The acquisition bid for Forbes Media, led by Austin Russell, the world’s youngest self-made billionaire and CEO of Orlando-based electric vehicle tech firm Luminar Technologies, was announced last month. But like Robb’s alleged Forbes bid, Utopia appears to be a ghost ship. Robb’s company, Utopia Residences, signed a letter of intent with Samsung Heavy Industries to construct the vessel fourteen years ago. Ironically, in 2009, Forbes helped play a role in hyping Robb’s Utopia concept with some early positive press. The story serves as an insightful example for why there is so much interest and contention over the ownership and control of the Forbes Media company.

Source: Forbes June 27, 2023 13:25 UTC