Steve Forbes Net Worth: How Does He Make Money as a Politician?
This article investigates the age, marital status, family life, and wealth of the well-known American publishing entrepreneur Steve Forbes.
Also discussed are his accomplishments in the field. To acquire further knowledge, make sure you finish reading the conclusion.
According to the website Celebritynetworth, Steve Forbes is an American editor, publisher, and businessman who has a net worth of $430 million.
Who Exactly is Steve Forbes?
Malcolm Stevenson Forbes Jr. is a publishing executive and politician who serves as the editor-in-chief of the business journal Forbes.
He is the son of Malcolm Forbes, who has been the publisher of Forbes for a long time, and the grandson of B.C. Forbes, who founded the publication.
He is a consultant at the Forbes School of Business & Technology. Forbes ran for the Republican presidential nomination in the 1996 and 2000 primaries.
|July 18, 1947
Steve Forbes Early Life and Education
Forbes attended Far Hills Country Day School with his close friend and possibly New Jersey governor, Christine Todd Whitman. Brooks School in North Andover, Massachusetts, awarded him his cum laude diploma in 1966.
He graduated from Princeton University in 1970 with an A.B. in history after completing a 75-page final thesis titled “Contest for the 1892 Democratic Presidential Nomination.”
Forbes founded his first publication, Business Today, with two other Princeton students. Business Today is the world’s largest student-run publication at present.
Forbes is a member of Tau Kappa Epsilon and Alpha Kappa Psi. Several universities, including Lehigh University and the New York Institute of Technology, have bestowed him with honorary doctorates.
Steve Forbes Early Political Career
President Ronald Reagan appointed Forbes to oversee the Board of International Broadcasting (BIB), which led the management of Radio Free Europe/Radio Liberty in 1985.
Forbes was reappointed to the position by Reagan’s successor, George H. W. Bush. Forbes would continue to head the BIB after Bill Clinton’s inauguration until 1993.
Christine Todd Whitman’s proposal for a 30% reduction in New Jersey’s income tax over three years was prepared with Forbes’ aid. It ultimately played a crucial part in her victory over incumbent governor James Florio.
Despite knowing each other since they were children, Forbes eventually distanced himself from Whitman when he competed for the Republican nomination in 2000 due to Whitman’s pro-choice beliefs on abortion.
Steve Forbes Campaigns for President
In 1996 and 2000, Forbes ran for president on a platform of a flat income tax. Forbes believed the American tax system was too complex and time-consuming and needed to be simplified. Forbes supported 4.5% mortgages and term limits in 1996, but both dropped in 2000.
Forbes returned to the helm of the magazine and firm after leaving in 2000. In 1996, Fortune officials claimed that stories about Forbes’ sponsors were skewed.
Forbes’ flat-tax scheme has been updated. In 1996, Forbes proposed a 17% flat tax on earned income. Forbes advocated for tax-free income of up to $33,000 per year. Forbes kept the same scheme in 2000, but each member earned a $33,000 exemption. Forbes was worth $430 million in 1996.
Forbes pledged in his 2000 campaign to avoid the flat tax, although in discussion with Alan Keyes the year before, he favored abolishing the 16th Amendment. In 2000, Forbes advocated for social conservatism and supply-side economics.
On June 3, 1997, Steve Forbes signed PNC’s Statement of Principles. Forbes was anti-abortion in 1996 but pro-prayer in 2000. Forbes said he would not donate to Princeton University because it employed philosopher Peter Singer. The latter believe that personhood is limited to sentient beings and that disabled people and infants do not have this status.
Steve Forbes Other Political Activities
On SNL, a political spoof show, Mark McKinney played Steve Forbes. McKinney portrayed Forbes in a satire that aired on March 16, 1996, just after Forbes announced his withdrawal from the 1996 presidential campaign. In 1996, Forbes backed Ron Paul for Texas’ 14th congressional district.
Forbes buys land in Russia to create “Forbes America” in the farce. Forbes presented Saturday Night Live in 1996. Forbes wishes to answer questions from prospective voters, but all he receives are inquiries about his riches.
Forbes portrayed a roofer in the same episode, which contrasted with his bookish, scholarly demeanor and appearance. In a spoof, the real Forbes interviewed McKinney’s, SNL Forbes.
Forbes joined the board of FreedomWorks in December 2006. Forbes is on the NTU board of directors. Forbes is a trustee of the Heritage Foundation in Washington, D.C. Forbes is a regular panelist on Forbes on Fox, which airs on Fox News Channel on Saturdays at 11:00 a.m. EST.
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On March 28, 2007, Forbes was named National Co-Chair and Senior Policy Advisor for Rudy Giuliani’s 2008 presidential campaign. In 2008, Forbes served as John McCain’s economic adviser on taxes, energy, and the budget. In March 2013, Forbes debated “Does America Need a Strong Dollar Policy?” on NPR’s Intelligence Squared.
What is Steve Forbes’s Net Worth?
During the 1996 campaign, Forbes didn’t say how much money he had, but people could still figure it out based on what they knew. Celebritynetworth says that most of his estimated $430 million net worth comes from his family’s publishing empire.
This number probably went down when Forbes sold some of his shares to pay for his campaigns for president, but it went back up when he became CEO of the media company.
When the Forbes family sold a majority stake to Integrated Whale Media Investments of Hong Kong in 2014, the company was said to be worth $475 million. Steve Forbes kept his job as Editor-in-Chief, and the Forbes company kept putting a lot of money into the business.
Steve Forbes Personal Life
He wed Sabina Beekman in 1971. Moira Forbes is one of their five girls. Forbes and his family appeared on Larry King Live when he ran for president in 1996. Forbes has lived in Bedminster, which is in New Jersey.
Forbes rides Amtrak trains, and he was on the train that went off the tracks in Chester, Pennsylvania, in 2016.
Frequently Asked Questions
What Has Made Steve Forbes Well-known?
Steve Forbes is an American businessman and the son of Malcolm Forbes, the famed Forbes magazine’s publisher. He has continued his heritage as the magazine’s editor-in-chief and the CEO of Forbes Inc., its publisher. Forbes was chosen twice as a Republican Party presidential candidate.
Who is Steve Forbes’ Father?
Entrepreneur Malcolm Stevenson Forbes is most known for being the publisher of Forbes magazine, which was started by his father, B. C. Forbes.
Where is Steve Forbes Coaching These Days?
Danny Manning was replaced as head coach at Wake Forest University by Forbes on April 30, 2020, thanks to athletic director John Currie. Forbes was recognized as the ACC Coach of the Year for 2021–22 following his second campaign at Wake Forest.