“Today, success should no longer represent wealth accumulation at any cost, but instead be defined by how value is created and the positive ripple effects it can have. “For over 100 years, Forbes has served as the authority representing success and business news at a global scale, and I’m honored to be selected by the owners as the new steward of the brand,” said Mr. “When IWM acquired Forbes in 2014, our vision was to keep the legendary brand as a strong force in the media world, fully accelerate Forbes to digital, and leverage the strength of the brand to create new revenue streams. All capital for the acquisition has been fully committed and independent of his stake in Luminar.ĪiThority Interview Insights: AiThority Interview with Darren Guarnaccia, President at Uniform Russell will hold an 82% interest in the entity that controls the global media platform upon closing of the transaction, bringing ownership back to the United States and with a renewed focus of helping shape the next generation of capitalism where financial success and building value for the world both intersect. Sets vision to champion the next generation of capitalism with business-for-good and giving backĪmerican innovator and automotive tech industry pioneer Austin Russell, the Founder and CEO of Luminar, and Hong-Kong based Integrated Whale Media Investments (IWM) announced they have entered into a definitive agreement for the acquisition of majority ownership in Forbes Global Media Holdings in a transaction valuing the company at nearly $800 million.
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