In 1957 Malcolm Forbes became editor and publisher of “Forbes”, the magazine his father, B.C. Forbes, had founded 40 years earlier. He took the floundering publication and made it a huge editorial and commercial success. The magazine is especially well known for its annual list of the 400 wealthiest Americans, the Forbes 400. Both the magazine and the publisher’s family have a long tradition of supporting free-market economic policies. “Forbes” is now edited by Malcolm’s son, Steve, who made an unsuccessful attempt to become the Republican candidate for president of the United States in 1996.
Malcolm Forbes graduated from Princeton University in 1941. He received a Bronze Star and a Purple Heart for his bravery at the Battle of Aachen in World War II. He was the Republican candidate for Governor of New Jersey but lost the 1957 contest to Democrat Robert Meyner. Forbes was known for his colorful hobbies, which included motorcycle riding and hot air ballooning. He had an opulent lifestyle, threw lavish parties, and collected rarities like Faberge eggs. He and his wife Roberta had five children.