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Steve Forbes | |
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_(cropped).jpg) Forbes in 2024 | |
| Born | Malcolm Stevenson Forbes Jr. (1947-07-18)July 18, 1947 (age 77) Morristown, New Jersey, U.S. |
| Education | Princeton University (AB) |
| Political party | Republican |
| Spouse | |
| Children | 5, includingMoira |
| Father | Malcolm Forbes |
| Relatives | B. C. Forbes (grandfather) |
| Family | Forbes |
| Signature | |
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Malcolm StevensonForbes Jr. (/fɔːrbz/; born July 18, 1947)[1] is an American publishing executive and politician who is theeditor-in-chief ofForbes, a business magazine. He is the son of longtimeForbes publisherMalcolm Forbes and the grandson of that publication's founderB.C. Forbes. He is an adviser at theForbes School of Business & Technology.[2] Forbes was a candidate in the1996[3] and2000 Republican presidential primaries. He was also appointed chairman of theBoard for International Broadcasting (BIB) in 1985, and was reappointed again in 1993.[4]
Forbes was born inMorristown, New Jersey, to Roberta Remsen (née Laidlaw) andMalcolm Forbes.[5][6] Forbes grew up inFar Hills, New Jersey. He attended theFar Hills Country Day School with his longtime friend and futureGovernor of New JerseyChristine Todd Whitman. He graduatedcum laude fromBrooks School inNorth Andover, Massachusetts, in 1966.
Forbes graduated with an A.B. in history fromPrinceton University in 1970 after completing a 75-page long senior thesis titled "Contest for the 1892 Democratic Presidential Nomination."[7][8] 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.[9] Forbes is a member ofAlpha Kappa Psi andTau Kappa Epsilon.[10] He holds honorary degrees from several universities, including theNew York Institute of Technology andLehigh University.[11]
In 1985, PresidentRonald Reagan appointed Forbes as head of theBoard of International Broadcasting (BIB), which historically managed the operation ofRadio Free Europe/Radio Liberty. Reagan's successor,George H. W. Bush reappointed Forbes to the position. Forbes would continue to serve as the BIB's leader until 1993, following the inauguration ofBill Clinton.[12]
Following his career as the BIB's head, Forbes went on to get involved in variousconservative politicaladvocacy groups. From 1993 to 1996, Forbes was the chairman of the Board of Directors of "Empower America", which later merged with the advocacy groupFreedomWorks.[12] Through "Empower America", Forbes became associates with prominent conservative politicianJack Kemp, who would go on to endorse Forbes during the1996 Republican Party presidential primaries.[13] From 1996 to 1999, Forbes also served as honorary chairman of the advocacy group "Americans for Hope, Growth and Opportunity", described as "a grassroots, issues-advocacy organization founded to advance pro-growth, pro-freedom and pro-family issues."[12]
Forbes helped craftChristine Todd Whitman's[14] plan for a 30% cut in New Jersey'sincome tax over three years, and this plan proved to be a major factor in her victory over incumbent GovernorJames Florio.[15][16] Despite Forbes and Whitman being childhood friends, Forbes would later distance himself from Whitman during his bid for the Republican nomination in 2000 owing to Whitman'spro-choice stance onabortion.[17]
Forbes entered theRepublican primaries forPresident of the United States in1996 and2000, primarily running on a campaign to establish aflat income tax (Forbes's emphasis on the flat tax proposal was so heavy that he was described as a "single-issue candidate", a label he claimed was inaccurate[18]). Forbes believed the American taxation system had become too Byzantine and bureaucratic and was in desperate need of reform and simplification.[19] Forbes also supported the ideas of reintroducing 4.5%mortgages andterm limits in 1996; however, he dropped both in 2000, as they were minor planks in his overall platform.[citation needed]
When Forbes ran for president in1996 and2000, he sold some of his Forbes, Inc. voting shares to other family members to help finance his run. Forbes did not come close to securing theRepublican nomination, despite winning the Arizona and Delaware primaries in 1996 and getting some significant shares of the vote in other primaries. Forbes's "awkward" campaigning style was considered to be a major factor in his defeat.[20]Time Magazine called his stumping a "comedy-club impression of what would happen if some mad scientist decided to construct a dork robot."[20]Jeff Lyon ofThe Chicago Tribune wrote of Forbes on the campaign trail, "[Forbes] resembles the classicmilquetoast, with a prissy smile, gold-rimmed glasses that make his eyes look smaller, and a stiff way of presenting himself when he works a crowd. He has a cornball style and usespreppie slang like 'get real' and 'el zippo' (meaning zero) in speeches."[21] Forbes and his campaign staff were known for travelling between campaign stops via their "big silver bus."[22][23] For his 2000 presidential campaign, he raised $86,000,000 in campaign contributions, of which $37,000,000 was self-donated.[24]
After dropping out early in the 2000 primary season, Forbes returned to heading the magazine and company. During the 1996 campaign, insiders atFortune alleged that stories about Forbes's advertisers became favorably biased toward them.[25]
Major issues Forbes has supported includefree trade,health savings accounts, and allowing people to opt out 75% ofSocial Securitypayroll taxes into personal retirement accounts (PRAs). Forbes supports traditionalRepublican Party policies such as downsizing government agencies to balance the budget, tough crime laws, support for thedeath penalty, andschool vouchers. Forbes opposesgun control and most government regulation of the environment, as well asdrug legalization andsame-sex marriage,[26] in spite of his father being gay.[27] In terms offoreign policy, he called for a "US notUN foreign policy" (which is composed of anti-International Monetary Fund sentiments, pro-Israeli sentiment, opposition toMost Favored Nation status for thePeople's Republic of China, and anti-UN sentiment.)
Forbes's flat-tax plan has changed slightly. In 1996, Forbes supported a flat tax of 17% on all personal and corporate earned income (unearned income such ascapital gains,pensions,inheritance, andsavings would be exempt). However, Forbes supported keeping the first $33,000 of income exempt. In 2000, Forbes maintained the same plan; however, instead of each person receiving an exemption of $33,000, it more closely resembled the Armey Plan (Forbes's version called for a $13,000-per-adult and $5,000-per-dependent deduction). Forbes is very wealthy, with anet worth in 1996 of $430 million.[3] In response to this criticism, Forbes promised in his 2000 campaign to exempt himself from the benefits of the flat tax, although he did support the repeal of the16th Amendment in a debate withAlan Keyes the previous year.
In his 2000 campaign, Forbes professed his support forsocial conservatism along with hissupply-side economics. Despite holding opposite positions in 1996, for the 2000 campaign Forbes announced he was adamantly opposed toabortion and supportedprayer inpublic schools. The previous year Forbes had issued a statement saying he would no longer donate money toPrinceton University because of its hiring of philosopherPeter Singer, who views personhood as being limited to 'sentient' beings and therefore considers some disabled people and all infants to lack this status. Steve Forbes was one of the signers of the Statement of Principles ofProject for the New American Century (PNAC) on June 3, 1997.
In 1996, Forbes campaigned on behalf ofRon Paul in the congressional election forTexas's 14th congressional district.[28]
ActorMark McKinney played Steve Forbes on the comedy television showSaturday Night Live, a program known for featuringpolitical satire. In an episode which aired on March 16, 1996—shortly after Forbes dropped out of the 1996 presidential race—McKinney played Forbes in askit in which Forbes purchases land inRussia to found his own country, called "Forbes America".[29] Forbes himself hosted an episode ofSaturday Night Live that aired on April 13, 1996. The episode featured a skit in which Forbes earnestly wishes to answer the questions of potential voters, but all the questions he receives instead have to do with his enormous personal wealth (for example, with regards to thethen ongoing war in Bosnia, Forbes is asked by an audience member, "Why don't you just buy Bosnia and tell all those people over there that if they don't stop fighting you'll just, you know, throw them the hell out?").[30] On that same episode, Forbes starred in a skit, playing aroofer, the comedy deriving from Forbes's character being a toughblue collar worker, a personality which clashes with Forbes'snerdy, intellectual demeanor and appearance.[31] The episode also featured a skit where the real Forbes interviewed hisSNL counterpart, played by McKinney.[32]
In December 2006, Forbes joined the Board of Directors of the advocacy organizationFreedomWorks. Forbes is also on the board of directors of theNational Taxpayers Union. Forbes is also a member of the board of trustees ofThe Heritage Foundation, an influentialWashington, D.C.–based public policy research institute.[33] Forbes is a frequent panelist on thetelevision programForbes on Fox, which also features members of theForbes magazine staff and is shown Saturday mornings onFox News Channel at 11:00 a.m.EST.
On March 28, 2007, Forbes joinedRudy Giuliani'scampaign for the2008 presidential election, serving as a National Co-Chair and Senior Policy Advisor. Later in the 2008 presidential campaign, Forbes served asJohn McCain's economic adviser on taxes, energy and the budget during McCain's bid for the 2008 presidential election.[34]
In March 2013, Forbes participated in anNPR broadcastIntelligence Squared debate with James Grant,Frederic Mishkin and John R. Taylor Jr. concerning the motion "Does America Need A Strong Dollar Policy?".[35]
Forbes endorsedDonald Trump in the2016 United States presidential election.[36]
In 1971, he married Sabina Beekman. They have five daughters, includingMoira Forbes.[37] Forbes appeared alongside his family onLarry King Live during his 1996 presidential campaign.[38] Forbes has been a resident ofBedminster, New Jersey.[39]
Forbes ridesAmtrak trains and was a passenger on board the2016 Chester, Pennsylvania, train derailment.[40][41]
Publisher Steve Forbes in 1947 (age 72)
