Forbes Media have been in family hands for over 97 years. However, Forbes has now announced that they have sold the majority stake in the business to a Chinese Company based in Hong Kong.
Forbes Media is famous for the Forbes magazine, which published the rich list. Integrated Whale Media are said to the be the group behind the purchase. However the Forbes Family have still said they will have a large stake in the company, just not the majority. Steve Forbes the current chairman will remain in his position.
The company was founded by the grandfather, 97 years ago, Forbes said that this should be seen as an opportunity to strengthen the companies mission. Forbes reaches over 75 million people worldwide every month through pring, TV and digital media. The companies headquarters will remain the United States of America but the company is now looking to expand to international markets.