Steve and Chris: The Forbes brothers

In my column last Thursday (you may check out the link here – One-on-one with Forbes Media CEO Mike Perlis), I had a chat with Forbes Media CEO Mike Perlis and we talked about the challenges in successfully migrating the iconic brand from traditional to digital. Mike also clarified the concept of “native advertising” that Forbes Media advocates, wherein thought leadership is encouraged while promotion (of products or services) is not allowed.

I asked Mike how he divines the future of publishing – whether the time will come when the hard copy will become a thing of the past. He remarked the answer really depends on the business model since people (still) like the tactile feel of magazines and newspapers. With Forbes for instance, the imagery of being on the cover of the magazine continues to be iconic and serves as a signal that one has “arrived,” notwithstanding the fact the digital audience may be 10 times larger than print.

“The cover of Forbes magazine is very important. Our approach and our formula is to combine print and digital together. We really like to think of Forbes magazine as an important front door to our brand. The front door may be small compared to the size of the whole building, but it is where you enter. It’s the most expressive element of what your brand is and what you stand for,” the former GQ publisher said.

Mike, who was thrilled to be here in the Philippines, happens to be the first “outsider” to take on the helm of Forbes Media as president and CEO, assuming the duties that used to be handled by Steve and Tim Forbes who were CEO and COO, respectively. I had an opportunity to speak with the Forbes brothers Steve (chairman and editor-in-chief of Forbes Media) and Christopher (also known as “Kip” and is the vice chairman) during the recent Forbes Media Global CEO Conference held at Solaire.

The brothers are both prolific writers, with Kip having penned numerous books and catalogues on art, while Steve is known for his incisive political and economic commentaries/editorials, not to mention the books he has also authored on finance and the global economy. 

Steve, who had a one-on-one interview with President Aquino on the last day of the conference, told me he was “very impressed” with the President. The Philippines is poised for more growth, he said, adding he is confident the country would be able to keep up with the rest of the world in terms of economic progress. With Forbes Media keeping a list of the country’s wealthiest, it’s no surprise its EIC knows there are a lot of millionaires in the Philippines who have the opportunity to drive economic growth – but this has to be coupled with social responsibility for growth to be truly inclusive.

Ricky Razon standing tall

One of the main hosts for the 15th Forbes Media Global CEO was ICTSI chairman Ricky Razon whose Solaire Resort and Casino served as venue for the event. Ricky (or EKR), who is known to be a bit reticent (“anti-social” is a description used by others), attended the event which is considered as a milestone since it was the first time the annual global conference was held in Manila.

Over 400 of the world’s biggest business tycoons, multinational CEOs, visionary entrepreneurs and leaders,including the country’s top business leaders such as Tessie Sy-Coson, Finance Secretary Cesar Purisima, Jaime Augusto Zobel, San Miguel’s Ramon Ang and real estate magnate Manny Villar attended the very successful major event. Big names in business from all over the world were present such as Facebook co-founder Eduardo Saverin, Mario Polegato of the Geox Group, Baidu Inc. president Zhang Ya-Qin, Yoshihiko Mikauchi of Orix Corp., and London-based businessman Wayne Quasha, among many others.

A number of tycoons arrived with their private planes – as many as 30 I’m told – which overwhelmed the NAIA management because there wasn’t enough space so some were asked to park their private aircraft at either Subic or Clark.  Security was also extremely tight at the Solaire theater where the three-day conference sessions were held. Not surprising at all since the estimated wealth of all the tycoons and top CEOs at any given time was estimated at $700 billion.

Over a hundred members of the media covered the event and since access was restricted, a large media room with a giant screen was provided where members of the press could file their stories. Leading PR and communications firm Weber Shandwick, which was one of the co-sponsors for the event, tasked its Manila office to handle all publicity requirements and attend to the needs of the media as well.

The delegates were certainly very impressed with the way the event was handled, and Ricky himself was happy with the outcome of the international conference, which also showcased the state of-the-art facilities of the hotel and the Solaire theater. A special show for the delegates produced by Gina Tabuena’s group featuring singing greats like Zsa Zsa Padilla and Kuh Ledesma was a wonderful treat for the tycoons and some of their wives. Mrs. Lizzy Razon was also present to make sure everything went well.  

Aside from the casino, the hotel with its world-class accommodations is also doing extremely well, with occupancy rates at a high of 90 to 95 percent and with expectations the hotel will be fully booked starting this November. No wonder Ricky Razon is in high spirits nowadays.

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