Forbes magazine may still call itself the "capitalist tool," writes Geraldine Fabrikant in
The New York Times, "but it apparently no longer produces enough capital to support the Forbes
family empire." Late last week, the five Forbes kids sold 40 percent of the company to a private equity group for $200 million to $300 million. "The sale not only provides capital, which could be
money in part for family use, but may also resolve some growing tensions among family members," she writes. Over the last six years, the family has sold off many assets, most notably their father
Malcolm's Fabergé egg collection. Some sales apparently left family members unhappy. Currently, Steve Forbes retains control of the media company. And he says he intends to keep it that way: "I
still have over 51 percent of the votes. I am the controlling shareholder, and as long as I am alive, that is the way it is going to be."
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