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Concept
Forbes
Summary
Forbes (fɔrbz) is an American business magazine founded in 1917 and owned by the Hong Kong-based investment group Integrated Whale Media Investments since 2014. Its chairperson and editor-in-chief is Steve Forbes, and its CEO is Mike Federle.
Published eight times a year, it features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include Fortune and Bloomberg Businessweek. Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide.
The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), the 30 most notable young people under the age of 30 (Forbes 30 under 30), America's Wealthiest Celebrities, the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of Forbes magazine is "Change the World". In July 2023, Fortune reported that Austin Russell is attempting to acquire 82 percent of the company. Neither Forbes nor Integrated Whale Media Investments have confirmed the report.
B. C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street, founded Forbes magazine on September 15, 1917. 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. Drey became vice-president of the B.C. Forbes Publishing Company, 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.
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