Forbes, an American publishing and media company publishes a biweekly Forbes magazine. Fortune and Business Week which are also published biweekly are its primary competitors in the national business magazine category. Forbes, well-known for its list of the richest Americans and billionaires, serves the motto “The Capitalist Tool”, with Steve Forbes as its editor-in-chief.
Forbes magazine was discovered in 1917 by B. C. Forbes, a financial columnist for the Hearst papers, partnered with Walter Drey, the General Manager of the Magazine of Wall Street. Forbes provided finance and ofcourse his name, while Drey brought in the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings, which was later changed to just Forbes. Drey was designated as the Vice-President of the B. C. Forbes Publishing Company, while B. C. Forbes remained the Editor-In-Chief being later assisted by his two eldest sons, Bruce Charles Forbes and Stevenson Forbes until his death in 1954.
Bruce Forbes, after his father’s death, took over the Forbes for streamlining operations and developing marketing which bolstered the magazine’s circulation during his tenure of ten years. Malcolm Stevenson “Steve” Forbes Jr. , Malcolm’s son took over in 1947 till present, after his father’s death to be the President and Chief Executive of Forbes and also the Editor-In-Chief of Forbes magazine. In 1993, under James Michael editorship, Forbes was a finalist for the National Magazine Award.
Forbes Life, a lifestyle supplement of the Forbes magazine including Forbes Asia are published in 15 local language editions. Fox TV’s show Forbes on Fox and Forbes On Radio weekly air investment advice from Steve Forbes and his magazine writers. The website of Forbes’ magazine was founded in 1996. Recently, Forbes has employed a new slogan- “Information for the World’s Business Leaders” claiming to be the most trusted resource for senior business executives by providing relevant tools, real-time reporting, uncompromising commentary, concise analysis, profit from investing besides having fun with the rewards of winning.