B.C. Forbes Founded Magazine During World War I

C. Forbes started the magazine that bears his name in 1917 while World War I was underway. The Scottish immigrant had arrived in New York in 1904 and worked as a business reporter before deciding to publish his own title.

Forbes was the sixth of ten children of a Scottish tailor.

His formal schooling ended after eighth grade. At age 24 he moved to South Africa and wrote editorials for the Rand Daily Mail. He immigrated to the United States in 1904. After difficulty finding paid work, he offered his services without compensation for several weeks and later received a salary. He later wrote under a pen name for a second publication while keeping the first job.

” Forbes wrote that readers learn more about a company by studying its chief executive than by examining its balance sheet. The magazine expanded in the 1920s but faced financial trouble during the Depression. By 1932 the company was nearly bankrupt. Forbes reorganized operations and restored profitability. The publication continues under the same ownership principles established at its founding.