Who Owns Forbes Magazine? Forbes Magazine Company History

May 2024 · 18 minute read

Forbes magazine, a renowned American business publication, has a long and storied history. Founded in 1917 by B.C. Forbes, a financial columnist, the magazine has become a trusted source of information and analysis in the world of finance, industry, and investing.

Since 2014, Forbes magazine has been owned by Integrated Whale Media Investments, a Hong Kong-based investment group. This ownership change has brought about new perspectives and opportunities for the magazine to expand its reach and influence.

Leading the magazine is Steve Forbes, who serves as the chairperson and editor-in-chief, along with CEO Mike Federle. Together, they continue to guide Forbes magazine’s mission of providing valuable insights and empowering individuals to make informed decisions in the business world.

Key Takeaways:

The History of Forbes Magazine

Forbes magazine has a rich history that dates back to its founding in September 1917. The magazine was established by B.C. Forbes, a prominent financial columnist for the Hearst papers, and Walter Drey, the general manager of the Magazine of Wall Street. Originally named Forbes: Devoted to Doers and Doings, the publication had a clear focus on business and finance from the very beginning.

B.C. Forbes served as the editor-in-chief of the magazine until his death in 1954. Throughout his tenure, he was assisted by his sons, Bruce Charles Forbes and Malcolm Forbes, who played crucial roles in the magazine’s growth and success. After B.C. Forbes’ passing, Bruce took over as the magazine’s leader and expanded its circulation significantly.

Malcolm Forbes, the younger son of B.C. Forbes, became the president and CEO of Forbes magazine following Bruce’s death. Under his leadership, Forbes magazine continued to flourish and solidify its position as a leading business publication.

From 1961 to 1999, Forbes magazine was edited by James Michaels, a seasoned journalist who played a pivotal role in shaping the publication’s content and direction. Today, Steve Forbes, the son of Malcolm Forbes, holds the position of editor-in-chief, ensuring the magazine’s continued commitment to providing valuable insights and analysis to its readers.

Now let’s take a closer look at the complete table showcasing the key individuals who have contributed to the success of Forbes magazine throughout its history:

FounderEditor-in-Chief (1917-1954)CEO (1954-1990)Editor-in-Chief (1961-1999)Editor-in-Chief (1999-present)
B.C. ForbesB.C. ForbesMalcolm ForbesJames MichaelsSteve Forbes

This table showcases the visionary individuals who have played significant roles in shaping Forbes magazine over the years. Their collective contributions have transformed Forbes into a reputable and influential publication in the business world.

Ownership Changes of Forbes Magazine

In the ever-evolving landscape of media ownership, Forbes Magazine has experienced its fair share of changes. Let’s delve into the notable shifts in ownership throughout the history of this iconic business publication.

Forbes Media and Integrated Whale Media Investments

In 2014, Forbes Media made a significant move by selling a majority stake to Hong Kong-based investment group Integrated Whale Media Investments. This strategic partnership allowed Forbes to tap into new markets and leverage the expertise of its new owners. Interestingly, while Forbes Media transformed through this ownership change, the Forbes family maintained a minority stake in the company, reinforcing their ongoing commitment and legacy.

Austin Russell’s Venture into Forbes Global Media Holdings

Fast forward to 2023, when Austin Russell, known as the CEO of Luminar Technologies, made headlines with his acquisition of an 82% stake in Forbes Global Media Holdings. This bold move valued the company at around $800 million, further solidifying the enduring value of the Forbes brand. Russell, who aims to serve as a visionary for Forbes, intends to focus on the brand’s strategic direction while entrusting day-to-day operations to capable hands. This fresh injection of leadership promises an exciting future for Forbes Magazine.

A Legacy of Transformation

These ownership changes represent just a snippet of Forbes Magazine’s journey. Throughout its history, the magazine has seen various transitions in ownership, reinforcing its resilience as a prominent and enduring business publication. Let’s take a look at the evolution in a snapshot:

YearOwnership Change
1917Founded by B.C. Forbes and Walter Drey
1954Bruce Forbes inherits ownership from B.C. Forbes
1990Malcolm Forbes becomes president and CEO
2014Integrated Whale Media Investments acquires majority stake
2023Austin Russell acquires 82% stake in Forbes Global Media Holdings

This ongoing evolution in ownership underscores the enduring relevance and influence of Forbes Magazine in the business world.

Forbes Magazine Ownership Image

Forbes Magazine’s Competitors

Forbes Magazine faces competition from other national business magazines in the market. Some of its notable competitors include Fortune and Bloomberg Businessweek. These magazines also focus on topics related to finance, industry, and investing, catering to individuals interested in the business world.

While each publication takes a unique approach and offers its own perspective, they all provide valuable insights and analysis to their readers. Here’s a brief comparison of these competitors:

MagazineUnique Features
Forbes MagazineKnown for its lists and rankings, such as the Forbes 400 and Forbes 30 under 30, which recognize the most successful individuals in various industries.
FortuneRenowned for its Fortune 500 list, which ranks the largest companies by revenue. It also provides in-depth coverage of business news and influential industry leaders.
Bloomberg BusinessweekOffers comprehensive coverage of global business, finance, and economics. It analyzes market trends, provides insights into investment strategies, and delves into the latest business developments.

Each of these publications attracts readers with its unique content and expertise in the business domain. Whether you’re looking for insights on industry trends, success stories, or investment opportunities, these magazines offer valuable resources that can help you stay informed and make informed decisions.

Forbes Magazine's Competitors

Notable Features of Forbes Magazine

Forbes Magazine offers a range of notable features that have captivated readers for decades. From prestigious lists to insightful rankings, the magazine’s content provides valuable information and industry insights. Let’s explore some of the key features that make Forbes Magazine a go-to source for business enthusiasts:

The Forbes 400

The Forbes 400 is an iconic list that showcases the wealthiest Americans. It highlights the individuals who have achieved remarkable financial success and have made a significant impact in their respective industries.

Forbes 30 under 30

The Forbes 30 under 30 list celebrates young trailblazers who have made exceptional accomplishments before the age of 30. These rising stars are recognized for their innovation, leadership, and contributions to various fields.

America’s Wealthiest Celebrities

Ever wondered how much your favorite celebrities are worth? Forbes’ list of America’s Wealthiest Celebrities reveals the financial success of popular individuals in the entertainment industry, giving readers a glimpse into the financial side of stardom.

The Forbes Global 2000

The Forbes Global 2000 ranks the world’s top companies based on a variety of financial metrics. This list provides valuable insights into the global business landscape, highlighting the most influential and successful organizations.

Forbes list of the World’s Most Powerful People

Forbes’ list of the World’s Most Powerful People features leaders who have significant influence and impact on global affairs. From political figures to business moguls, this list highlights the individuals shaping our world.

The World’s Billionaires

Curious about who holds the title of the world’s wealthiest individuals? Forbes’ list of the World’s Billionaires showcases the individuals with vast fortunes, revealing the ever-changing landscape of wealth creation.

These features not only provide valuable information but also inspire and inform readers about the world of business, finance, and success. Forbes Magazine’s commitment to delivering insightful content has solidified its position as a trusted source for those seeking knowledge and inspiration in the business world.

FeatureDescription
The Forbes 400Highlights the wealthiest Americans
Forbes 30 under 30Recognizes notable young achievers under the age of 30
America’s Wealthiest CelebritiesReveals the financial success of top celebrities
The Forbes Global 2000Ranks the world’s top companies based on financial metrics
Forbes list of the World’s Most Powerful PeopleIdentifies influential individuals shaping global affairs
The World’s BillionairesFeatures the individuals with vast fortunes

Forbes Magazine’s Motto

Forbes magazine, a renowned business publication, is guided by the powerful motto of “Change the World.” This motto encapsulates Forbes’ mission to provide valuable insights, analysis, and thought-provoking content that not only influences the business world but also extends its positive impact beyond. Through its comprehensive coverage of finance, industry, investing, and related subjects, Forbes aims to be a catalyst for change, driving innovation, and inspiring individuals across the globe.

Emphasizing its commitment to making a difference, Forbes Magazine strives to deliver content that challenges norms, sparks meaningful conversations, and offers actionable knowledge to its readers. By doing so, it aspires to shape the future of various industries, empower decision-makers, and foster positive transformations on a global scale.

forbes magazine motto

Aligning with its motto, Forbes Magazine consistently presents the most relevant and impactful stories, insights, and rankings to help individuals navigate the ever-evolving world of business successfully. From stories of visionary entrepreneurs to expert financial advice, Forbes covers an extensive range of topics, providing readers with the tools they need to drive change and achieve their goals.

Empowering Readers with Inspiring Insights

With “Change the World” as its guiding principle, Forbes Magazine has become a trusted source for individuals seeking inspiration, knowledge, and opportunities. It goes beyond traditional reporting, offering readers a unique blend of expert analysis, thought-provoking features, and actionable advice.

Forbes’ engaging stories highlight the achievements of influential business leaders, showcasing their innovative ideas and strategies. The magazine’s exclusive interviews, profiles, and in-depth investigations provide an insider’s perspective, revealing the secrets of success and the challenges faced by industry pioneers.

Lists and Rankings: Recognizing Excellence and Impact

In line with its mission, Forbes Magazine has established itself as the authority on lists and rankings, celebrating excellence, innovation, and impact across various industries. These lists, meticulously curated and published annually, serve as indicators of success and drive conversations in both corporate boardrooms and entrepreneurial circles.

These lists not only provide readers with valuable insights and context but also inspire and motivate individuals to push their own boundaries and strive for greatness.

By embracing its motto of “Change the World,” Forbes Magazine continues to be a trusted ally, empowering individuals, businesses, and communities through its informative, insightful, and influential content. Through its dedication to fostering positive change and shaping the future, Forbes remains at the forefront of the business media landscape, driving the conversation and inspiring action.

Forbes Magazine’s International Editions

Forbes magazine’s influence and relevance extend beyond the United States, with its international editions catering to a global audience. Apart from the original American edition, Forbes has an international edition specifically tailored for readers in Asia. This localized edition provides valuable insights into business and finance in the Asian region, covering topics that are important to this diverse and vibrant market.

In addition to the Asian edition, Forbes has licensed editions produced in 27 countries and regions worldwide. These localized editions ensure that Forbes can provide region-specific coverage, addressing the unique business landscapes and interests of each location. By partnering with local publishers, Forbes delivers insightful content that resonates with readers around the globe.

The international editions of Forbes magazine serve as a testament to its global impact. They not only broaden the publication’s reach but also enhance its credibility as a leading source of business news and analysis worldwide. Forbes’ commitment to delivering valuable content in different regions demonstrates its recognition of the diversity and interconnectedness of the global business community.

Table: Forbes Magazine’s International Editions

Country/RegionPublisherCirculation
ChinaChina Forbes Media500,000
IndiaNetwork 18300,000
JapanForbes Japan150,000
GermanyDeutscher Forbes Verlag200,000
United KingdomBritish Forbes Publishing250,000
AustraliaAustralian Financial Publications180,000

Recent Ownership Proposals and Developments

In 2023, Austin Russell, the CEO of Luminar Technologies, made an ambitious attempt to acquire an 82% stake in Forbes Global Media Holdings, the parent company of Forbes Magazine. This proposal garnered significant attention in the media industry and attracted scrutiny from the Committee on Foreign Investment in the United States.

Under Russell’s ownership plan, Forbes Magazine would have witnessed a refresh and transformation, guided by his visionary leadership. However, the deal faced obstacles, as Russell was ultimately unable to secure the necessary funds to finalize the acquisition.

Despite the unsuccessful outcome, the ownership proposal by Austin Russell serves as a testament to the enduring allure and influence of Forbes Magazine. The magazine’s brand, renowned for its authoritative reporting and comprehensive business insights, continues to attract interest and stimulate discussion within the industry.

Key Points
Austin Russell, CEO of Luminar Technologies, attempted to acquire an 82% stake in Forbes Global Media Holdings, the parent company of Forbes Magazine, in 2023
The proposal caught the attention of the Committee on Foreign Investment in the United States
Unfortunately, Russell was unable to secure the necessary funds, resulting in the collapse of the deal
The ownership proposal highlights the continuous interest in the Forbes Magazine brand and its enduring influence in the media industry

While the ownership landscape of Forbes Magazine has seen various developments and proposals over the years, its unique position as a leading business publication remains unchanged. The magazine’s commitment to insightful reporting and influential journalism ensures its ongoing relevance and impact in the ever-evolving business world.

Austin Russell Forbes Magazine

Forbes Media’s Expansion and Acquisitions

Forbes Media has not only established itself as a prominent business magazine but has also expanded its holdings to incorporate other media properties. In 2006, the investment group Elevation Partners, which includes renowned rock star Bono, bought a minority interest in Forbes Media LLC, marking a significant milestone in the company’s history. This partnership provided Forbes with the opportunity to diversify its portfolio and explore new avenues for growth.

One of the notable acquisitions made by Forbes Media was the incorporation of Forbes.com, a digital platform that complements the print magazine’s content. This strategic move allowed Forbes to extend its reach and engage with a wider audience in the rapidly evolving digital landscape. Forbes.com has become a major player in the online business journalism space, attracting millions of visitors each month.

Moreover, Forbes Media has leveraged its influential brand to forge partnerships in various sectors. One such partnership is the Forbes School of Business & Technology in collaboration with Ashford University. This initiative enables Forbes to extend its brand into the education realm, offering specialized business programs and courses.

Overall, these expansions and acquisitions represent Forbes Media’s commitment to staying relevant in an ever-changing media landscape. By embracing digital platforms and exploring new opportunities, Forbes continues to solidify its position as an industry leader.

Forbes Media’s Holdings and Acquisitions:

YearAcquisition/Partnership
2006Elevation Partners’ acquisition of a minority interest in Forbes Media LLC, including Forbes.com
—-—-
—-—-

Forbes Media Acquisitions

Forbes Magazine’s Digital Presence

In addition to its print publication, Forbes has a significant digital presence. Forbes.com, the company’s digital platform, features daily news, articles, investigations, videos, and its famous lists.

With over 66 million digital visitors every month in the United States alone, Forbes.com is one of the most widely visited business websites worldwide.

The company continues to adapt to the digital landscape to provide timely and relevant content to its readers.

Features of Forbes.com:

  • Daily News: Stay updated with the latest business news from around the world.
  • Articles: In-depth analysis and insights on finance, industry, investing, marketing, and other related subjects.
  • Investigations: Discover in-depth investigative reporting on notable business stories.
  • Videos: Engaging video content featuring interviews, industry trends, and expert advice.
  • Lists: Explore Forbes’ famous lists, such as the Forbes 400, Forbes 30 under 30, and The World’s Billionaires.
  • Forbes.com is designed to cater to the needs of its digital audience, delivering valuable content across various formats.

    Forbes Digital Presence

    Current Leadership of Forbes Magazine

    Forbes Magazine is led by a dynamic and experienced leadership team, ensuring its continued success and prominence in the business world. The current chairperson and editor-in-chief is Steve Forbes, who brings a wealth of knowledge and expertise to the publication. Steve Forbes is widely respected for his contributions to business journalism and his role in shaping the magazine’s editorial direction.

    Working alongside Steve Forbes is Mike Federle, the CEO of Forbes Magazine. With his strategic vision and leadership skills, Mike Federle has played a pivotal role in the magazine’s growth and expansion. Together, Steve Forbes and Mike Federle form a formidable leadership duo, guiding Forbes Magazine to new heights.

    Under their stewardship, Forbes Magazine continues to provide valuable insights and analysis on finance, industry, investing, and other related subjects. Their commitment to journalistic excellence ensures that Forbes remains at the forefront of business media, delivering compelling content to its readers.

    The Vision of Steve Forbes

    Steve Forbes is recognized for his unwavering commitment to the principles of free markets and capitalism. Throughout his tenure at Forbes Magazine, he has championed entrepreneurship, innovation, and individual liberty. His vision for the publication is rooted in empowering readers with knowledge and inspiring them to take action.

    As an advocate for business and economic growth, Steve Forbes has made Forbes Magazine a platform for thought leaders, industry experts, and successful entrepreneurs from around the world. Through its influential articles and interviews, Forbes Magazine showcases the ideas and strategies that are shaping the future of business.

    Leadership PositionName
    Chairperson and Editor-in-ChiefSteve Forbes
    CEOMike Federle

    With Steve Forbes and Mike Federle at the helm, Forbes Magazine remains a trusted source of information and a driving force in the business community. Their leadership ensures that the magazine continues to evolve, adapt, and provide valuable insights to readers around the world.

    Forbes Magazine current leadership

    Forbes Magazine’s Impact and Influence

    Forbes Magazine has made a lasting impact on the business community, solidifying its influence as a trusted source of information and analysis. One of the key ways in which Forbes has become a prominent player in the business media landscape is through its influential lists and rankings. These lists, such as the Forbes 400 and Forbes 30 under 30, have become benchmarks for success in various industries, shaping conversations and decisions.

    By highlighting the achievements and milestones of individuals and companies, Forbes Magazine has provided invaluable insights into the business world. Its coverage of diverse industries and notable personalities has become essential reading for professionals seeking to stay informed and make informed decisions.

    Underlying Forbes’ commitment to journalism is its mission to “Change the World.” This mission drives the magazine’s coverage and resonates with its readership. Forbes aims to have a positive impact on the business community and beyond by delivering thought-provoking content that challenges the status quo and encourages innovation.

    Through its rigorous journalism and dedication to impactful reporting, Forbes Magazine has established itself as a trusted authority in business media. Its influence extends beyond its readership, shaping public opinion and driving conversations on a global scale. Forbes’ continued dedication to informing and inspiring business leaders solidifies its position as a trailblazing publication in the modern media landscape.

    FAQ

    Who owns Forbes Magazine?

    Forbes Magazine is currently owned by Hong Kong-based investment group Integrated Whale Media Investments. The Forbes family still retains a minority stake in the company.

    Who founded Forbes Magazine?

    Forbes Magazine was founded by B.C. Forbes and Walter Drey in September 1917. B.C. Forbes served as the editor-in-chief until his death in 1954.

    What is the history of Forbes Magazine?

    Forbes Magazine was originally named Forbes: Devoted to Doers and Doings and focused on business and finance. B.C. Forbes founded the magazine in 1917, and it has since grown to become a prominent business publication.

    What are the ownership changes of Forbes Magazine?

    Forbes Media has undergone various ownership changes throughout its history. In 2014, a majority stake was sold to Integrated Whale Media Investments. However, the Forbes family still holds a minority stake in the company.

    Who are the competitors of Forbes Magazine?

    Forbes Magazine competes with other national business magazines such as Fortune and Bloomberg Businessweek. These publications also cover topics related to finance, industry, and investing.

    What are the notable features of Forbes Magazine?

    Forbes Magazine is known for its lists and rankings, including the Forbes 400, Forbes 30 under 30, America’s Wealthiest Celebrities, and The World’s Billionaires. These lists provide valuable information and insights into various industries and individuals.

    What is the motto of Forbes Magazine?

    The motto of Forbes Magazine is “Change the World.” This reflects the publication’s mission to provide valuable insights and analysis that can have a positive impact on the business world and beyond.

    Does Forbes Magazine have international editions?

    Yes, Forbes Magazine has an international edition in Asia and licenses editions produced in 27 countries and regions worldwide. These localized editions allow Forbes to reach a global audience and provide insight into business and finance in different regions.

    What are the recent ownership proposals and developments for Forbes Magazine?

    In 2023, Austin Russell, the CEO of Luminar Technologies, attempted to acquire an 82% stake in Forbes Global Media Holdings. However, the deal collapsed due to a failure to secure necessary funds.

    Has Forbes Media expanded its holdings beyond the magazine?

    Yes, Forbes Media has expanded its holdings beyond the magazine itself. They have incorporated other media properties into their portfolio, including Forbes.com. The company has also licensed its brand to other ventures, such as the Forbes School of Business & Technology.

    What is the digital presence of Forbes Magazine?

    Forbes Magazine has a significant digital presence through Forbes.com, which features daily news, articles, investigations, videos, and its famous lists. Forbes.com attracts over 66 million digital visitors every month in the United States alone.

    Who is the current leadership of Forbes Magazine?

    The current leadership of Forbes Magazine includes Steve Forbes as the chairperson and editor-in-chief, and Mike Federle as the CEO. They are focused on maintaining Forbes’ reputation for journalistic excellence and driving the magazine’s continued success.

    What is the impact and influence of Forbes Magazine?

    Forbes Magazine has had a significant impact and influence on the business community. Its lists and rankings have become benchmarks for success, and its coverage of various industries and individuals has shaped conversations and decisions in the business world.

    ncG1vNJzZmiykZi3sLTNrKanZpOkunDDx6hkqK%2BeqHqnu9GbnKxlnZa0osbIp5xo