Malcolm Forbes facts for kids
Quick facts for kids
Malcolm Forbes
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Forbes in 1957
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| Member of the New Jersey Senate from the Somerset district |
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| In office January 1952 – September 8, 1958 |
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| Preceded by | Freas Hess |
| Succeeded by | William E. Ozzard |
| Personal details | |
| Born |
Malcolm Stevenson Forbes
August 19, 1919 Englewood, New Jersey, U.S. |
| Died | February 24, 1990 (aged 70) Far Hills, New Jersey, U.S. |
| Political party | Republican |
| Spouse |
Roberta Remsen Laidlaw
(m. 1946; div. 1985) |
| Children | 5, including Steve, Kip, and Tim |
| Relatives | B. C. Forbes (father) Forbes family |
| Education | Princeton University (BA) |
| Civilian awards | Pride of Performance (1983) Motorcycle Hall of Fame (1999) New Jersey Hall of Fame (2008) |
| Military service | |
| Allegiance |  United States |
| Branch/service |  United States Army |
| Years of service | 1941–1946 |
| Rank | Staff Sergeant |
| Unit | 84th Infantry Division, 334th Infantry Regiment |
| Battles/wars | World War II |
| Military awards | Bronze Star Purple Heart |
Malcolm Stevenson Forbes (born August 19, 1919 – died February 24, 1990) was an American businessman and politician. He was best known as the publisher of Forbes magazine. His father, B. C. Forbes, started the magazine.
Malcolm Forbes was a big supporter of capitalism and free markets. He was also known for his exciting lifestyle. He enjoyed throwing parties, traveling, and collecting many things. These included homes, yachts, airplanes, art, motorcycles, and Fabergé eggs.
Forbes was also involved in politics. He served two terms in the New Jersey Senate. He represented Somerset County. He also tried twice to become the Governor of New Jersey. In 1953, he lost the Republican nomination. In 1957, he was nominated but lost the election.
Contents
Early Life and Military Service
Malcolm Forbes was born on August 19, 1919. His birthplace was Englewood, New Jersey. His father, B. C. Forbes, was a financial journalist. His mother was Adelaide Mary Stevenson.
He finished The Lawrenceville School in 1937. In 1941, he earned a degree from Princeton University. He studied public and international affairs.
Forbes joined the Army in 1942. He served as a machine gunner in World War II in Europe. He was part of the 84th Infantry Division. He rose to the rank of staff sergeant. During combat, he was wounded in his thigh. He received a Bronze Star and a Purple Heart for his bravery.
Career in Business and Politics
After his military service, Forbes entered politics. He served in the New Jersey Senate from 1951 to 1957. He also ran for Governor of New Jersey but was not successful.
By 1957, he focused completely on Forbes magazine. This was three years after his father passed away. In 1964, his brother Bruce Charles Forbes died. Malcolm then took full control of the company.
The magazine grew steadily under his leadership. Forbes also invested in other businesses. These included real estate sales. One of his last projects was a magazine called Egg. It covered New York's nightlife. In 1989, he received the Walter Cronkite Award for Excellence in Journalism. This award honored his work at the magazine.
Malcolm Forbes' Collections
Malcolm Forbes was a passionate collector. He had many unique items. He owned a large art collection. He also collected historical documents.
His collections included Harley-Davidson motorcycles. He also had specially shaped hot air balloons. One of his most famous collections was of Peter Carl Fabergé's works. He owned over 365 pieces, including twelve Imperial eggs.
Forbes was known for his grand lifestyle. He had a private Boeing 727 jet, which he called Capitalist Tool. He also owned large yachts named Highlander. He had a French castle, the Château de Balleroy in Normandy. He also threw very fancy birthday parties.
For his 70th birthday, he hosted a huge party. It was held at the Mendoub Palace in Tangier, Morocco. He had bought the palace in 1970. He spent about $2.5 million on the party. He flew in 800 famous guests from New York and London. He used a Boeing 747, a Douglas DC-8, and a Concorde jet.
The party had amazing entertainment. This included 600 drummers, acrobats, and dancers. There was also a show by 300 Berber horsemen. Each guest received a special Rolex watch as a gift.
Motorcycle Enthusiast
Malcolm Forbes became a motorcyclist later in his life. He started a motorcycle club called the Capitalist Tools. His home in New Jersey was a common meeting spot. He organized tours for other motorcyclists from New Jersey and New York.
He owned many motorcycles. He especially liked Harley-Davidson bikes. He famously gave a Harley-Davidson, called Purple Passion, to actress Elizabeth Taylor. He also helped pass a law. This law allowed motorcycles on the Garden State Parkway in New Jersey.
Family Life
Malcolm Forbes was married to Roberta Remsen Laidlaw for 39 years. They divorced in 1985. They had five children together. Their children were Malcolm S. Jr. (known as Steve), Robert Laidlaw, Christopher Charles, Timothy Carter, and Moira Hamilton. His son, Steve Forbes, ran for president in 1996.
Malcolm also continued a family tradition. His father used to visit his hometown in Scotland every two years. He would host a picnic for the local people. Malcolm revived this tradition in 1987.
Death and Legacy
Malcolm Forbes passed away in 1990. He was 70 years old. He died of a heart attack at his home in Far Hills, New Jersey.
Since his death, his son Steve Forbes and granddaughter Moira Forbes have run the magazine business.
Awards and Honors
- 1942 - Bronze Star
- 1942 - Purple Heart
- 1949 - Freedoms Foundation Medal
- 1974 - Golden Plate Award of the American Academy of Achievement
- 1983 - Pride of Performance award from the President of Pakistan
Posthumous Honors
- 1999 - Inducted into the Motorcycle Hall of Fame
- 2008 - Inducted into the New Jersey Hall of Fame
See also
- Forbes Galleries
- Forbes Museum of Tangier
