Steve Forbes is an American editor, publisher and businessman who has a net worth of $430 million. Steve Forbes has earned his net worth as editor-in-chief of the business magazine Forbes as well as president and chief executive officer of its publisher, Forbes Inc. In the 1996 U.S. Presidential primaries he was a Republican candidate. His father Malcolm Forbes was the longtime Forbes magazine publisher and his grandfather B.C. Forbes was the publication's founder. Forbes was born in Morristown, New Jersey on July 18, 1947, he is of English, Scottish, French, and Dutch descent. He is married to Sabina Beekman, and they have five daughters, in 2007 his daughter Moira was named Publisher of Forbes Life Executive Women. As a member of Princeton class of 1970 he founded his first magazine, Business Today, with the help of two other students. Business Today is currently the largest student-run magazine in the world. Forbes was appointed as head of the Board of International Broadcasting (BIB), Radio Free Europe/Radio Liberty by President Ronald Reagan in 1985.
The plan for a 30 percent cut in New Jersey's income tax over three years he crested along with Christine Todd Whitman was influential in her defeat of incumbent Governor James Florio. After her election, Whitman proposed these tax cuts and they were enacted into law. Forbes used his role in these New Jersey tax cuts as a platform for his subsequent campaigns for the presidency. Major issues Forbes has supported include free trade, health savings accounts, and allowing people to opt out 75% of Social Security payroll taxes into Personal Retirement Accounts (PRAs). Forbes joined the board of directors of the health care industry funded advocacy organization Freedom Works in December 2006. At the Heritage Foundation he is a member of the board of trustees, an influential Washington, D.C.-based public policy research institute. On the television program Forbes on Fox, he is a frequent panelist ,along with other members of the magazine staff, the show airs on Saturday mornings on Fox News Channel.
Forbes made several Political Endorsements in 2010 such as his endorsement of Dr. Rand Paul, Republican candidate for the U.S. Senate in the Commonwealth of Kentucky, Marco Rubio, Republican candidate for the U.S. Senate in the State of Florida, incumbent U.S. Senator John McCain, Republican of the State of Arizona for re-election in 2010, endorsed Peter Schiff, Republican candidate for the U.S. Senate in the State of Connecticut and many others. Steve Forbes was one of the signers of the Statement of Principles of Project for the New American Century (PNAC) on June 3, 1997. Between his two presidential elections Forbes changed his views on a couple of issues of his 1996 election and in the 2000 election he announced that he was adamantly opposed to abortion and supported prayer in public schools. Forbes was listed as the tenth most important contributor of political funds in America, by Campaignmoney.com for his donations during 1999 to 2006, with 15 donations totaling over $7 million. Most of these donations were directed towards his own presidential campaign in 2000.