Forbes

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For other uses, see Forbes (disambiguation). Forbes_sentence_0

Forbes_table_infobox_0

ForbesForbes_table_caption_0
Editor-in-chiefForbes_header_cell_0_0_0 Steve ForbesForbes_cell_0_0_1
EditorForbes_header_cell_0_1_0 Randall LaneForbes_cell_0_1_1
CategoriesForbes_header_cell_0_2_0 Business magazineForbes_cell_0_2_1
FrequencyForbes_header_cell_0_3_0 BiweeklyForbes_cell_0_3_1
Total circulation

(2020)Forbes_header_cell_0_4_0

657,215Forbes_cell_0_4_1
First issueForbes_header_cell_0_5_0 September 15, 1917; 103 years ago (1917-09-15)Forbes_cell_0_5_1
CompanyForbes_header_cell_0_6_0 Integrated Whale Media Investments (95%)
Forbes family (5%)Forbes_cell_0_6_1
CountryForbes_header_cell_0_7_0 United StatesForbes_cell_0_7_1
Based inForbes_header_cell_0_8_0 Jersey City, New Jersey, U.S.Forbes_cell_0_8_1
LanguageForbes_header_cell_0_9_0 EnglishForbes_cell_0_9_1
WebsiteForbes_header_cell_0_10_0 Forbes_cell_0_10_1
ISSNForbes_header_cell_0_11_0 Forbes_cell_0_11_1

Forbes (/fɔːrbz/) is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Forbes_sentence_1

Published eight times a year, it features original articles on finance, industry, investing, and marketing topics. Forbes_sentence_2

Forbes also reports on related subjects such as technology, communications, science, politics, and law. Forbes_sentence_3

Its headquarters is located in Jersey City, New Jersey. Forbes_sentence_4

Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek. Forbes_sentence_5

Forbes has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. Forbes_sentence_6

The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of The World's Most Powerful People, and The World's Billionaires. Forbes_sentence_7

The motto of Forbes magazine is "Change the World". Forbes_sentence_8

Its chair and editor-in-chief is Steve Forbes, and its CEO is Mike Federle. Forbes_sentence_9

In 2014, it was sold to a Hong Kong–based investment group, Integrated Whale Media Investments. Forbes_sentence_10

Company history Forbes_section_0

B. Forbes_sentence_11 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_sentence_12

Forbes provided the money and the name and Drey provided the publishing expertise. Forbes_sentence_13

The original name of the magazine was Forbes: Devoted to Doers and Doings. Forbes_sentence_14

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. Forbes_sentence_15

B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Forbes (1917–1990). Forbes_sentence_16

Bruce Forbes took over on his father's death, and his strengths lay in streamlining operations and developing marketing. Forbes_sentence_17

During his tenure, 1954–1964, the magazine's circulation nearly doubled. Forbes_sentence_18

On Bruce's death, his brother Malcolm Forbes became president and chief executive of Forbes and editor-in-chief of Forbes magazine. Forbes_sentence_19

Between 1961 and 1999 the magazine was edited by James Michaels. Forbes_sentence_20

In 1993, under Michaels, Forbes was a finalist for the National Magazine Award. Forbes_sentence_21

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. Forbes_sentence_22

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." Forbes_sentence_23

Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now." Forbes_sentence_24

It was later revealed that the price had been US$264 million. Forbes_sentence_25

Sale of headquarters Forbes_section_1

In January 2010, Forbes reached an agreement to sell its headquarters building on Fifth Avenue in Manhattan to New York University; terms of the deal were not publicly reported, but Forbes was to continue to occupy the space under a five-year sale-leaseback arrangement. Forbes_sentence_26

The company's headquarters moved to the Newport section of downtown Jersey City, New Jersey, in 2014. Forbes_sentence_27

Sale to Integrated Whale Media (51% stake) Forbes_section_2

In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale. Forbes_sentence_28

This was encouraged by minority shareholders Elevation Partners. Forbes_sentence_29

Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 EBITDA was US$15 million. Forbes_sentence_30

Forbes reportedly sought a price of US$400 million. Forbes_sentence_31

In July 2014, the Forbes family bought out Elevation and then Hong Kong-based investment group Integrated Whale Media Investments purchased a 51 percent majority of the company. Forbes_sentence_32

Isaac Stone Fish wrote in the Washington Post, "Since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence." Forbes_sentence_33

Other publications Forbes_section_3

Apart from Forbes and its lifestyle supplement, Forbes Life, other titles include Forbes Asia and 27 local language editions. Forbes_sentence_34

Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio. Forbes_sentence_35

Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. Forbes_sentence_36

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." Forbes_sentence_37

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. Forbes_sentence_38

The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007. Forbes_sentence_39

The company also formerly published American Heritage and Invention & Technology magazines. Forbes_sentence_40

After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Forbes_sentence_41

Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes_sentence_42

Forbes has published the Forbes Travel Guide since 2009. Forbes_sentence_43

In 2013, Forbes licensed its brand to Ashford University, and assisted them launch the Forbes School of Business & Technology. Forbes_sentence_44

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." Forbes_sentence_45

Forbes would launch limited promotions for the school in limited issues. Forbes_sentence_46

Forbes would never formally endorse the school. Forbes_sentence_47

On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Forbes_sentence_48

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. Forbes_sentence_49

Forbes.com Forbes_section_4

Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes_sentence_50

Forbes's holdings include a portion of RealClearPolitics. Forbes_sentence_51

Together these sites reach more than 27 million unique visitors each month. Forbes_sentence_52

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. Forbes_sentence_53

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". Forbes_sentence_54

Forbes.com uses a "contributor model" in which a wide network of "contributors" writes and publishes articles directly on the website. Forbes_sentence_55

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. Forbes_sentence_56

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. Forbes_sentence_57

Forbes.com also publishes subscription investment newsletters, and an online guide to web sites, Best of the Web. Forbes_sentence_58

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. Forbes_sentence_59

David Churbuck founded Forbes's web site in 1996. Forbes_sentence_60

The site uncovered Stephen Glass's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism. Forbes_sentence_61

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. Forbes_sentence_62

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. Forbes_sentence_63

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. Forbes_sentence_64

Forbes argues that this is done because customers using ad blocking software do not contribute to the site's revenue. Forbes_sentence_65

Malware attacks have been noted to occur from Forbes site. Forbes_sentence_66

Forbes won the 2020 Webby People's Voice Award for Business Blog/Website. Forbes_sentence_67

Forbes8 Forbes_section_5

In November 2019, Forbes launched its streaming platform Forbes8, an on-demand video network debuting a slate of original content aimed at entrepreneurs. Forbes_sentence_68

The network currently features thousands of videos and according to Forbes is, "a Netflix for entrepreneurs." Forbes_sentence_69

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. Forbes_sentence_70

See also Forbes_section_6

Forbes_unordered_list_0


Credits to the contents of this page go to the authors of the corresponding Wikipedia page: en.wikipedia.org/wiki/Forbes.