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Malcolm Stevenson “Steve” Forbes Jr. born July 18, 1947 is an American publishing executive, who was twice a candidate for the nomination of the Republican Party for President of the United States. Forbes is the Editor-in-Chief of Forbes, a business magazine. Forbes was a Republican candidate in the 1996 and 2000 Presidential primaries. Forbes is the son of longtime Forbes publisher Malcolm Forbes, and the grandson of that publication’s founder, B.C. Forbes. Steve changed his original name Malcolm S. Forbes Jr. to Steve Forbes after the death of his father in 1996. He is an adviser at the Forbes School of Business & Technology. According to Forbes, his net worth is estimated at $430 million as of 2017, ranking him amongst the world’s richest people.
Forbes was born in Morristown, New Jersey, to Roberta Remsen and Malcolm Forbes. Forbes grew up wealthy in the town of Far Hills, New Jersey. Forbes attended the prestigious Far Hills Country Day School. In 1966, Forbes graduated “cum laude” from Brooks School in North Andover, Massachusetts, and from Princeton University, New Jersey, in 1970. While at Princeton, Forbes founded his first magazine, Business Today, with two other students. Business Today is currently the largest student-run magazine in the world. Forbes is a member of Alpha Kappa Psi and Tau Kappa Epsilon. He holds honorary degrees from several universities, including New York Institute of Technology and Lehigh University.In 1985 during Forbes early political career, President Ronald Reagan appointed Forbes as head of the Board of International Broadcasting (BIB), Radio Free Europe/Radio Liberty Forbes helped craft Christine Todd Whitman’s plan for a thirty percent cut in New Jersey’s income tax over three years, and this plan proved to be a major factor in her victory over incumbent Governor James Florio.
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.In 1971, he married Sabina Beekman. They have five daughters.