Steve Forbes net worth: The rise, fall, and legacy of a media mogul

Steve Forbes, the prominent American businessman, editor, author, and political figure, has an estimated net worth of $200 million. While his financial standing today reflects decades of involvement in publishing, business, and politics, his journey through wealth and influence is deeply intertwined with the legacy of Forbes magazine — a name that has shaped American financial journalism for more than a century.

Steve Forbes Net Worth: $200 Million
Date of Birth: July 18, 1947
Date of Birth: Morristown
Nationality: American
Profession: businessman, editor, author, politician

Table of Contents

Early Life

Raised in Far Hills, New Jersey, Steve Forbes graduated from Princeton University in 1970 with a degree in history. While at Princeton, he co-founded Business Today, now the largest student-run magazine in the world. His academic path laid the foundation for a life steeped in media, politics, and economic advocacy.

A Publishing Legacy Inherited

Born Malcolm Stevenson Forbes Jr. on July 18, 1947, Steve Forbes is the grandson of B.C. Forbes, the founder of Forbes magazine. His father, Malcolm Forbes, led the publication until his death in 1990. Steve subsequently took over as editor-in-chief and later as president and CEO of Forbes Inc., guiding the magazine through both prosperous and turbulent times.

In the 1990s, Forbes magazine was riding high as one of the most influential business publications in the world. According to Steve’s 1996 presidential campaign financial disclosure, his net worth at the time stood at a remarkable $440 million. A large chunk of this wealth — approximately $406 million — was attributed to his 35% stake in Forbes Inc., which had been valued then at $1.16 billion. He also owned about $26 million worth of real estate, including a sprawling 540-acre estate in Bedford, New York.

The Decline of Print Media

However, the valuation of Forbes Inc. in the mid-1990s proved overly optimistic. As digital media surged and print journalism declined, the publishing industry — including Forbes — faced steep challenges. Magazine subscriptions dwindled, advertising revenues dropped, and family-owned publishing empires across the U.S. were forced to adapt or sell.

By 2010, in the aftermath of the 2009 global financial crisis, Forbes Inc. sold its Manhattan headquarters — reportedly for about $55 million. Headlines at the time described the Forbes family as “cash strapped,” and in 2013, the family sold a 51% stake in the company at a significantly reduced valuation. Today, the Forbes brand is estimated to be worth between $100 million and $200 million, far less than its 1996 peak.

Political Ambitions

Steve Forbes is not only a businessman but also a public intellectual and politician. He ran for the Republican nomination for president in 1996 and 2000, promoting a flat tax system and conservative economic principles. Although unsuccessful in both campaigns, he remained a prominent voice in Republican politics, serving as an economic advisor to candidates like Rudy Giuliani and John McCain.

He was also appointed by President Ronald Reagan to lead the Board of International Broadcasting in 1985 and served until 1993. Forbes has been affiliated with several conservative advocacy groups including FreedomWorks, The Heritage Foundation, and the National Taxpayers Union.

Literary Contributions

Steve Forbes is a prolific author whose books echo his staunch advocacy for free markets and limited government. His published works include:

The New Birth of Freedom: Vision for America (1999)
Flat Tax Revolution: Using a Postcard to Abolish the IRS (2005)
Freedom Manifesto (2012)
Money: How the Destruction of the Dollar Threatens the Global Economy (2014)
Reviving America (2015)

His media appearances span from financial talk shows to satirical programs. He has been featured on Forbes on Fox, 60 Minutes, Late Show with David Letterman, The Colbert Report, and even had an uncredited cameo on Rules of Engagement in 2009.