Forbes

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Forbes Building on Fifth Avenue in New York City

Forbes is an American publishing and media company. Its flagship publication Forbes magazine, currently published bi-weekly, was founded in 1917 by Scottish immigrant B.C. Forbes, then the leading business columnist for Hearst newspapers. After his death in 1954 his son Bruce became president. Bruce died in 1964 and his brother Malcolm Stevenson Forbes (19171990) became Editor-in-Chief and Publisher.

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. The other officers of Forbes include Steve's brother Timothy C. Forbes, Chief Operating Officer, Robert L. Forbes Vice President and President of ForbesLife and Christopher Forbes Vice Chairman. In 2006, the brothers sold a reported 40% of the company to Elevation Partners, a private equity firm, and created a new company, Forbes Media LLC, to publish Forbes magazine, Forbes.com and other media properties.

Forbes is headquartered on Fifth Avenue in New York City. The current editor is William Baldwin; the current managing editor is Dennis Kneale; the publisher is Richard Karlgaard.

Apart from Forbes and its lifestyle supplement, ForbesLife, the other titles published include Forbes Asia and eight local language editions. The company also publishes American Heritage, American Heritage of Invention & Technology and American Legacy. 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.

Forbes's Web site, Forbes.com, bills itself as "Home Page For The World's Business Leaders" and is the most widely visited business web site. It features in-depth coverage of current business and financial events. The current president and chief executive officer is James J. Spanfeller; the current editor is Paul Maidment; the current managing editor is Daniel Bigman. Forbes.com also publishes subscription investment newsletters, a luxury-vehicles site, ForbesAutos, a luxury travel site, ForbesTraveler, edited by G. Barry Golson, the former executive editor of Playboy and TV Guide and former editor-in-chief of Yahoo! Internet Life, and an online guide to web sites, Best Of The Web.

David Churbuck founded Forbes.com in 1996. The site drew attention when it uncovered Stephen Glass' journalistic fraud in The New Republic in 1998, a scoop that gave credibility to internet journalism.

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[edit] Bono invests

Bono (lead singer of band U2) and the other partners of Elevation Partners, a venture capital company, have invested $300 million on August 6 2006 for a 40% stake in this business <ref>Forbes 'Forbes Announce Elevation Partners Investment in Family Held Company' - August 6th, 2006</ref> <ref>Irish Independent, Media mogul Bono buys "rich list" - August 7th, 2006</ref>.

[edit] Lists

Forbes creates many lists under various topics, the most popular being perhaps the List of billionaires.

[edit] Companies

[edit] People

In popular culture Forbes is perhaps best-known for its many periodic lists of net worth. As it often takes considerable detective work to determine the actual wealth of an individual, Forbes' figures are widely cited as nearly-definitive.

[edit] Places

[edit] "Errors"

In 2005, Forbes listed Fidel Castro among the world's richest people, with an estimated net worth of $550 million. This was based on economic control of Cuban state-owned companies. In 2006, Forbes magazine increased their estimate of Castro's wealth to $900 million. but acknowledged in the article that the estimates for all the leaders are "more art than science."

[edit] See also

[edit] Reference

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[edit] External links

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Forbes

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