Forbes facts for kids

Quick facts for kids
Forbes

Cover of the issue from December 20, 2010, featuring WikiLeaks founder Julian Assange
Chairman / Editor-in-chief	Steve Forbes
Editor	Randall Lane
Categories	Business magazine
Frequency	Twice quarterly
Publisher	Forbes Media
Total circulation (2023)	514,184
Founder	B. C. Forbes
First issue	September 15, 1917; 107 years ago (1917-09-15)
Company	Integrated Whale Media Investments
Country	United States
Based in	Jersey City, New Jersey, U.S.
Language	English
ISSN	0015-6914
OCLC	6465733

Forbes is a well-known American magazine about business. It was started by B. C. Forbes in 1917. Since 2014, a company from Hong Kong called Integrated Whale Media Investments has owned it.

The magazine's main leader and editor is Steve Forbes. The main office for Forbes is in Jersey City, New Jersey. As of January 1, 2025, Sherry Phillips is the CEO of Forbes.

Forbes magazine is published eight times a year. It has articles about money, different industries, and how to invest. It also covers topics like technology, ways people communicate, science, and even politics.

Forbes has special editions in Asia and in 27 other countries. The magazine is famous for its lists. These lists include the richest people in America, young people under 30 who are doing great things, and the world's top companies. The motto of Forbes magazine is "Change the World."

The Story of Forbes Magazine

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

Forbes magazine was started on September 15, 1917. B. C. Forbes was a writer for other newspapers. He teamed up with Walter Drey to create the magazine. B. C. Forbes put up the money and gave the magazine his name. Walter Drey helped with how to publish it.

The first name of the magazine was Forbes: Devoted to Doers and Doings. B. C. Forbes was the main editor until he passed away in 1954. His two oldest sons, Bruce Charles Forbes and Malcolm Forbes, helped him in his later years.

Leadership Changes Over Time

After his father died, Bruce Forbes took over the magazine. He worked to make the company run more smoothly. He also helped with marketing. During his time as leader, from 1954 to 1964, the number of magazines sold almost doubled.

When Bruce passed away, his brother Malcolm Forbes became the president and CEO. He also became the editor-in-chief of Forbes magazine. From 1961 to 1999, James Michaels was the editor of the magazine. In 1993, Forbes was even a finalist for a big award called the National Magazine Award.

In 2006, a group of investors bought a small part of the company. This group included the famous rock star Bono. They created a new company called Forbes Media LLC. This new company now includes Forbes magazine and its website, Forbes.com.

In 2021, Forbes Media made a profit again. Their income went up by 34 percent to $165 million. A lot of this growth came from Forbes' business with its readers. The CEO, Mike Federle, said that Forbes reaches 150 million people.

Moving Headquarters

In January 2010, Forbes agreed to sell its main office building. This building was on Fifth Avenue in Manhattan. They sold it to New York University. Forbes continued to use the building for five more years.

In 2014, the company's main office moved. It moved to the Newport area of downtown Jersey City, New Jersey.

New Owners for Forbes

In November 2013, Forbes Media was put up for sale. This was suggested by some of the smaller owners. In July 2014, the Forbes family bought out some of the other owners. Then, a company from Hong Kong called Integrated Whale Media Investments bought a 51 percent share of the company. This meant they became the main owners.

Recent Sale Attempts

In August 2021, Forbes announced plans to become a public company. This would happen through a special type of company called a SPAC. They planned to trade on the New York Stock Exchange. In February 2022, a company called Binance said it would invest $200 million in Forbes.

However, in June 2022, Forbes stopped the plan to go public. They said the market conditions were not good. In August 2022, the company announced it was looking to sell its business again.

In May 2023, a billionaire named Austin Russell agreed to buy 82 percent of Forbes. This deal would have valued the company at $800 million. His ownership would have included the part of the company still owned by the Forbes family. However, in November 2023, this deal also fell apart. Austin Russell could not get enough money together.

Other Publications and Ventures

Besides Forbes magazine, there is also Forbes Life. This is a magazine about lifestyle topics. Forbes also has 42 international editions. These cover 69 different countries.

Magazines That Are No Longer Published

Some Forbes magazines have stopped being published.

Steve Forbes and writers from the magazine give investment advice. They appear on the weekly Fox TV show Forbes on Fox. They also have a radio show called Forbes on Radio. Other parts of the company include Forbes Conference Group and Forbes Investment Advisory Group.

In 2009, the company started publishing ForbesWoman. This is a magazine published four times a year. It is led by Steve Forbes's daughter, Moira Forbes.

Forbes used to publish American Legacy magazine. It also published American Heritage and Invention & Technology magazines. These magazines are now published by other companies. Since 2009, Forbes has published the Forbes Travel Guide.

In 2013, Forbes allowed Ashford University to use its name. This helped launch the Forbes School of Business & Technology. The CEO, Mike Federle, said this was a good way to make money.

In January 2014, Forbes magazine launched a social networking app. It is called "Stream." This app lets Forbes readers save and share pictures and videos. They can also find content from Forbes magazine and Forbes.com.

Forbes.com: The Online World

David Churbuck started the Forbes website in 1996. The website became known for finding out about fake news stories. For example, in 1998, it showed that a journalist named Stephen Glass had made up stories.

Forbes.com is part of Forbes Digital. This is a division of Forbes Media LLC. Forbes also owns a part of RealClearPolitics. Together, these websites get more than 27 million visitors each month. Forbes.com uses the slogan "Home Page for the World's Business Leaders." In 2006, it claimed to be the most visited business website in the world.

Forbes.com uses a system where many freelance writers contribute. These writers publish articles directly on the website. They are paid based on how many people read their articles. Over 2,500 people have written for the site. Some writers have earned a lot of money this way.

The website also allows advertisers to publish articles. These articles appear next to the regular news stories. This program is called BrandVoice. It makes up more than 10 percent of Forbes' online income.

By 2019, the company was publishing 100 articles every day. These were written by 3,000 outside writers. Many of these writers were paid very little or nothing. Some people have criticized this system. They say it changed Forbes' reputation.

In 2017, the website started blocking people who use ad-blocking software. It asked them to turn off their ad blockers to read articles. Forbes said this is because people using ad blockers do not help the site make money.

In 2020, Forbes won an award. It received the Webby People's Voice Award for Business Blog/Website.

Forbes8: A Streaming Platform

In November 2019, Forbes launched a streaming platform called Forbes8. This platform shows videos about famous business people. It also shares tips for starting and running a business. In 2020, Forbes8 announced new documentary series. These included Forbes Rap Mentors and Driven Against the Odds.

More to Explore

• 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

See also

In Spanish: Forbes para niños