Forbes Magazine: A Scottish Mind Behind a Global Business Icon
When the name Forbes is mentioned today, it is synonymous with wealth rankings, global business influence, and sharp economic insight. Yet behind this iconic American magazine lies a distinctly Scottish story—one rooted in the life and values of its founder, Bertie Charles Forbes, a son of Deeside whose vision reshaped how the world reads about business.
From Deeside to the World
B. C. Forbes was born in 1870 in New Deer, Aberdeenshire, into a modest Scottish family. Like many Scots of his generation, Forbes carried with him a strong tradition of self-education, discipline, and respect for enterprise. After beginning his working life as a bank clerk in Aberdeen, he emigrated to the United States in the 1890s, part of the great wave of Scots who carried their skills and ambition abroad.
Forbes quickly found his footing in journalism, recognising that business—then often treated as dull or opaque—was in fact the driving force behind modern society. His Scottish upbringing, steeped in practicality and moral responsibility, shaped his belief that business leaders should be understood not merely as financiers, but as individuals with character and purpose.
Founding Forbes Magazine
In 1917, at the height of the First World War, B. C. Forbes founded Forbes Magazine in New York. Its mission was clear and revolutionary for its time:
“Business was created to produce happiness, not to pile up millions.”
Unlike traditional financial publications focused purely on numbers, Forbes highlighted the personal stories of entrepreneurs, industrialists, and innovators. This human-centred approach reflected Forbes’s Scottish sensibility—valuing thrift, integrity, and hard work alongside success.
The magazine quickly distinguished itself by blending economic analysis with biography, ethics, and long-term vision, helping readers understand not just what businesses did, but why they mattered.
A Lasting Legacy
B. C. Forbes remained closely involved with the magazine until his death in 1954, after which it passed into the hands of his sons and later generations. Under family stewardship, Forbes expanded into a global media powerhouse, famous for its Forbes Rich List, Forbes 30 Under 30, and its coverage of entrepreneurship, technology, and global markets.
Today, Forbes is read in dozens of countries and languages—but its philosophical core still echoes the founder’s Scottish roots:
respect for enterprise
admiration for innovation
and a belief that wealth carries responsibility
Scotland’s Quiet Influence on Global Capitalism
Though often regarded as an American institution, Forbes Magazine stands as another example of Scotland’s disproportionate influence on the modern world. From Adam Smith’s economic theories to B. C. Forbes’s business journalism, Scottish thinkers have repeatedly shaped how capitalism is understood and practiced.
Bertie Charles Forbes may have built his magazine in New York, but the values that guided it—clarity, conscience, and character—were forged in Aberdeenshire soil.
In remembering B. C. Forbes, we remember a Scottish emigrant who did more than report on wealth—he redefined how success itself should be measured.