Progress Checker: Then Vs. Now

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Luiz F. Costa Macambira   CEO

Forbes Monaco first issue cover Hinduja

The idea for a Monaco edition of Forbes came into play around the time the iconic title celebrated its centennial in September 2017.

In his editorial “The First 100 Years,” Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, wrote about the “folly” of launching a new publication at a time when the U.S had entered the Great War. He wrote: “B.C. Forbes deeply believed in what we today call entrepreneurial capitalism. He loved chronicling the doings of business leaders—the bolder, the better.”

For me, someone who not only embraces capitalism but is a voracious reader, the opportunity to create a Monaco version of such an authoritative title, with an emphasis on the international business leaders and wealthy consumers who live here, could not be missed.

After much anticipation (and a few hurdles), the first Forbes Monaco cover was unveiled on October 24, 2018, featuring chair of the Hinduja bank, Hinduja SP Shanu, whose family places #55 on the Forbes 2018 Billionaire’s List, and in her own right, a very powerful woman.

When the first Forbes Monaco edition rolled out, the response confirmed our expectations. Copies at kiosks sold out and my inbox was inundated. It was clear there was an appetite for business journalism in the Principality.

In the words of Steve Forbes himself, the magazine was long overdue in this affluent part of the world. With less than 40,000 residents, the Principality is home to more billionaires and millionaires per capita than anywhere else in the world and in 2018, Forbes reported that almost one-third of its population or 32.1% had assets over $1 million—not including the value of their homes.

Although still in its early stages, Forbes Monaco is poised to change the way people look at the Principality. We look to offer a fresh local perspective and a provocative point of view to keep our readership engaged.

For over 100 years, from Rockefeller to Bill Gates, from the Great Depression to the Great Recession, Forbes has always provided readers with critical insight. The Monaco edition will act as the narrative for the entrepreneurs and individuals who have the power to change the Principality for the better.

A work in progress.

 

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Luiz F. Costa Macambira   CEO

Luiz is the Publisher and CEO of the Forbes Monaco magazine and website. Launched in November 2018, Forbes Monaco is part of the Forbes family, with its 7 million readers and 71 million monthly website visitors worldwide.