Forbes fired top editor after discovering he received secret $7.7 million payment
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Forbe’s chief content officer Randall Lane was paid by RJ Shook, whose company, Shook Research, has partnered with Forbes since 2016 to publish rankings of wealth advisers.
PHOTO: FORBES/FACEBOOK
Benjamin Mullin
- Forbes fired top editor Randall Lane after discovering he received a secret US$6 million payment from Shook Research founder, violating company rules on outside income.
- Lane saw the payment as a personal gift for advice given, but failed to disclose it, leading to his dismissal and public apology.
- Forbes' partnership with Shook Research produces revenue through cobranded wealth adviser rankings, which are influential and part of Forbes' evolving business model.
AI generated
NEW YORK - The top editor of Forbes was fired in July after the company discovered that he had received a payment of about US$6 million (S$7.7 million) from the founder of a firm that does business with the magazine, according to three people familiar with the decision.
Randall Lane, the magazine’s chief content officer, was paid by RJ Shook, whose company, Shook Research, has partnered with Forbes since 2016 to publish rankings of wealth advisers.
