Top Forbes editor reportedly fired after receiving $6m from business associate
Summary
Randall Lane, the top editor of Forbes, was fired after reports showed he accepted $6 million from a business associate whose company partners with Forbes. Lane admitted he should have disclosed the payment and said it was a mistake that cost him his job.Key Facts
- Randall Lane worked at Forbes for nearly 16 years and was the top editor since 2017.
- He received $6 million from RJ Shook, founder of Shook Research, a company that works with Forbes on wealth adviser rankings.
- The payment came after Shook sold a majority stake to a private equity firm.
- Forbes staff learned about the reasons for Lane’s departure from a New York Times story.
- Lane called the payment a gift for advice he gave Shook over time but failed to disclose it.
- Forbes policy forbids staff from accepting money or favors from people or companies they cover.
- Forbes did not provide further comments on the situation.
- Public trust in the media is low, with 57% of Americans lacking confidence in journalists acting in the public’s best interest.
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