Steve Forbes is an American businessman who is the son of Malcolm Forbes, publisher of the famous Forbes magazine. He has carried on the legacy and is the editor in chief of the magazine and also the CEO of Forbes Inc., its publisher. Forbes was selected twice as a presidential candidate for the Republican Party.
Forbes was born on 18th July 1947 in Morristown, New Jersey. He saw wealth throughout his life. He went to Far Hills Country Day School, an elite institution. He graduated from Brooks School in 1966 after which he went to Princeton. He started his first magazine ‘Business Today’ which is now the biggest student run magazine in the world. Steve changed his original name Malcolm S. Forbes Jr. to Steve Forbes after the death of his father in 1996.
During Forbes early political career he was appointed the head of BIB, the Board of International Broadcasting, by President Ronald Reagan. He ran for president twice in 1996 and 2000. To finance his campaign he sold some of voting shares from Forbes Inc. Forbes was far behind the opposing candidates and according to experts his campaigning style was a major reason for his defeat. He raised 86,000,000 dollars in his campaign contributions out of which included his own 37,000,000 dollars. Forbes decided to drop out from the 2000 primary season and returned to managing his magazine and company.
The company launched various new businesses and publications including Forbes Life, Forbes Asia along with Forbes licensee editions that are published in China, Africa, Bulgaria, India, Croatia, Israel, Indonesia, Latvia, Middle East, Poland, Russia, Slovakia, Romania, Ukraine and Turkey. Forbes Media also publishes several investment newsletters. Forbes Investors Advisory Institute is also a division of the company.
Forbes magazine which is the flagship publication has a circulation of over 900,000 and including other licensees a readership of 6 million. Steve Forbes also contributes editorials for every issue himself with a heading of ‘Fact and Comment’. As a writer he has won the Crystal Owl Award four times. He has authored three books as well namely ‘The New Birth of Freedom: Vision for America’, ‘Flat Tax Revolution: Using a Postcard to Abolish the IRS’, ‘Freedom Manifesto: Why Free Markets are Moral and Big Government Isn’t’ and ‘Power Ambition Glory: The Stunning Parallels between Great Leaders of the Ancient World and Today….and the Lessons You can Learn’.
Forbes is a member of the boards of ‘The Ronald Reagan Presidential Foundation’, the ‘Heritage Foundation’ and ‘The Foundation for the Defense of Democracies’. He also serves on the Board of Overseers of the Memorial Sloan-Kettering Cancer Centers’ and the ‘Board of Visitors for the School of Public Policy of Pepperdine University’. He served on the ‘Board of Trustees of the Princeton University’ for ten years. His political endorsements include Rand Paul, Marco Rubio, John McCain, Peter Schiff, Jim Huffman, Mariannette Miller-Meeks, Justin Amash, Bill Hudak and Rick Perry. His net worth is 430 million dollars ranking him amongst the world’s richest people.