![]() Forbes Building on Fifth Avenue in New York City (now owned by New York University) |
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Editor-in-chief | Steve Forbes |
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Publisher | Forbes publishing |
First issue | 1917 |
Country | United States |
Based in | New York City |
Language | English |
Website | forbes.com |
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week. The magazine is well-known for its lists, including its lists of the richest Americans (the Forbes 400) and its list of billionaires. The motto of Forbes magazine is "The Capitalist Tool." Its editor-in-chief is Steve Forbes.
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Company history
![](https://web.archive.org/web/20110401034611im_/http://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Naked_Pictures_of_Bea_Arthur_0078.jpg/220px-Naked_Pictures_of_Bea_Arthur_0078.jpg)
B. C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street,[1] founded Forbes magazine in 1917.[2] Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings.[1] Drey became vice-president of the B.C. Forbes Publishing Company,[3] while B.C. Forbes became editor-in-chief, a post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Stevenson Forbes (1917–1990).
Bruce Forbes took over on his father's death, and his strengths lay in streamlining operations and developing marketing.[2] During his tenure, 1954–1964, the magazine's circulation nearly doubled.[2]
On Malcolm's death, his eldest son Malcolm Stevenson "Steve" Forbes Jr. (1947–) became President and Chief Executive of Forbes and Editor-in-Chief of Forbes magazine.[4] Between 1961 and 1999 the magazine was edited by James Michaels.[5] In 1993, under Michaels, Forbes was a finalist for the National Magazine Award.[6] In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company.[4][7] 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. According to Mark M. Edmiston of AdMedia Partners, 'It’s probably not worth half of that now.'"[8]
The popularity of Forbes magazine has extended to mainstream and Hip-Hop culture. 50 Cent has released the official remix to his hit single, "I Get Money" off his September 11, 2008 album, Curtis, entitled Forbes 1,2,3 (also known as the "Billion Dollar Remix"). The title of the song comes from the fact that Jay-Z, 50 Cent, and Diddy were listed as Forbes' Top 3 money-making Kings of Hip-Hop, respectively. The unfinished video for Forbes 1,2,3 can be seen as the intro to 50 Cent's single, "I Still Kill" featuring Akon, off his multi-platinum album Curtis.
Other publications
Apart from Forbes and its lifestyle supplement, ForbesLife, other titles are published, including Forbes Asia and fifteen local language editions. Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes On Radio. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. 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. In addition, this year the company began publishing ForbesWoman, a quarterly magazine with a companion Web site."[8]
The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes as of May 14, 2007.[9]
The company also formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 14, 2007.[10] Both magazines have since been purchased by the American Heritage Publishing Company, and have resumed publication as of Spring 2008.[11]
Forbes.com
David Churbuck founded Forbes' Web site in 1996. The site uncovered Stephen Glass' journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism. 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 Toyotas suddenly gone bad. The site, like the magazine, publishes many lists focusing on billionaires and their possessions, especially expensive homes, a critical aspect of the website's apparent popularity.[12] See a list of lists below.
Forbes.com employs the slogan "Home Page For The World's Business Leaders" and sometimes claims to be the world's most widely visited business web site.[13] The current president and chief executive officer is James J. Spanfeller; the current editor is Paul Maidment; the current managing editor is Carl Lavin,[14] who succeeded founding managing editor Michael Noer and Dan Bigman.[15]
Forbes.com now employs a new slogan - "Information for the World's Business Leaders". According to Forbes.com, the Web site is among the most trusted resources for senior business executives, providing them the real-time reporting, uncompromising commentary, concise analysis, relevant tools and community they need to succeed at work, profit from investing and have fun with the rewards of winning.
Forbes.com also publishes subscription investment newsletters, and an online guide to web sites, Best Of The Web.
Forbes.com is part of Forbes’ Digital, a division of Forbes Media LLC. Forbes.com and affiliated properties include:
- Forbes.com (site)
- Realclearmarkets.com (site)
- Realclearsports.com (site)
- Realclearpolitics.com (site)
Together these sites reach more than 27 million unique visitors each month.
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."[8]
Sale of headquarters to New York University
In January 2010, Forbes reached an agreement to sell its headquarter building located on Fifth Avenue in Manhattan to New York University. Terms of the deal were not publicly disclosed, but Forbes will continue to occupy the space under a five year sale-leaseback arrangement.[16]
Lists
Wealth:
• The World's Billionaires [1]
• The 400 Richest Americans [2]
• Australia & New Zealand's 40 Richest [3]
• China's 400 Richest [4]
• Taiwan's 40 Richest [5]
• Hong Kong's 40 Richest [6]
• India's 100 Richest [7]
• Japan's 40 Richest [8]
• Korea's 40 Richest [9]
• Malaysia's 40 Richest [10]
• Philippines 40 Richest [11]
• Singapore's 40 Richest [12]
• Indonesia's 40 Richest [13]
• Thailand's 40 Richest [14]
Companies:
• 200 Best Small Companies [15]
• 400 Best Big Companies [16]
• America's Largest Private Companies [17]
• Asia's Best Under A Billion [18]
• Asia's Fab 50 Companies [19]
• Global High Performers [20]
• The Forbes 2000 [21]
• Top Micro finance Institutions [22]
People:
• The Best Brokerage Analysts [23]
• 48 Asian Altruists [24]
• The Celebrity 100 [25]
• The Forbes Fictional 15 [26]
• The World's Most Powerful Women [27]
• Top Earning CEO's [28]
• Top-Earning Dead Celebrities [29]
• The World's Top-Earning Models [30]
Money & Investing
• The 100 Best Mid-Cap Stocks [31]
• The 200 Largest U.S. Charities [32]
• The Best Brokerage Analysts [33]
• International Investing [34]
• The Investment Guide [35]
• Mutual Fund Guide [36]
Places
• America's Best Colleges [37]
• Best Business Schools [38]
• Best Cities For Singles [39]
• Best Countries For Business [40]
• Best Places For Business And Careers [41]
• The Best States For Business [42]
• Most Expensive ZIP Codes [43]
Sports
• The Business Of Baseball [44]
• Most Valuable NASCAR Teams [45]
• The Business Of Basketball [46]
• The Business Of Football [47]
• The Business Of Hockey [48]
• Most Valuable Soccer Teams [49]
• Top-Paid Tennis Stars [50]
Technology
• The E-Gang [51]
• The Web Celeb 25 [52]
• The 25 Fastest-Growing Tech Companies [53]
• Tech's Top Deal Makers [54]
Education
• America's Best Colleges [55]
• Best Business Schools [56]
• America's Best College Buys [57]
Food and Drink
• World’s Most Expensive Fast Food [58]
• Ten Great Unfiltered Wines to Try [59]
• Ten Bordeaux and California Reds Head-to-Head [60]
• India’s Fine Wine Hotspots [61]
• The World’s Most Coveted Champagnes [62]
• Top-Earning Celebrity Chefs [63]
Health
• Eleven Way to Boost Your Energy [64]
• America’s Fittest Cities [65]
• The World’s Diet Secrets [66]
• Ten Meals You Should Memorize [67]
• The Healthiest Foods on Earth [68]
• America’s Most Polluted Cities [69]
Real Estate
• America’s Thriftiest Cities [70]
• World’s Most Expensive Cities to Live [71]
• America’s 25 Best Places to Move [72]
• America’s Most Congested Cities [73]
• America’s Fastest-Falling Cities [74]
• U.S. Cities Where It’s Hardest to Get By [75]
• America’s Top-Selling Luxury Neighborhoods [76]
• World’s 20 Best Places to Live [77]
• America’s Top 25 Towns to Live Well [78]
• America’s Most Expensive Zip Codes [79]
Style
• World’s Most Stylish Cities [80]
• World’s Most Powerful Luxury Brands [81]
• Sneaky Ways You’re Lured to Shop [82]
• Winter Gear Worth the Buck [83]
• What Your Dog Says About You [84]
• Spa Treatments Too Bizarre To Believe [85]
• Most Powerful U.S. Fashion Magazine Editors [86]
Travel
• Deluxe Designer Hotels [87]
• Wallet-Friendly Last-Minute Getaways [88]
• Travel Etiquette in the World’s Most Visited Countries [89]
• Hidden Treasures of the Middle East [90]
• World’s 10 Best Airports [91]
Vehicles
• Toughest Cars on the Road [92]
• World’s Most Expensive Commutes [93]
• Highest Quality Cars of 2009 [94]
• Ten Cars That Changed the World [95]
• America’s Most Overpriced Cars [96]
• 2009’s Fastest Cars Under $100,000 [97]
• Best Convertibles of 2009 [98]
• Best Cars for Suburban Drivers [99]
• America’s Most Popular Car Colors [100]
• Most Affordable 2009 Vehicles [101]
Notes
- ^ a b "Notes of a Business Quizzer: Forbes" (6 July 2007)
- ^ a b c Gorman, Robert F. (ed.) (2007) "September 15, 1917: Forbes Magazine is founded" The Twentieth Century, 1901-1940 (Volume III) Salem Press, Pasadena, California, pp.1374-1376, p. 1375, ISBN 978-1-58765-327-8
- ^ Commerce and Industry Association of New York (18 November 1922) "The Association Prepares for New Demands: The Volunteer Workers" Greater New York: Bulletin of the Merchants' Association of New York Commerce and Industry Association of New York, New York, p. 6, OCLC 2447287
- ^ a b 'Forbes Announce Elevation Partners Investment in Family Held Company' Elevation Partners press release, August 6, 2006.
- ^ "James Michaels, Longtime Forbes Editor, Dies at 86 - New York Times". http://www.nytimes.com/2007/10/04/business/04michaels.html. Retrieved 2008-01-05.
- ^ "National Magazine Awards Database". http://www.magazine.org/asme/magazine_awards/searchable_database/index.aspx. Retrieved 2008-01-05.
- ^ "NussbaumOnDesign Bono Buys Into Forbes, Launches Product Red in US and Expands His Brand. - BusinessWeek". http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2006/08/bono_buys_into.html. Retrieved 2008-01-05.
- ^ a b c "Even Forbes is Pinching Pennies" by David Carr, The New York Times, June 14, 2009 (6/15/09 on p. B1 of the NY ed.). Retrieved 6/15/09.
- ^ With The May 14 Announced Separation: Twelve-Year-Old "American Legacy"/"Forbes" Partnership Was Mutually Beneficial. Industry & Business Article - Research, News, Information, Contacts, Divisions, Subsidiaries, Business Associations
- ^ American Heritage - Magazines - New York Times
- ^ AmericanHeritage.com / Thank You for Your Feedback on the American Heritage Winter 2008 Issue
- ^ "Jobs: Motley to Leave Time Inc., Plus More Job-Hopping Fun". http://www.gawker.com/news/jobs/motley-to-leave-time-inc-plus-more-jobhopping-fun-162725.php. Retrieved 2008-01-05.
- ^ [http://www.nytimes.com/2006/#REDIRECT [[
Target page name
]]08/28/technology/28forbes.html?pagewanted=all "At Forbes.com, Lots of Glitter but Maybe Not So Many Visitors - New York Times"]. http://www.nytimes.com/2006/#REDIRECT [[
Target page name
]]08/28/technology/28forbes.html?pagewanted=all. Retrieved 2008-01-05. - ^ "Poynter Online - Forums". http://poynter.org/forum/view_post.asp?id=12876. Retrieved 2008-01-05.
- ^ "Revolt of the Page-Slaves?". http://www.observer.com/2007/revolt-page-slaves. Retrieved 2008-01-05.
- ^ Forbes Sells Building to N.Y.U.. New York Timed Media Decoder. Retrieved on 2010-01-07.
Further reading
- Forbes, Malcolm S. (1974) Fact and Comment Knopf, New York, ISBN 0-394-49187-4; twenty-five years of the editor's columns from Forbes
- Grunwald, Edgar A. (1988) The Business Press Editor New York University Press, New York, ISBN 0-8147-3016-7
- Holliday, Karen Kahler (1987)A Content Analysis of Business Week, Forbes and Fortune from 1966-1986 Masters of Journalism thesis from Louisiana State University, Baton Rouge, 69 pages, OCLC 18772376, available on microfilm
- Kohlmeier, Louis M.; Udell, Jon G. and Anderson, Laird B. (eds.) (1981) Reporting on Business and the Economy Prentice-Hall, Englewood Cliffs, New Jersey, ISBN 0-13-773879-X
- Kurtz, Howard (2000) The Fortune Tellers: Inside Wall Street’s Game of Money, Media, and Manipulation Free Press, New York, ISBN 0-684-86879-2
- Tebbel, John William and Zuckerman, Mary Ellen (1991) The Magazine in America, 1741-1990 Oxford University Press, New York, ISBN 0-19-505127-0
- Parsons, D. W. (1989) The Power of the Financial Press: Journalism and Economic Opinion in Britain and America Rutgers University Press, New Jersey, ISBN 0-8135-1497-5
External links
- Official site
- Advertising Information
- A complete listing of all of Forbes' lists
- Forbes India
- (Russian) Forbes Russia
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