Forbes is an American publishing and media company. Its flagship publication, Forbes magazine, is published bi-weekly. Its primary competitors in the national business magazine category are Fortune, which is also published bi-weekly, 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."

Company history

thumb B.C. Forbes, a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street,"Notes of a Business Quizzer: Forbes" (6 July 2007) founded Forbes magazine in 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, p. 1375, ISBN 978-1-58765-327-8 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 BC Forbes Publishing Company, 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. During his tenure, 1954-1964, the magazine's circulation nearly doubled. Although credit for increased circulation must also be given to the magazine's increased outspokenness on the part of investors.

When Malcolm Forbes took over, he had a more hands-off approach on operations, but did provide two strategic initiatives that changed Forbes forever. He instituted a professional editorial staff, instead of the previous heavy reliance on freelancers, and he started the first of the rankings articles for which Forbes became famous.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. 1376, ISBN 978-1-58765-327-8

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. Between 1961 and 1999 the magazine was edited by James Michaels. In 1993, under Michaels, Forbes was a finalist for the National Magazine Award. In 2006, an investment group that includes rock star Bono bought a minority interest in the company.