Malcolm Forbes

Early Life and Education

Malcolm Stevenson Forbes was born on August 19, 1919, in Englewood, New York. He was the son of Adelaide Mary Stevenson and B. C. Forbes, a financial journalist and author who founded *Forbes* magazine. Forbes grew up in a well-established family and attended The Lawrenceville School, a prestigious boarding school in New Jersey. After high school, he continued his education at Princeton University, where he was a member of the Ivy Club and the Cap and Gown Club, graduating in 1941.

Military Service

After graduating from Princeton, Malcolm Forbes joined the U.S. Army during World War II. He served as a machine gunner in the 84th Infantry Division, participating in some of the war’s most intense combat. His bravery and dedication earned him both a Bronze Star and a Purple Heart for his service.

Taking Over Forbes Magazine

Following his military service, Forbes returned home and joined his father’s business, *Forbes* magazine. In 1954, after the passing of his father, Malcolm took over as the publisher of the magazine. Under his leadership, *Forbes* became a highly successful and influential business publication. The magazine gained a strong reputation for its financial news, investing tips, and its famous lists, including the Forbes 400 list of the wealthiest Americans.

Political Career

In the 1950s, Malcolm Forbes briefly ventured into politics. He served as a member of the New Jersey Senate, where he worked to make a difference in state politics. Although he ran for Governor of New Jersey, he was not successful in this bid and soon turned his focus entirely to running the family business.

Entrepreneurial Success and Diversification

Beyond his success in publishing, Forbes displayed his entrepreneurial spirit by diversifying his investments into real estate and other ventures. He demonstrated keen business acumen, which helped further solidify his wealth and influence in the business world. Additionally, his contributions to journalism were recognized when he received the Walter Cronkite Award in 1989.

Philanthropy and Passion for Collecting

Malcolm Forbes was also known for his philanthropy, frequently supporting charitable causes and organizations. His wealth allowed him to pursue personal passions, such as collecting art, historical documents, Harley-Davidson motorcycles, and Fabergé eggs. These collections reflected his love for adventure, culture, and history.

The Capitalist Tools Motorcycle Club

In the 1960s, Forbes combined his love of motorcycles with his business interests by founding The Capitalist Tools, a motorcycle club for enthusiasts like himself. The club became a symbol of his adventurous spirit and desire to connect with others who shared his passion for riding.

Death and Legacy

Malcolm Forbes passed away on February 24, 1990, at the age of 70 due to a heart attack at his home, Timberfield, in Far Hills, New Jersey. After his death, his son Steve Forbes and granddaughter Moira Forbes took over the family business. Malcolm Forbes is remembered not only as a successful businessman and publisher but also as a man who lived life to the fullest, with an extravagant lifestyle, a passion for motorcycles, and a deep love for adventure.