Forbes is a famous American bi-weekly business magazine that covers articles on the industry, marketing, and investing. It also reports about science, politics, technology, communications, and law. The headquarters of Forbes is in Jersey City. This magazine has international editions in Europe and Asia.
This magazine is famous for rankings and lists including richest people, wealthiest celebrities, 30 under 30 listings, world’s billionaires. The major motto of this magazine is to change the world. The CEO of Forbes is Mike Federle. In the year 2014, Forbes was bought by INTEGRATED WHALE MEDIA INVESTMENTS, which is a Hong Kong-based company.
Forbes.com is also part of FORBES DIGITAL, and there are around 27 million on this website every month. This website uses a contributor model in which there are wide networks of contributors who write as well publish articles on the site directly. Do you know almost everything about Forbes? If you do not know, we have prepared this article about the details of Forbes, including inception, evolution, awards, and net worth, along with many more facts. Well, if you’re ready, let’s start.
Inception
Walter Drey (general manager of Wall street magazine) and B.C. Forbes (financial columnist) together founded this magazine on 15th September in the year 1917 as Forbes. To start the magazine business, Forbes was the one who provided money, and Drey was good at publishing expertise. In the beginning, the name of the magazine was FORBES: DEVOTED TO DOERS AND DOING. B.C. Forbes was editor in chief of the magazine company, and he had this post till his death in the year 1954.
Drey got the position of vice president at B.C. FORBES COMPANY. After the death of B.C.Forbes, his elder son, Bruce Forbes, took over the marketing work. The circulation of magazines doubled during his tenure of ten years till 1964. When Bruce died, Malcolm Stevenson Forbes got the position of Chief executive and president of Forbes magazine.
In the year 2010, the company decided to sell the headquarters, which were located in Manhattan at FifthAvenue, and the deal terms weren’t reported in public. Forbes will be able to occupy space under the SALE LEASEBACK contract. After this, the headquarters of the company moved to Jersey City in Newport Section of New Jersey in the year 2014.
In the year 2013, Forbes Media, which is responsible for publishing the magazine, was put on sale. This thing was encouraged by the stakeholders of the company, and Deutsche Bank prepared sale documents. The Forbes family bought elevation and sold around 51% of the majority to the WHALE MEDIA INVESTMENTS.
Evolution
This magazine is published in fifteen local languages, and investment advice is also offered through Forbes on Radio and Fox TV show every week. The company groups include FORBES INVESTMENT ADVISORY GROUP, FORBES CUSTOM MEDIA, and FORBES CONFERENCE GROUP. In the year 2009, according to Times report, Forbes has opened this magazine in India due to which foreign editions are at ten numbers.
This company has also published AMERICAN LEGACY as a joint venture, but it was separated from Forbes Company on 14th May in 2007. This company also formed invention and technology magazines along with American Heritage. Since 2009, Forbes has published a FORBES TRAVEL GUIDE.
In the year 2013, the company gave its brand license to ASHFORD UNIVERSITY and then assisted them in launching FORBES SCHOOL OF BUSINESS & TECHNOLOGY. On 6th January in the year 2014, the company decided to have a partnership with Maz (app creator) to launch Stream (social network app).
Forbes.com is also part of the division of FORBES MEDIA LLC. Together these two sites have more than 27 million visitors every month. As per the report of Times, it was said traffic generated on Forbes.com helps to accumulate revenue around $70 million per annum.
In the year 1996, David Churbuck founded this FORBES’S website, and this brought attention to internet journalism. At present, this website blocks users who use ad-blocking software to get access to the articles. Forbes argued that this is only done because such software doesn’t let the site to earn revenue. There have been several malware attacks on the Forbes site.
Awards and Nominations
The proof that Forbes lists’ and the news is read worldwide is the most significant achievement of the magazine. Currently, almost every youngster dreams of being on the cover page of Forbes magazine, and that’s only because of the fame of the magazine across the world. The magazine itself decides awards for celebrities all around the globe that have done something great in their particular field.
Net Worth of Forbes in 2024
The CEO, editor, publisher, and owner of the Forbes Company is Steve Forbes. As of April 2024, His net worth is around $450 million. His annual salary is around $107,500,000. He is also the founder of Business Today magazine. The actual net worth of Forbes.com isn’t known because 51% of the money is gone to Forbes Media, while 49% stays with Forbes family, who was publishers of it.
Malcolm Stevenson Forbes Jr. is the Editor in Chief of this magazine, and he is also an advisor at FORBES SCHOOL OF BUSINESS AND TECHNOLOGY. A single person doesn’t run this magazine, but it has become a brand in the world because of numerous employees working for its development every day. It was started 102 years ago, and currently, it is ranked amongst the top business magazines in the world. Till 2013, its total circulation got to the number 931,558 approximately. Having a photo on Forbes magazine is the dream of many youngsters in the world, and you can dream the same.