forbes#Forbes.com
{{Short description|American business magazine}}
{{Other uses}}
{{Use mdy dates|date=September 2023}}
{{Use American English|date=November 2020}}
{{Infobox magazine
| title = Forbes
| logo = Forbes logo.svg
| image_file = Forbes (magazine) cover.jpg
| image_size = 230px
| image_alt = border
| image_caption = Cover of the issue from December 20, 2010, featuring WikiLeaks founder Julian Assange
| founder = B. C. Forbes
| editor = Steve Forbes
| editor_title = Chairman / Editor-in-chief
| editor2 = Randall Lane{{cite web |publisher=Poynter.org |title=Randall Lane returns to Forbes as editor |first=Jim |last=Romenesko |date=August 9, 2011 |url=http://www.poynter.org/latest-news/mediawire/142283/randall-lane-returns-to-forbes-as-editor/ |url-status = dead|archive-url=https://web.archive.org/web/20140222140925/http://www.poynter.org/latest-news/mediawire/142283/randall-lane-returns-to-forbes-as-editor/ |archive-date=February 22, 2014}}
| editor_title2 = Editor
| staff_writer =
| frequency = Twice quarterly
| total_circulation = 514,184{{Cite web |title=Consumer Magazines |url=http://abcas3.auditedmedia.com/ecirc/magtitlesearch.asp |url-status=dead |archive-url=https://web.archive.org/web/20240731103740/https://abcas3.auditedmedia.com/ecirc/magtitlesearch.asp |publisher=Alliance for Audited Media |archive-date=July 31, 2024}}
| circulation_year = 2023
| publisher = Forbes Media
| category = Business magazine
| company = Integrated Whale Media Investments
| firstdate = {{Start date and age|1917|9|15}}
| country = United States
| based = Jersey City, New Jersey, U.S.
| language = English
| website = {{URL|https://www.forbes.com/|forbes.com}}
| issn = 0015-6914
| oclc = 6465733
}}
Forbes ({{IPAc-en|f|ɔr|b|z}}) is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes.{{cite web |website=Folio |title=Mike Federle Succeeds Mike Perlis As CEO Of Forbes |date=November 30, 2017 |last=Silva |first=Emma |url=http://www.foliomag.com/mike-federle-succeeds-mike-perlis-ceo-forbes-media-people-move/}} The company is headquartered in Jersey City, New Jersey. Sherry Phillips is slated to become the CEO of Forbes effective January 1, 2025.{{Cite web|url=https://www.bizjournals.com/philadelphia/news/2024/12/11/sherry-phillips-named-ceo-forbes-media-main-line.html |title=Forbes Media names Main Line resident and Delco native next CEO |website=Philadelphia Business Journal |date=Dec 11, 2024}}
Published eight times per year, Forbes feature articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, politics, and law. It has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is known for its lists and rankings, including its lists of the richest Americans (the Forbes 400), of 30 notable people under the age of 30, of America's wealthiest celebrities, of the world's top companies (the Forbes Global 2000), of the world's most powerful people, and of the world's billionaires.{{Cite web |url=https://www.thebalancesmb.com/best-business-magazines-4176680 |title=The 8 Best Business Magazines of 2020 |last=Delbridge |first=Emily |date=November 21, 2019 |website=The Balance Small Business |publisher=Dotdash |location=New York City|at=Best for Lists: Forbes |access-date=February 8, 2020}} The motto of Forbes magazine is "Change the World".{{cite web |url=https://www.mediapost.com/publications/article/185898/forbes-launches-new-tagline-brand-campaign.html|title='Forbes' Launches New Tagline, Brand Campaign|first1=Steve|last1=McClellan|date=October 24, 2012 |publisher=MediaPost Communications|access-date=January 24, 2020}}
Company history
File:Former Forbes Headquarters, Manhattan.jpg in New York City, the former headquarters of Forbes in Manhattan (now owned by New York University)]]
{{CSS image crop |Image = Jersey City Day 292 2014 (15554742826).jpg |bSize = 435 |cWidth = 260 |cHeight = 240 |oTop = 85 |oLeft = 0 | Description = Forbes Media headquarters at 499 Washington Blvd, Jersey City since 2014}}
B. C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street,{{cite web|url=http://bizgyan.blogspot.com/2007/07/forbes.html|title=Notes of a Business Quizzer: Forbes|author=Praneeth|date=July 6, 2007|access-date=August 27, 2018}} founded Forbes magazine on September 15, 1917.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 [1375], {{ISBN|978-1-58765-327-8}}{{cite web|title=Media Kit 2013|url=http://www.forbesmedia.com/wp-content/uploads/2013/05/2013-Forbes-Middle-East-English-Media-Kit.pdf|magazine=Forbes Middle East|access-date=September 18, 2014|archive-url=https://web.archive.org/web/20141105210647/http://www.forbesmedia.com/wp-content/uploads/2013/05/2013-Forbes-Middle-East-English-Media-Kit.pdf|archive-date=November 5, 2014|url-status = dead}} 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. Drey became vice-president of the B.C. Forbes Publishing Company,Commerce and Industry Association of New York (November 18, 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 City, [https://books.google.com/books?id=6sZNAAAAMAAJ&pg=RA3-PT593 p. 6], {{OCLC|2447287}} 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 Forbes (1919–1990).
Bruce Forbes took over after his father's death, and his strengths lay in streamlining operations and developing marketing. During his tenure, from 1954 to 1964, the magazine's circulation nearly doubled.
On Bruce's death, his brother Malcolm Forbes became president and chief executive officer of Forbes, and editor-in-chief of Forbes magazine.[http://www.elevation.com/downloads/News_08-07.pdf 'Forbes Announce Elevation Partners Investment in Family Held Company'] {{Webarchive|url=https://web.archive.org/web/20060813150204/http://www.elevation.com/downloads/News_08-07.pdf |date=August 13, 2006 }} Elevation Partners press release, August 6, 2006. Between 1961 and 1999 the magazine was edited by James Michaels.{{cite news |url=https://www.nytimes.com/2007/10/04/business/04michaels.html |title=James Michaels, Longtime Forbes Editor, Dies at 86|access-date=January 5, 2008|work=The New York Times|first=Richard|last=Pérez-Peña|date=October 4, 2007}} In 1993, under Michaels, Forbes was a finalist for the National Magazine Award.{{cite web |url=http://www.magazine.org/asme/magazine_awards/searchable_database/index.aspx |title=National Magazine Awards Database |access-date=January 5, 2008 |archive-url=https://web.archive.org/web/20110526232156/http://www.magazine.org/asme/magazine_awards/searchable_database/index.aspx |archive-date=May 26, 2011 |url-status=dead }} In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now a part.{{cite web |url=http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2006/08/bono_buys_into.html |archive-url=https://web.archive.org/web/20060809233845/http://www.businessweek.com/innovate/NussbaumOnDesign/archives/2006/08/bono_buys_into.html |archive-date=August 9, 2006 |title=NussbaumOnDesign Bono Buys into Forbes, Launches Product Red in US and Expands His Brand |work=Bloomberg BusinessWeek |access-date=January 5, 2008 |url-status=dead}} 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." Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now."{{cite news|url=https://www.nytimes.com/2009/06/15/business/media/15forbes.html|title=Even Forbes is Pinching Pennies|first=David|last=Carr|author-link=David Carr (journalist)|newspaper=The New York Times|date=June 14, 2009|access-date=June 15, 2009|archive-date=April 1, 2012 |archive-url=https://web.archive.org/web/20120401020846/https://www.nytimes.com/2009/06/15/business/media/15forbes.html |url-status=live |url-access=subscription}} It was later revealed that the price had been US$264 million.{{cite news|newspaper=MarketWatch|title=Forbes sold to Asian investors|date=July 19, 2014|last=Trachtenberg|first=Jeffrey A|publisher=Market Watch, Inc.|url=https://www.marketwatch.com/story/forbes-sold-to-asian-investors-2014-07-19|access-date=June 18, 2017|archive-date=July 20, 2014|archive-url=https://web.archive.org/web/20140720002531/https://www.marketwatch.com/story/forbes-sold-to-asian-investors-2014-07-19|url-status=live|url-access=subscription}}
In 2021, Forbes Media reported a return to profit, with revenue increasing by 34 percent to $165 million. Much of the revenue growth was attributed to Forbes' consumer business, which was up 83 percent year-over-year.{{Cite web |last=Norris |first=Ashley |date=2021-12-01 |title=Forbes reports a return to profit in 2021 |url=https://www.fipp.com/news/forbes-reports-a-return-to-profit-in-2021/ |access-date=2024-07-25 |website=FIPP |language=en}} CEO Mike Federle says that Forbes is built on an audience and business scale with 150 million consumers.{{Cite web |date=2022-07-17 |title=Forbes Business Model {{!}} How does Forbes Make Money? |url=https://startuptalky.com/forbes-business-model/ |access-date=2024-07-25 |website=StartupTalky |language=en}}
=Sale of headquarters=
In January 2010, Forbes reached an agreement to sell its headquarters building on Fifth Avenue in Manhattan to New York University; terms of the deal were not publicly reported, but Forbes was to continue to occupy the space under a five-year sale-leaseback arrangement.{{cite web|url=https://archive.nytimes.com/mediadecoder.blogs.nytimes.com/2010/01/07/forbes-sells-building-to-nyu/|title=Forbes Sells Building to N.Y.U.|website=New York Times Media Decoder|date=January 7, 2010|access-date=February 5, 2013}} The company's headquarters moved to the Newport section of downtown Jersey City, New Jersey, in 2014.{{cite web|url=http://www.njtvonline.org/news/video/forbes-moves-across-the-hudson-to-jersey-city/|title=Forbes Moves Across the Hudson to Jersey City|first=Mike|last=Schneider|publisher=WNET – NJTV|date=December 18, 2014|access-date=June 14, 2015}}{{cite news|url=http://www.nj.com/hudson/index.ssf/2014/12/forbes_moving_to_new_jersey_city_offices_monday_report_says.html|title=Forbes moving into Jersey City offices on Monday, report says|newspaper=The Jersey Journal|date=December 11, 2014|access-date=June 14, 2015}}
=Sale to Integrated Whale Media (51% stake)=
In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale.{{cite news | url=https://www.nytimes.com/2013/11/16/business/media/forbes-says-it-is-for-sale.html | title=Forbes Says It Is for Sale|work=The New York Times|date=November 15, 2013|access-date=November 25, 2013|first1= Christine |last1=Haughney |first2=David |last2=Gelles |archive-date=November 16, 2013 |archive-url=https://web.archive.org/web/20131116085241/https://www.nytimes.com/2013/11/16/business/media/forbes-says-it-is-for-sale.html |url-status=live |url-access=subscription}} This was encouraged by minority shareholders Elevation Partners. Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 earnings before interest, taxes, depreciation, and amortization was US$15 million.{{cite web |url= http://www.niemanlab.org/2014/01/the-newsonomics-of-forbes-real-performance-and-price-potential/ |title=The Newsonomics of Forbes' real performance and price potential |publisher=Nieman Lab|first=Ken |last=Doctor|access-date=|date = January 16, 2014}} Forbes reportedly sought a price of US$400 million. In July 2014, the Forbes family bought out Elevation and then Hong Kong-based investment group Integrated Whale Media Investments purchased a 51 percent majority of the company.{{cite press release|url=https://www.forbes.com/sites/forbespr/2014/07/18/forbes-media-agrees-to-sell-majority-stake-to-a-group-of-international-investors-to-accelerate-the-companys-global-growth/ |title=Forbes Media Agrees To Sell Majority Stake to a Group of International Investors To Accelerate The Company's Global Growth|work=Forbes|date=July 18, 2014|access-date=July 24, 2015}}{{cite web|url=http://www.recode.net/2014/7/18/11628980/forbes-sells-to-hong-kong-investment-group |title=Forbes Sells to Hong Kong Investment Group|work=Recode|access-date=August 27, 2018|date=July 18, 2014|archive-url=https://web.archive.org/web/20170124211943/https://www.recode.net/2014/7/18/11628980/forbes-sells-to-hong-kong-investment-group|archive-date=January 24, 2017|url-status=dead}}
In 2017, Isaac Stone Fish, a senior fellow of the Asia Society, wrote in The Washington Post that "Since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence."{{cite news |url=https://www.washingtonpost.com/news/democracy-post/wp/2017/12/14/chinese-ownership-is-raising-questions-about-the-editorial-independence-of-a-major-u-s-magazine/ |title=Chinese ownership is raising questions about the editorial independence of a major U.S. magazine |last=Fish |first=Isaac Stone |date=December 14, 2017 |newspaper=The Washington Post |access-date=November 22, 2020 |archive-url=https://archive.today/20171215035245/https://www.washingtonpost.com/news/democracy-post/wp/2017/12/14/chinese-ownership-is-raising-questions-about-the-editorial-independence-of-a-major-u-s-magazine/ |archive-date=December 15, 2017 |quote=When a Chinese company buys a major American magazine, does the publication censor its coverage of China? There is only one example so far, and the results are discouraging. In 2014, a Hong Kong-based investment group called Integrated Whale Media purchased a majority stake in Forbes Media, one of the United States' best-known media companies. It's hard to demonstrate causality in such cases. But since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence.}}
=Failed SPAC merger and sale=
On August 26, 2021, Forbes announced plans to go public via a merger with a special-purpose acquisition company called Magnum Opus Acquisition, and to trade on the New York Stock Exchange as FRBS.{{cite web |url=https://www.cnbc.com/2021/08/26/forbes-announces-plan-to-go-public-via-spac.html |title=Forbes announces plan to go public via SPAC|last=Burtsztynsky |first=Jessica |date=August 26, 2021 |work=CNBC |access-date=August 26, 2021}} In February 2022, it was announced that Cryptocurrency exchange Binance would acquire a $200 million stake in Forbes as a result of the SPAC flotation.{{Cite news|url=https://www.reuters.com/business/finance/binance-crypto-exchange-take-200-mln-stake-forbes-magazine-cnbc-2022-02-10/|title=Crypto exchange Binance to invest $200 mln in U.S. media firm Forbes|first=Tom|last=Wilson|newspaper=Reuters|date=February 10, 2022 }}{{Cite news|url=https://www.wsj.com/articles/crypto-exchange-binance-to-invest-200-million-in-forbes-11644534040|title=Crypto Exchange Binance to Invest $200 Million in Forbes|first=Alexander|last=Osipovich|newspaper=Wall Street Journal|date=February 10, 2022 }} In June 2022, the company terminated its SPAC merger citing unfavorable market conditions.{{cite news |last=Ramkumar |first=Amrith |date=June 1, 2022 |title=SeatGeek and Forbes Nix SPAC Deals During Market Pullback |url=https://www.wsj.com/articles/seatgeek-and-forbes-nix-spac-deals-during-market-pullback-11654099960 |work=The Wall Street Journal}}
In August 2022, the company announced that it was exploring a sale of its business.{{cite news |last1=Mullin |first1=Benjamin |last2=Hirsch |first2=Lauren |date=August 2, 2022 |title=Forbes Explores Sale After SPAC Deal Collapses |url=https://www.nytimes.com/2022/08/02/business/media/forbes-sale-spac.html |work=The New York Times}} In May 2023, it was announced that billionaire Austin Russell, founder of Luminar Technologies, agreed to acquire an 82{{nbsp}}percent stake in a deal valuing the company at $800{{nbsp}}million. His majority ownership was to include the remaining portion of the company owned by the Forbes family which was not previously sold to Integrated Whale Media.{{Cite news |date=May 12, 2023 |title=Forbes to be acquired by Luminar Technologies' Austin Russell |work=Axios |url=https://www.axios.com/2023/05/12/forbes-acquired-luminar-technologies-austin-russell |access-date=December 22, 2023}}{{cite news |last=Bruell |first=Alexandra |date=May 12, 2023 |title=Automotive Tech Billionaire Austin Russell to Acquire Majority Stake in Forbes |url=https://www.wsj.com/articles/automotive-tech-billionaire-austin-russell-to-acquire-majority-stake-in-forbes-83dbb3be |work=The Wall Street Journal}} The transaction attracted scrutiny by the Committee on Foreign Investment in the United States. Russell denied reports that Russian businessman Magomed Musaev was involved in the transaction.{{Cite news |date=October 20, 2023 |title=Russian tycoon claims he is behind Forbes purchase, audiotapes show |newspaper=The Washington Post |url=https://www.washingtonpost.com/business/2023/10/20/forbes-sale-musaev-russia/ |access-date=October 22, 2023}} In November 2023, the deal collapsed, as Russell was unable to put together the necessary funds.{{cite web |last=Fischer |first=Sara |date=November 21, 2023 |title=Forbes deal dead as Austin Russell fails to raise cash by deadline |url=https://www.axios.com/2023/11/21/forbes-deal-dead-austin-russell |website=Axios}}
Other publications
Apart from Forbes and its lifestyle supplement, Forbes Life, the magazine has 42 international editions covering 69 countries:{{Cite web |title=DocSend - Simple, intelligent, modern content sending |url=https://forbes.docsend.com/view/nxewsnzd97g7zi25 |access-date=2024-10-30 |website=DocSend |language=en}}
{{Div col|colwidth=12em}}
- Forbes Africa
- Forbes Afrique (Francophone Africa)
- Forbes África Lusófona (Lusophone Africa)
- Forbes Argentina
- Forbes Australia
- Forbes Austria
- Forbes Belgium
- Forbes Brazil
- Forbes Bulgaria
- Forbes Central America
- Forbes Chile
- Forbes China
- Forbes Colombia
- Forbes Cyprus
- Forbes Czech Republic
- Forbes Dominican Republic
- Forbes Ecuador
- Forbes En Español
- Forbes España (Spain)
- Forbes France
- Forbes Georgia
- Forbes Greece
- Forbes Hungary
- Forbes India
- Forbes Israel
- Forbes Italy
- Forbes Japan
- Forbes Kazakhstan
- Forbes Korea
- Forbes Mexico
- Forbes Middle East
- Forbes Paraguay{{Cite web |date=May 2, 2024 |title=Forbes anuncia su llegada a Paraguay |trans-title=Forbes announces its arrival in Paraguay |url=https://www.ultimahora.com/forbes-anuncia-su-llegada-a-paraguay |url-status=live |archive-url=https://web.archive.org/web/20240503082750/https://www.ultimahora.com/forbes-anuncia-su-llegada-a-paraguay |archive-date=May 3, 2024 |access-date=August 2, 2024 |website=Última Hora |language=es}}
- Forbes Peru
- Forbes Poland
- Forbes Portugal
- Forbes Romania
- Forbes Slovensko (Slovakia)
- Forbes Srbija (Serbia)
- Forbes Switzerland
- Forbes Thailand
- Forbes Ukraine
- Forbes Uruguay
- Forbes Vietnam
{{Div col end}}
= Ceased publication =
{{Div col|colwidth=12em}}
- Forbes Baltics
- Forbes Estonia
- Forbes Indonesia
- Forbes Latvia
- Forbes Lithuania
- Forbes Monaco
- Forbes Russia
{{Div col end}}
Chairman / Editor-in-chief 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, that year the company began publishing ForbesWoman, a quarterly magazine published by Steve Forbes's daughter, Moira Forbes, with a companion Web site.
The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007.{{Cite web |url=http://www.minonline.com/min/4549.html |title=With The May 14 Announced Separation: Twelve-Year-Old "American Legacy"/"Forbes" Partnership Was Mutually Beneficial |access-date=September 1, 2014 |archive-url=https://web.archive.org/web/20140903140410/http://www.minonline.com/min/4549.html |archive-date=September 3, 2014 |url-status = dead }}
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 17, 2007.{{cite news| url=https://www.nytimes.com/2007/05/17/arts/17heri.html|work=The New York Times|first=Charles|last=McGrath|title=Magazine Suspends Its Run in History| date=May 17, 2007}} Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008.{{cite web|url=http://www.americanheritage.com/events/articles/web/20080204-ThankYou.shtml |title=Thank You for Your Feedback on the American Heritage Winter 2008 Issue |work=American Heritage |archive-url=https://web.archive.org/web/20101230034738/http://www.americanheritage.com/events/articles/web/20080204-ThankYou.shtml|archive-date=December 30, 2010}} Forbes has published the Forbes Travel Guide since 2009.{{Cite web |last=Powell |first=Laura |date=2018-04-24 |title=An Inside Look at the Forbes Travel Guide |url=https://skift.com/2018/04/24/an-inside-look-at-the-forbes-travel-guide/ |access-date=2024-07-25 |website=Skift |language=en-US}}
In 2013, Forbes licensed its brand to Ashford University, and assisted with the launch of the Forbes School of Business & Technology.{{Cite web|url=https://www.uagc.edu/forbes-school-of-business-and-technology/board-of-advisors|title=Forbes School of Business & Technology Board of Advisors |publisher=University of Arizona Global Campus|access-date=April 22, 2021}} CEO Mike Federle justified the licensing in 2018, stating that "Our licensing business is almost a pure-profit business, because it's an annual annuity."{{Cite web|url=https://digiday.com/media/with-revenue-rising-forbes-is-looking-to-invest-in-or-buy-media-and-tech-companies/|title=Amid media doom and gloom, Forbes says revenue was up and profits highest in a decade|last=Patel|first=Sahil|date=December 21, 2018|website=Digiday|access-date=May 12, 2019}} Forbes would launch limited promotions for the school in limited issues. Forbes has never formally endorsed the school.
On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within the app.{{cite news | url= https://www.forbes.com/sites/forbespr/2014/01/06/forbes-is-the-first-magazine-to-launch-its-own-social-network-with-stream/ |title= Forbes Is The First Magazine To Launch Its Own Social Network With "Stream" |work=Forbes|date=January 6, 2014 |url-status=live |archive-url=https://web.archive.org/web/20231007025424/https://www.forbes.com/sites/forbespr/2014/01/06/forbes-is-the-first-magazine-to-launch-its-own-social-network-with-stream/?sh=4e2ec91662b0 |archive-date= Oct 7, 2023 }}
Forbes.com
David Churbuck founded Forbes{{'}}s web site in 1996. The site uncovered Stephen Glass's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism.{{Cite magazine |title=Hello, My Name Is Stephen Glass, and I'm Sorry |url=https://newrepublic.com/article/120145/stephen-glass-new-republic-scandal-still-haunts-his-law-career |access-date=2024-05-16 |magazine=The New Republic |issn=0028-6583}} 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 Toyota's cars gone bad. The website (like the magazine) publishes lists focusing on billionaires and their possessions, especially real estate.{{cite web |url=http://www.gawker.com/news/jobs/motley-to-leave-time-inc-plus-more-jobhopping-fun-162725.php |title=Jobs: Motley to Leave Time Inc., Plus More Job-Hopping Fun |work=Gawker |access-date=January 5, 2008 |url-status = dead|archive-url=https://web.archive.org/web/20080218092904/http://gawker.com/news/jobs/motley-to-leave-time-inc-plus-more-jobhopping-fun-162725.php |archive-date=February 18, 2008 }}{{Cite web |last=Tognini |first=Giacomo |title=The Richest Real Estate Billionaires In America 2023 |url=https://www.forbes.com/sites/giacomotognini/2023/10/04/the-richest-real-estate-billionaires-in-america-2023/ |access-date=2024-07-25 |website=Forbes |language=en}}
Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics. Together these sites reach more than 27 million unique visitors each month. Forbes.com employs the slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site.{{cite news|url=https://www.nytimes.com/2006/08/28/technology/28forbes.html |url-access=subscription |title=At Forbes.com, Lots of Glitter but Maybe Not So Many Visitors|first=Peter|last=Edmonston|date=August 28, 2006|work=The New York Times|access-date=May 2, 2011 |url-status=live |archive-url=https://web.archive.org/web/20121116105748/https://www.nytimes.com/2006/08/28/technology/28forbes.html |archive-date= Nov 16, 2012 }} 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".
Forbes.com uses a contributor network in which a wide network of freelancers ("contributors") writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$100,000, according to the company.{{cite web |last=Bartlett |first=Rachel |title=The Forbes contributor model: Technology, feedback and incentives |url=http://www.journalism.co.uk/news/the-forbes-contributor-model-technology-feedback-and-incentives/s2/a554255/ |publisher=journalism.co.uk |access-date=October 13, 2013|date=September 26, 2013 }} The contributor system has been criticized for enabling "pay-to-play journalism" and the repackaging of public relations material as news. Forbes currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue.{{cite news|title=Forbes gives advertisers an editorial voice |publisher=emedia |url=http://www.emediavitals.com/content/forbes-gives-advertisers-editorial-voice |archive-url=https://web.archive.org/web/20131109153816/http://www.emediavitals.com/content/forbes-gives-advertisers-editorial-voice |archive-date=November 9, 2013}} In July 2018, Forbes deleted an article by a contributor who argued that libraries should be closed, and Amazon should open bookstores in their place.{{cite web|url= https://www.fastcompany.com/90206661/forbes-seems-to-have-deleted-its-controversial-article-about-amazon-replacing-libraries|title=Forbes deleted its controversial article about Amazon replacing libraries|first=Cale |last=Weissman |date=July 23, 2018|work=Fast Company}}
As of 2019, the company published 100 articles each day, produced by 3,000 outside contributors who were paid little or nothing.{{cite web |title=Jeffrey Epstein pushed a new narrative; these sites published it |first=Tiffany |last=Hsu |date=July 19, 2019 |work=The New York Times |url=https://www.nytimes.com/2019/07/21/business/media/jeffrey-epstein-media.html |access-date=August 22, 2023 |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20230907032420/https://www.nytimes.com/2019/07/21/business/media/jeffrey-epstein-media.html |archive-date= Sep 7, 2023 }} This business model, in place since 2010,{{cite web |url=https://www.poynter.org/reporting-editing/2012/what-the-forbes-model-of-contributed-content-means-for-journalism/ |title=What the Forbes model of contributed content means for journalism |work=Poynter |last=Sonderman |first=Jeff |date=May 29, 2012 |access-date=August 22, 2023}} "changed their reputation from being a respectable business publication to a content farm", according to Damon Kiesow, the Knight Chair in digital editing and producing at the University of Missouri School of Journalism. Similarly, Harvard University's Nieman Lab deemed Forbes "a platform for scams, grift, and bad journalism" as of 2022.{{cite web |title=An incomplete history of Forbes.com as a platform for scams, grift, and bad journalism |author-link=Joshua Benton |last=Benton |first=Joshua |date=February 9, 2022 |work=Nieman Lab|url=https://www.niemanlab.org/2022/02/an-incomplete-history-of-forbes-com-as-a-platform-for-scams-grift-and-bad-journalism/ |access-date=August 22, 2023}}
In 2017, the website blocked internet users using ad blocking software from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access was granted.{{cite web |first=Jason |last=Bloomberg |title=Ad Blocking Battle Drives Disruptive Innovation |url=https://www.forbes.com/sites/jasonbloomberg/2017/02/18/ad-blocking-battle-drives-disruptive-innovation/ |work=Forbes |access-date=April 14, 2017}} Forbes argued that this is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from the Forbes site.{{cite web |last1=Hruska |first1=Joel |title=Forbes forces readers to turn off ad blockers, promptly serves malware |url=https://www.extremetech.com/internet/220696-forbes-forces-readers-to-turn-off-ad-blockers-promptly-serves-malware |publisher=Extreme Tech |access-date=April 14, 2017}}
Forbes won the 2020 Webby People's Voice Award for Business Blog/Website.{{cite web |last1=Kastrenakes |first1=Jacob |title=Here are all the winners of the 2020 Webby Awards |url=https://www.theverge.com/2020/5/20/21263445/2020-webby-awards-winners-lil-nas-x-nasa-jon-krasinski |website=The Verge |access-date=May 22, 2020 |language=en |date=May 20, 2020}}
Forbes8
In November 2019, Forbes launched a streaming platform Forbes8, highlighting notable entrepreneurs and sharing business tips.{{Cite web |title=Forbes8 |url=https://www.inc.com/profile/forbes8 |website=Inc.}}{{Cite web|last=Releases|first=Forbes Press|title=Forbes8, Forbes' On-Demand Video Network For Entrepreneurs, Debuts New Slate Of Original Content|url=https://www.forbes.com/sites/forbespr/2020/02/20/forbes8-forbes-on-demand-video-network-for-entrepreneurs-debuts-new-slate-of-original-content/|access-date=August 5, 2020|website=Forbes|language=en}}{{Cite web|last=Kene-Okafor|first=Tage|date=May 25, 2020|title=Forbes8 launches digital startup accelerator, calls for applications|url=https://techpoint.africa/2020/05/25/forbes8-digital-startup-accelerator/|access-date=August 5, 2020|website=Techpoint Africa}} In 2020, the network announced the release of several documentary series including Forbes Rap Mentors, Driven Against the Odds, Indie Nation and Titans on the Rocks.{{Cite web|date=October 23, 2019|title=Forbes8 Original Series: 6 icons of entrepreneurship show you how to become your own boss|url=https://gritdaily.com/forbes8-launches-6-original-series/|access-date=August 5, 2020|website=Grit Daily News}}{{cite web |url=https://councils.forbes.com/ |title=Forbes Councils |work=Forbes |access-date=February 9, 2022}}
See also
References
{{Reflist}}
Further reading
- {{Cite web |last=Benton |first=Joshua |date=February 9, 2022 |title=An incomplete history of Forbes.com as a platform for scams, grift, and bad journalism |website=Nieman Journalism Lab |url=https://www.niemanlab.org/2022/02/an-incomplete-history-of-forbes-com-as-a-platform-for-scams-grift-and-bad-journalism/}}
- {{Cite book |last=Forbes |first=Malcolm S. |date=1973 |title=Fact & Comment |publisher=Knopf |location=New York |isbn=0-394-49187-4 |ol=21359357M}} Twenty-five years of the editor's columns from Forbes
- {{Cite book |last=Grunwald |first=Edgar A. |date=1988 |title=The Business Press Editor |publisher=New York University Press |location=New York |isbn=0-8147-3016-7 |ol=2403966M}}
- {{Cite book |editor1-last=Kohlmeier |editor1-first=Louis M. |editor2-last=Udell |editor2-first=Jon G. |editor3-last=Anderson |editor3-first=Laird B. |date=1981 |title=Reporting on Business and the Economy |publisher=Prentice-Hall |location=Englewood Cliffs, New Jersey |isbn=0-13-773879-X |ol=4114694M}}
- {{Cite book |last=Kurtz |first=Howard |date=2000 |title=The Fortune Tellers: Inside Wall Street's Game of Money, Media, and Manipulation |publisher=Free Press |location=New York |isbn=0-684-86879-2 |ol=6786674M}}
- {{Cite web |last=Merid |first=Fevin |date=August 10, 2023 |title=Big Business: The disarray and discontent at Forbes |website=Columbia Journalism Review |url=https://www.cjr.org/the_feature/forbes-big-business.php}}
- {{Cite book |last=Parsons |first=D. W. |date=1989 |title=The Power of the Financial Press: Journalism and Economic Opinion in Britain and America |publisher=Rutgers University Press |location=New Jersey |isbn=0-8135-1497-5 |ol=2217704M}}
- {{cite book |last=Pinkerson |first=Stewart |year=2011 |title=The Fall of the House of Forbes: The Inside Story of the Collapse of a Media Empire |url=https://archive.org/details/fallofhouseoffor0000pink |location=New York City |publisher=St. Martin's Press |isbn=978-0312658595 |url-access=registration}}
- {{Cite book |author1-link=John William Tebbel |last1=Tebbel |first1=John William |last2=Zuckerman |first2=Mary Ellen |date=1991 |title=The Magazine in America, 1741–1990 |publisher=Oxford University Press |location=New York |isbn=0-19-505127-0}}
External links
{{Commons}}
- {{Official website}}
{{Forbes Magazine Lists}}
{{Authority control}}
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Category:Business magazines published in the United States
Category:Biweekly magazines published in the United States
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