Remembering Malcolm Forbes on his 100th birthday by SteveForbesCEO
During his 36 years as editor-in-chief, Malcolm Forbes turned his family's small publishing company into a world-famous brand, one redolent of power, entrepreneurship and wealth. On the occasion of his 100th birthday, we're publishing a series of articles about him and the very rich world he created and lived in.have been right at home in this era of social media, a time when what we call “branding” is more important than ever.
Pop’s best hire was James Michaels, who became the publication’s longtime editor and did more than anyone else to bring about’ editorial dominance and prominence. We developed a well-earned reputation for hard-hitting stories that evaluated companies the way perceptive critics critique stage plays. What made these pieces ring true was our growing sophistication in digging into corporate balance sheets in a way no other publication could.
One of my father’s most successful innovations after the war was launching “The Forbes Investor,” a weekly newsletter that recommended stocks and analyzed the previous week’s market news. His boldest move here: pricing the newsletter at an outlandish $35 a year, a huge amount in an economy whose nominal GDP was about 1/80 of today’s , and with production costs a small fraction of the magazine’s. The newsletter was an instant success and provided the capital to reorganize the company.
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