Malcolm Forbes

Malcolm Stevenson Forbes (August 19, 1919 – February 24, 1990) was an American entrepreneur most prominently known as the publisher of Forbes magazine, founded by his father B. C. Forbes. He was known as an avid promoter of capitalism and free market trade, and for an extravagant lifestyle, spending on parties, travel, and his collection of homes, yachts, aircraft, art, motorcycles, and Fabergé eggs.

Life and career

Forbes was born on August 19, 1919 in Brooklyn, New York, the son of Adelaide Mary (Stevenson) and Scottish-born financial journalist and author B. C. Forbes. He graduated from the Lawrenceville School in 1937 and Princeton University. Forbes enlisted in the Army in 1942 and served as a machine gunner in the 84th Infantry Division in Europe, rising to the rank of staff sergeant. Forbes received a thigh wound in combat, and received a Bronze Star and a Purple Heart.

After dabbling in politics, including service in the New Jersey Senate from 1951 to 1957 and candidacy for Governor of New Jersey, he committed to the magazine full-time by 1957, three years after his father's death. After the death of his brother Bruce Charles Forbes in 1964, he acquired sole control of the company.