Steve Forbes Net Worth - Pulptastic

Publish date: 2024-05-14

What Is Steve Forbes’ Net Worth?

Steve Forbes, a prominent American editor, publisher, businessman, author, and politician, has an estimated net worth of $200 million. He is widely recognized for his role as the former editor-in-chief of Forbes, a business magazine, and as the president and chief executive of its publisher, Forbes Inc. Forbes is also known for being the advisor at the Forbes School of Business & Technology and for his appointment as head of the Board of International Broadcasting by President Ronald Reagan in 1985.

In addition to his successful business career, Forbes has also been active in politics. He ran as a Republican candidate in the 1996 and 2000 presidential primaries and even hosted “Saturday Night Live” in 1996. Forbes is also an accomplished author, having published several books, including “The New Birth of Freedom: Vision for America” (1999), “Flat Tax Revolution: Using a Postcard to Abolish the IRS” (2005), “Freedom Manifesto: Why Free Markets Are Moral and Big Government Isn’t” (2012), “Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It” (2014), and “Reviving America: How Repealing Obamacare, Replacing the Tax Code and Reforming The Fed will Restore Hope and Prosperity” (2015).

Steve Forbes Net Worth in 1996

Steve Forbes’ net worth in 1996 was $440 million, as disclosed during his Presidential campaign. The majority of his net worth was attributed to his 35% stake in Forbes Inc., which was valued at $1.16 billion, making his stake worth $406 million. He also owned around $26 million worth of real estate, including a 540-acre property in Bedford, New York, and several million worth of stocks and bonds.

Forbes Inc. Valuation Takes a Hit Over the Years

In 1996, Forbes Inc. was valued at $1.16 billion, but that valuation turned out to be overly optimistic. Over the next decade, the magazine industry suffered, and Forbes was not spared. In 2010, Forbes Inc. sold its world headquarters in Manhattan for an undisclosed amount, likely around $55 million, due to financial struggles caused by the 2009 financial crisis and plummeting magazine sales. By 2013, Forbes had sold a 51% stake in its business at a significantly reduced valuation. A decade later, the brand was worth only $100-200 million and had gone through multiple owners and investors.

Early Life and Education

Steve Forbes was born in Morristown, NJ, in 1947 to Malcolm Forbes and Roberta Remsen. He has four siblings, Robert, Christopher, Timothy, and Moira. After his parents’ divorce in 1985, an article in “OutWeek” magazine alleged that Malcolm Forbes was gay. Forbes grew up in Far Hills, NJ, and attended Far Hills Country Day School and Brooks School, graduating cum laude in 1966. He received an A.B. in history from Princeton University in 1970 and co-founded the magazine “Business Today” while there. Forbes has received honorary degrees from institutions such as the New York Institute of Technology and is a member of the fraternities Tau Kappa Epsilon and Alpha Kappa Psi.

Steve Forbes’ Political Activism

Steve Forbes served as head of the Board of International Broadcasting before getting involved with conservative political advocacy groups. He was the honorary chairman of Americans for Hope, Growth and Opportunity, where he helped Christine Todd Whitman craft her plan to cut 30% in New Jersey income tax over a period of three years. Forbes supported issues such as health savings accounts and free trade, and he opposed same-sex marriage and drug legalization. He became a member of FreedomWorks’ board of directors and served as a member of the National Taxpayers Union’s board of directors and The Heritage Foundation’s board of trustees.

Forbes ran on a campaign of establishing a flat income tax during both the 1996 and 2000 Republican Party presidential primaries. In the 2000 campaign, he announced that he was in support of prayer in public schools and opposed to abortion, which were the opposite of his positions during his 1996 campaign. Forbes later worked as John McCain’s economic adviser when McCain ran for president in 2008. He has appeared on numerous television shows, including “Forbes on Fox,” “Late Night with Conan O’Brien,” “60 Minutes,” “The Tonight Show with Jay Leno,” and “The Daily Show.”

Steve Forbes’ Personal Life and Accidents

Steve Forbes married Sabrina Beekman in 1971 and they have five daughters. Their daughter Moira is a journalist and runs “ForbesWomen,” a magazine that covers women making an impact in business. Steve is a frequent passenger on Amtrak trains and was onboard during the 2016 derailment in Chester, Pennsylvania.

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