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37-563: In 2012, pharmaceutical executive John C. Lechleiter from Eli Lilly & Company initially proposed the IBRI. In 2013, Indiana governor Mike Pence announced the formation of the IBRI. Pence later worked with life sciences leaders to secure $ 25 million in startup funds from the state. In 2015, the IBRI hired David Broecker as CEO. In late 2015, the Indianapolis City-County Council approved $ 75 million to build

74-510: A Bachelor of Science in Chemistry from Xavier University in 1975. He went on to receive a master's degree and a PhD in organic chemistry from Harvard University in 1980 after studying on a National Science Foundation Fellowship . His thesis advisor was Dr. Paul A. Wender. Lechleiter joined Eli Lilly and Company in 1979 as senior organic chemist. From 1984 to 1986, he served as director of pharmaceutical product development at

111-636: A technology park called 16 Tech. In February 2016, IBRI, along with Governor Mike Pence, announced $ 100 million in new funding from the Lily Endownment Inc. and the Eli Lilly and Company Foundation. Later that year, in October, the IBRI hired Rainer Fischer as Chief Scientific Officer. In 2017, Governor Eric Holcomb reaffirmed the commitment made by his predecessor Mike Pence. In August of that same year, Innovation Officer Rainer Fischer

148-664: A buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes has published the Forbes Travel Guide since 2009. In 2013, Forbes licensed its brand to Ashford University , and assisted with the launch of the Forbes School of Business & Technology . CEO Mike Federle justified

185-599: A deal valuing the company at $ 800   million. His majority ownership was to include the remaining portion of the company owned by the Forbes family which was not previously sold to Integrated Whale Media. The transaction attracted scrutiny by the Committee on Foreign Investment in the United States . Russell denied reports that Russian businessman Magomed Musaev was involved in the transaction. In November 2023,

222-558: A financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street , founded Forbes magazine on September 15, 1917. Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings . Drey became vice-president of the B.C. Forbes Publishing Company, while B.C. Forbes became editor-in-chief,

259-476: A part. A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $ 300 million, setting the value of the enterprise at $ 750 million." Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now." It was later revealed that the price had been US$ 264 million. In 2021, Forbes Media reported a return to profit, with revenue increasing by 34 percent to $ 165 million. Much of

296-551: A post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Forbes (1919–1990). Bruce Forbes took over after his father's death, and his strengths lay in streamlining operations and developing marketing. During his tenure, from 1954 to 1964, the magazine's circulation nearly doubled. On Bruce's death, his brother Malcolm Forbes became president and chief executive officer of Forbes, and editor-in-chief of Forbes magazine. Between 1961 and 1999

333-407: A wide network of freelancers ("contributors") writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$ 100,000, according to the company. The contributor system has been criticized for enabling "pay-to-play journalism" and

370-659: Is Steve Forbes , and its CEO is Mike Federle . It is based in Jersey City, New Jersey . Competitors in the national business magazine category include Fortune and Bloomberg Businessweek . Published eight times a year, Forbes features articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, politics, and law. It has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine

407-587: Is known for its lists and rankings, including of the richest Americans (the Forbes 400 ), lists of 30 notable young people under the age of 30 ( Forbes 30 Under 30 ), America's Wealthiest Celebrities, the world's top companies (the Forbes Global 2000 ), Forbes list of the World's Most Powerful People , and The World's Billionaires . The motto of Forbes magazine is "Change the World". B. C. Forbes ,

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444-1090: Is on the Boards of Directors of Nike, Inc. (from 2009), the Central Indiana Corporate Partnership and the Great Lakes Chemical Corporation . He has served on the Board of Trustees of his alma mater, Xavier University , for a three-year term beginning in September 2004, and on the board of the Life Sciences Foundation . He serves as a distinguished advisor to the Children's Museum of Indianapolis . In 2014, he became chairman of United Way Worldwide, which Lilly has supported for many years through both corporate giving and volunteerism. Lilly employees are encouraged to participate in

481-540: The Asia Society , wrote in The Washington Post that "Since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence." On August 26, 2021, Forbes announced plans to go public via a merger with a special-purpose acquisition company called Magnum Opus Acquisition, and to trade on

518-706: The Lilly Research Centre Limited in Windlesham , England . In 1986, he returned to the U.S. as manager of research and development projects for Europe. He became Director of development projects management in 1988, Executive Director of pharmaceutical product development in 1991, Vice President of pharmaceutical product development in 1993, and Vice President of regulatory affairs in 1994. Lechleiter became Vice President for development and regulatory affairs in 1996, and Senior Vice President of pharmaceutical products in 1998. In 2001, he

555-813: The University of Indianapolis (2012), and the National University of Ireland (2012). In 2012, he was awarded the inaugural Global Health Partner Award from Project HOPE . In 2014, he was named as the August M. Watanabe Life Sciences Champion of the Year for his work in supporting the development of the Indiana Biosciences Research Institute . In 2015, he received the International Citizen of

592-647: The 2009 Times report: "Steve Forbes recently returned from opening up a Forbes magazine in India , bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman , a quarterly magazine published by Steve Forbes's daughter, Moira Forbes , with a companion Web site. The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007. The company also formerly published American Heritage and Invention & Technology magazines. After failing to find

629-502: The IBRI’s Board of Directors include: John C. Lechleiter John C. Lechleiter (born 1952) is an American businessman and chemist. He served as president, chief executive officer, and chairman of the board of directors of Eli Lilly and Company from April 2008 to December 2016. Lechleiter first participated in laboratory research in a summer research program at the University of Minnesota in 1974. Lechleiter received

666-672: The Lilly Global Day of Service, an internationally observed day of charitable work in their communities. Lechleiter began the initiative in 2008, the year that he became CEO. Lechleiter has identified poor K-12 and STEM education as "this country's Achilles' heel", and the Lechleiter family has contributed towards K-12 education via the Catholic Education Foundation of Louisville. He has received Honorary Doctorates from Marian University (2006),

703-704: The New York Stock Exchange as FRBS. In February 2022, it was announced that Cryptocurrency exchange Binance would acquire a $ 200 million stake in Forbes as a result of the SPAC flotation. In June 2022, the company terminated its SPAC merger citing unfavorable market conditions. In August 2022, the company announced that it was exploring a sale of its business. In May 2023, it was announced that billionaire Austin Russell , founder of Luminar Technologies , agreed to acquire an 82   percent stake in

740-666: The Year Award from the International Center of Indianapolis. Lechleiter and his wife Sarah live in Indianapolis , Indiana, and have three children, Andrew, Daniel and Elizabeth, and several grandchildren. Forbes (magazine) Forbes ( / f ɔːr b z / ) is an American business magazine founded by B. C. Forbes in 1917 and owned by Hong Kong –based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief

777-557: The app. David Churbuck founded Forbes ' s web site in 1996. The site uncovered Stephen Glass 's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism . At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010, it exposed the California "runaway Prius" as a hoax, as well as running five other articles by Michael Fumento challenging

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814-631: The company published 100 articles each day produced by 3,000 outside contributors who were paid little or nothing. This business model, in place since 2010, "changed their reputation from being a respectable business publication to a content farm", according to Damon Kiesow, the Knight Chair in digital editing and producing at the University of Missouri School of Journalism. Similarly, Harvard University's Nieman Lab deemed Forbes "a platform for scams, grift, and bad journalism" as of 2022. In 2017

851-494: The deal collapsed, as Russell was unable to put together the necessary funds. Apart from Forbes and its lifestyle supplement, Forbes Life , the magazine has 42 international editions covering 69 countries: Chairman / Editor-in-chief Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio . Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From

888-406: The entire media premise of Toyota's cars gone bad. The website (like the magazine) publishes lists focusing on billionaires and their possessions, especially real estate. Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics . Together these sites reach more than 27 million unique visitors each month. Forbes.com employs

925-549: The licensing in 2018, stating that "Our licensing business is almost a pure- profit business , because it's an annual annuity ." Forbes would launch limited promotions for the school in limited issues. Forbes has never formally endorsed the school. On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within

962-475: The magazine was edited by James Michaels . In 1993, under Michaels, Forbes was a finalist for the National Magazine Award . In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now

999-468: The opportunity to expand our work with Zyprexa in this same child-adolescent population." In 2004, he became Executive Vice President for pharmaceutical operations. Lechleiter served as Lilly's president and chief operating officer beginning in October 2005. He also joined Lilly's board of directors at that time. Lechleiter was elected as Lilly’s president and chief executive officer (CEO), effective April 1, 2008. Effective January 1, 2009, Lechleiter

1036-454: The publisher's 2012 earnings before interest, taxes, depreciation, and amortization was US$ 15 million. Forbes reportedly sought a price of US$ 400 million. In July 2014, the Forbes family bought out Elevation and then Hong Kong-based investment group Integrated Whale Media Investments purchased a 51 percent majority of the company. In 2017, Isaac Stone Fish, a senior fellow of

1073-433: The repackaging of public relations material as news. Forbes currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue. In July 2018 Forbes deleted an article by a contributor who argued that libraries should be closed, and Amazon should open bookstores in their place. As of 2019

1110-470: The revenue growth was attributed to Forbes’ consumer business, which was up 83 percent year-over-year. CEO Mike Federle says that Forbes is built on an audience and business scale with 150 million consumers. In January 2010, Forbes reached an agreement to sell its headquarters building on Fifth Avenue in Manhattan to New York University ; terms of the deal were not publicly reported, but Forbes

1147-413: The slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site. The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $ 70 million to $ 80 million a year in revenue, [it] never yielded the hoped-for public offering ". Forbes.com uses a contributor network in which

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1184-491: The website blocked internet users using ad blocking software from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access was granted. Forbes argued that this is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from the Forbes site. Forbes won the 2020 Webby People's Voice Award for Business Blog/Website . In November 2019, Forbes launched

1221-713: Was "...move quickly, but the most important thing is to be patient, resolute, and be guided by the data." Lechleiter is a member of the American Chemical Society , the Business Roundtable and The Business Council . He is Chairman of the Pharmaceutical Research and Manufacturers of America and President of the International Federation of Pharmaceutical Manufacturers & Associations . Lechleiter

1258-453: Was appointed as chairman of the company's board of directors, succeeding Sidney Taurel . In 2012, he earned US$ 15.57 million, according to Forbes . He is credited with successfully guiding the company through a difficult period in which patent protection expired for four of its main products, Gemzar , Zyprexa , Cymbalta and Evista , and for establishing a promising pipeline of possible new drugs. In 2013, he said his advice to others

1295-505: Was appointed executive vice president for pharmaceutical products and corporate development. In a 2003 e-mail, he discussed the use of the anti- schizophrenia or bipolar disorder drug Zyprexa for "disruptive kids", an off-label use, for which drug manufacturers are not legally permitted to encourage, even if it was not approved by federal regulators because it could lead to diabetes . "The fact we are now talking to child psychs and peds and others about Strattera means that we must seize

1332-506: Was named CEO. He stepped down in 2019. In September 2020, Alan Palkowitz was named president and CEO of the IBRI. In September 2024, IBRI and Indiana University announced the creation of a joint center of excellence. The new center, the Joint Center of Excellence for Point of Care, will advance innovation and treatment in four disease areas: diabetes and metabolism, pediatric rare diseases, cancer, and Alzheimer's disease. Appointees to

1369-461: Was to continue to occupy the space under a five-year sale-leaseback arrangement. The company's headquarters moved to the Newport section of downtown Jersey City , New Jersey, in 2014. In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale. This was encouraged by minority shareholders Elevation Partners . Sale documents prepared by Deutsche Bank revealed that

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