Another investor with a significant stake is Singapore businessman Wayne Hsieh, the co-founder of Asustek Computer.
The new ownership team is led by Hong Kong-based Integrated Asset Management, founded by Tak Cheung Yam. The Forbes family, including Chairman and Editor-in-chief Steve Forbes, will continue to hold a minority stake in the 97-year-old publishing company.įinancial terms weren’t disclosed, but a source estimated the cash price at $215 million, primarily to buy out the sizable minority stake held by Elevation Partners. Forbes scraps plan to go public via SPAC mergerįorbes gets $200M from crypto exchange Binance, raising eyebrowsįorbes to become public company through $630M SPAC mergerįorbes moves toward unionization as sale talks continueĪsian businessmen now control the Capitalist Tool.įorbes Media is selling a majority stake to a group of Asian investors known as Integrated Whale Media.
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