Malcolm Forbes

Malcolm Forbes was an American entrepreneur and publisher who transformed the business magazine founded by his father into a global media empire. As the longtime editor-in-chief of Forbes, he became a prominent symbol of capitalist success and flamboyant living in the late 20th century. His tenure was marked by aggressive expansion, a distinctive editorial voice, and the cultivation of the Forbes 400 list of wealthiest Americans. Beyond publishing, he was known for his political involvement, extensive art collecting, and lavish hobbies which cemented his public persona.

Early life and education

He was born in Brooklyn to B. C. Forbes, a financial journalist from Scotland who founded Forbes magazine, and Adelaide Stevenson Forbes. He attended the Lawrenceville School in New Jersey before enrolling at Princeton University. His time at Princeton University was interrupted by service as a machine gunner with the United States Army's 84th Infantry Division during World War II, where he was awarded the Bronze Star Medal for his actions in Europe. After the war, he returned to Princeton University and graduated in 1941 with a degree in political science.

Business career and Forbes magazine

Following his father's death in 1954, he and his brother Bruce Forbes assumed control of Forbes Inc., with his brother initially serving as president. Upon Bruce Forbes's death in 1964, he took full leadership, becoming president and editor-in-chief. He dramatically expanded the company's reach, launching international editions and pioneering the Forbes 400 list in 1982, which became a cultural benchmark. He also acquired significant assets like Forbes Castle on Fiji's Laucala island and the historic *Highlander* yacht. His hands-on management and penchant for provocative covers and headlines, often penned himself, defined the magazine's voice during the 1980s boom.

Political activities and views

He was an active member of the Republican Party and sought political office early in his career, serving in the New Jersey Senate from 1951 to 1957. He ran unsuccessfully for Governor of New Jersey in 1957. A staunch advocate for capitalism and free enterprise, he used the platform of Forbes to promote his economic views, coining the slogan "Capitalist Tool." He maintained relationships with prominent figures like President Ronald Reagan and was considered for the role of Ambassador to the Court of St. James's. His political efforts also included hosting lavish parties for politicians at his properties in New Jersey and Morocco.

Personal life and hobbies

His personal life was characterized by extravagant displays of wealth and a pursuit of adventurous hobbies. He married Roberta Remsen Laidlaw in 1946, with whom he had five children, including future publisher Steve Forbes; they divorced in 1985. He was an avid motorcyclist, leading large cross-country tours dubbed the "Capitalist Tool" rallies. His passion for hot-air ballooning made him a licensed balloonist, and he set several records, including the first trans-United States balloon flight. He amassed renowned collections of Fabergé eggs, Toy soldiers, and Harley-Davidson motorcycles, often displayed at his Far Hills, New Jersey estate, Timberfield. His 70th birthday party in Morocco, featuring performances by Casablanca-era celebrities, became legendary for its opulence.

Death and legacy

He died of a heart attack at his home in Far Hills, New Jersey in 1990. Control of Forbes Inc. passed to his son Steve Forbes, who later became a presidential candidate. His legacy is that of a consummate showman who leveraged his personality to build a media brand, championing entrepreneurship and the accumulation of wealth. The Forbes 400 list and the magazine's focus on wealth measurement remain central to its identity. His collections and his iconic 151-foot yacht, the *Highlander*, were later sold, but his impact on business journalism and the culture of American capitalism endures.

Category:American magazine publishers Category:American businesspeople Category:1919 births Category:1990 deaths