Forbes Family Sells Shares

Long after Malcomb Forbes' display of conspicuous consumption as Morocco's most extravagant tourist is but a memory, the New York Times reports that his heirs have parted with a 40 percent share of their main capital asset, Forbes magazine, the erstwhile "capitalist tool." The Moroccan palace where Forbes feted Elizabeth Taylor was sold to the monarchy in the 90's, and Forbes' famous collection of Faberge eggs hit the block a short time later. As my father would say, shirtsleeves to shirtsleeves in three generations.