Biographies of Scots and Scots Descendants (F) Forbes,
American publisher, b. Englewood, N.J. The third son of a Scottish
immigrant who founded Forbes magazine in 1917, he graduated from
Princeton Univ. (1941), and became publisher of the magazine on his
father's death (1954). Under his leadership, the publication became one of
America's most successful business magazines, with a circulation of
735,000. Its annual list of the richest 400 people in America is one of
the most widely quoted sources on the subject of wealth in the United
States. Forbes ran unsuccessfully for governor of New Jersey (1957) and
used his magazine and numerous books to praise the virtues of
laissez-faire capitalism. He was worth at least $400 million at his death.
The family continues to run the magazine.
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