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Wednesday's Connector of the Day – Steve Forbes

November 23rd, 2009
04:37 PM ET

What’s it like being the man who decides who makes the rich list? Steve Forbes, and his business magazine empire, reports on who's the biggest billionaire, and who's made the biggest losses.

The media mogul is CEO and editor-in-chief of Forbes magazine, America's leading voice on the world’s economy, finance, and corporate leadership, with a current circulation of more than 900,000.

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/11/23/art.forbes.jpg caption="Steve Forbes – business media mogul and famous list-maker."]

The Forbes "rich lists" garner much worldwide attention for the magazine. When Mexican drug lord Joaquin “El Chapo” Guzman Loera was listed in Forbes “self-made” billionaires report this month, as well as “World’s Most Powerful People” list, many readers recoiled in horror.

Similar shockwaves rumbled when underworld don and India's most wanted criminal Dawood Ibrahim was listed as 50th most powerful person in the world, in Forbes’ first-ever such list.

His influence stretches beyond business journalism. In 1996 and 2000, Forbes campaigned to become the Republican nominee for president of the United States. From 1999 – 2006, Forbes was the tenth most important contributor of political funds in America, with 15 donations totaling over $7 million.

Comment on Steve Forbes, his lists, his magazines, and his new book 'Power Ambition Glory' below.

soundoff (15 Responses)
  1. tobias rhoner

    Despite the global recession – is there more wealth amongst the super-rich billionaires than ever before? At times like these do the rich just get richer?

    November 24, 2009 at 11:51 am | Reply
  2. R.T. Trillion III

    Mr. Forbes,

    How much fun was it to be on Saturday Night Live?

    R.T. Trillion III

    November 24, 2009 at 12:46 pm | Reply
  3. Peter Kornberg

    Mr Forbes, in what ways do you think it would be possible to address the vast dispartiy of wealth we face in the world? Not only in terms of distribution of wealth and provision of financial aid, but also with the fundamental nature of how the real world works, with politics, power and greed determining much of the outcome?

    November 24, 2009 at 12:57 pm | Reply
  4. Steven D. Mewha

    Isn't there an unwritten social contract making an obligation for the rich to take care of the poor? Everyone is aware of the famous Spiderman saying "with great power, comes great responsibility", well, wouldn't it be equally true for those who are simply rich?
    If this is true, then whenever we see a billionaire, doesn't it simply show us of the greed of the men? Since they're not using their billions to help the world's poor, then they're failing the world and showing us how pathetic they are and greedy.
    Instead of reading articles about how amazing his influence is, maybe we should be criticizing him for perpetuating a system that glorifies corrupt and morally unsound men.

    November 24, 2009 at 1:19 pm | Reply
  5. Jayaraman

    In terms of available resources and allocation, how much of it is gobbled up by the so called Intangible Assets and what are the returns on this category of investments?

    November 24, 2009 at 1:23 pm | Reply
  6. Sam

    why do you think it is that people are so obsessed with lists like the ones that appear in Forbes magazine? Why are rankings so popular?

    November 24, 2009 at 2:05 pm | Reply
  7. Ajibola

    If drug dealers make it to your lists, what prevents corrupt third world dictators from making it to your list. That way we the citizens will be able to confirm who stole our money instead of just leaving it to realm of speculations.

    Ajibola, Nigeria

    November 24, 2009 at 2:06 pm | Reply
  8. julia Stevens

    Do you think that our world is really altered because of the recession? Or are we going to go back to the same levels of excess that existed before?

    November 24, 2009 at 2:07 pm | Reply
  9. M. E. Moore

    Mr Forbes,

    How much richer/poorer is the average man today (as compared to the rich) than he was 100 years ago? Are the laments of those who have only a 37' flat screen, an iPhone, a nice apartment and a good education merely whines of greed?

    And what of the gap between the middle class and the poor – has that grown also?

    November 24, 2009 at 2:13 pm | Reply
  10. Siyad Hajir

    Mr forbes, you are among the top richest men in the world and one of the famous businessmen in the world ,so can you be able to tell me the secret behind your richness?I mean how did you become rich and famous?


    November 24, 2009 at 2:24 pm | Reply
  11. Ishmael Mosinyi

    What is the collective net worth of everyone on earth?

    November 24, 2009 at 2:28 pm | Reply
  12. Don Mayer

    It does seem odd that even during this recession the global "pool" of wealth actually increased to something like $83 trillion. We have become the victim of a huge military-industrial complex which uses false shortages to regulate prices and suck wealth from the people on the lower end of the scale. Reagan et al have done a great job of convincing the American people that this slight of hand manipulation is good for all of us if we just wait for the trickle. Don't pay any attention to that billionaire behind the curtain, he is just watching out for your best interest.
    I'm leaving.

    November 24, 2009 at 3:08 pm | Reply
  13. Paul Richards

    Mr. Forbes, enjoy your biz magazine and browsing your website.

    My question, with President Obama trying to get his Health Care Bill passed in the Senate and the world wide security issues we are dealing with, the middle class getting squeezed on both ends, in your opinion, is the path and direction Obama and his economic advisors that's driving us and our economy, is this the right course of action to pull us out of this financial funk?

    November 24, 2009 at 3:37 pm | Reply
  14. LF

    Save your coins, Mr. Forbes, they do add up in your 'piggy bank' quite well, and you may have to count on them some day..

    November 24, 2009 at 3:50 pm | Reply
  15. Rajdeep Deb

    Do you think that reaganometrics and thatcherism are resposible for todays economic crisis?

    November 24, 2009 at 9:59 pm | Reply

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