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Washington Post: Kremlin-connected tycoon may be behind Forbes purchase

Magomed Musaev, a Russian investor and entrepreneur, claims he bought the American media giant.
Magomed Musaev
Magomed Musaev. Credit: LinkedIn.
Washington Post: Kremlin-connected tycoon may be behind Forbes purchase

Magomed Musaev, the owner of Forbes Russia, told his partners that he secretly invested in purchasing the Forbes Media Group, the Washington Post reported.

According to the Washington Post, there are at least five audio and one video recording in which Magomed Musaev discussed purchasing the Forbes Media Group with his partners.

In June 2023, Magomed Musaev allegedly told his partners he was behind the purchase of the Forbes Media Group, saying it was the deal of his lifetime, according to the Washington Post. Musaev’s comments sparked controversy about potential foreign influence in a major media deal in the United States. 

“I just bought global Forbes,” Musaev reportedly told one of his associates, referring to the Forbes Media Group, which includes the US edition of the magazine. “You understand when you have in your hands the key to the most authoritative global brand, this key will give me access to anyone.”

In the video recording obtained by the Washington Post, Magomed Musaev claimed that a 28-year-old US citizen and tech founder Austin Russell, who had announced he bought Forbes for $800 million, was “the face” of the deal. In the same video recording, Musaev insisted his own involvement in the deal be kept quiet.

In June 2023, Austin Russel visited Musaev’s birthday party in New York City with top executives from the Forbes Media Group. In a statement to the Washington Post, Austin Russell denied any Russian involvement in the deal.

“Musaev has no involvement whatsoever in the Forbes transaction. Any suggestion to the contrary is false. There is not a single dollar of capital from any Chinese or Russian citizen or entity, including Musaev,” Russell’s spox said.

Musaev told the Washington Post that any suggestion he had control of the deal was “absolute nonsense” and denied that he had any participation in the purchase of the Forbes Media Group. Musaev also denied he told his associates he had bought Forbes but refused to respond to Washinton Post’s requests for comment about audio and video tapes, in which he said he bought Forbes.

Forbes is an American business magazine founded by B.C. Forbes in 1917. Published eight times a year, Forbes magazine features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. 

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