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Bertie Charles ForbesScottish financial journalist and writer; founder of Forbes magazine
Date of Birth: 14.05.1880
Country:  Great Britain |
Content:
- Biography of Bertie Charles Forbes
- Early Career
- Move to the United States
- Establishment of Forbes Magazine
- Legacy
Biography of Bertie Charles Forbes
Bertie Charles Forbes was a Scottish financial journalist and writer, best known as the founder of the magazine "Forbes." He was born on May 14, 1880, in New Deer, Aberdeenshire, Scotland, into a large family of Scottish tailors. As the sixth child out of ten, Forbes dropped out of school and started working as a typesetter, earning only 75 cents per week. He mistakenly believed that he would immediately be hired as a writer, as he was passionate about composing texts.
Early Career
After attending the University of Dundee, Forbes became a reporter and editorial writer for a local newspaper in 1897, thanks to his stenography skills. He held this position until 1901. Seeking a fresh start and to forget about an ex-girlfriend who had married someone else, Forbes moved to Johannesburg, South Africa. There, he founded the anti-apartheid newspaper "Rand Daily Mail," which was later purchased by magnate Abe Bailey.
Move to the United States
In 1904, Forbes emigrated to the United States and worked as a writer and financial editor for the "Journal of Commerce" before becoming a respected columnist for newspapers owned by the Hearst Corporation in 1911. Two years later, Forbes left Hearst and accepted an offer from media tycoon William Randolph Hearst to become the financial and business editor of "The New York Journal American." Forbes held these positions until 1916.
Establishment of Forbes Magazine
After becoming one of the most prominent financial journalists, unafraid to criticize the wealthy, Forbes founded his eponymous magazine in 1917. Originally considering the name "Doers and Doings," he was persuaded by friends to use his own name instead. While Bertie remained the head of the publication and its editor-in-chief until his death, "Forbes" surpassed competitors such as "Business Week" and "Fortune" in popularity.
Legacy
During the Great Depression, the magazine struggled financially, and Forbes used his own earnings from other publications to cover editorial expenses. Despite this, "Forbes" remained a modest publication, with a circulation of 100,000 copies. When newspaper magnate Hearst offered to purchase "Forbes" for $10 million in 1928, Bertie refused, stating his desire to maintain the "only independent magazine in America."
In his later years, Forbes received assistance from his two eldest sons, Bruce Charles Forbes and Malcolm Stevenson Forbes. He also founded the Investors League in 1942. Bertie Charles Forbes passed away on May 6, 1954. Today, "Forbes" magazine is one of the most respected and well-known economic publications in the world.
