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Top Forbes editor axed over secret $6M payment: report
New York Post • • business
Key Points:
- Forbes fired Chief Content Officer Randall Lane after discovering he received a secret $6 million payment from RJ Shook, founder of Shook Research, a company that collaborates with Forbes on wealth advisor rankings.
- Lane described the payment as a “gift” and admitted he made a serious error in judgment by not disclosing it, leading to his dismissal in July.
- Forbes policies prohibit employees from profiting personally from the magazine’s business dealings without prior approval, a rule Lane violated with the undisclosed payment.
- The payment was uncovered by private equity firm PPC Enterprises during its acquisition of Shook Research, prompting the investigation that led to Lane's firing.
- Forbes, founded over a century ago, has faced criticism for recent editorial shifts toward clickbait-style lists and financial cutbacks affecting contributors.
