Press Editor. New York University Press, New York, ISBN 0-8147-3016-7
• Holliday, Karen Kahler (1987). A Content Analysis of Business Week, Forbes and Fortune from 1966 to 1986. Master's of Journalism thesis from Louisiana State University, Baton Rouge, 69 pages, OCLC 18772376, available on microfilm
• Kohlmeier, Louis M.; Udell, Jon G. and Anderson, Laird B. (eds.) (1981). Reporting on Business and the Economy. Prentice-Hall, Englewood Cliffs, New Jersey, ISBN 0-13-773879-X
• Kurtz, Howard (2000). The Fortune Tellers: Inside Wall Street's Game of Money, Media, and Manipulation. Free Press, New York, ISBN 0-684-86879-2
• Pinkerson, Stewart (2011). The Fall of the House of Forbes: The Inside Story of the Collapse of a Media Empire. New York City: St. Martin's Press. ISBN 978-0312658595.
• Tebbel, John William and Zuckerman, Mary Ellen (1991). The Magazine in America, 1741–1990. Oxford University Press, New York, ISBN 0-19-505127-0
• Parsons, D. W. (1989). The Power of the Financial Press: Journalism and Economic Opinion in Britain and America. Rutgers University Press, New Jersey, ISBN 0-8135-1497-5

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• Official website