MAY 2020 | VOLUME 203 NUMBER 2

CHAIRMAN AND EDITOR-IN-CHIEF: STEVE FORBES; CEO AND PRESIDENT: MICHAEL FEDERLE EDITORIAL

RANDALL LANE, Chief Content Officer

Director, Editorial Operations: Caroline Howard; Executive Editors: Luisa Kroll, Kerry Lauerman, Michael Noer Assistant Managing Editors: Jessica Bohrer (Editorial Counsel), Kerry A. Dolan, Brett Knight, Rob LaFranco, Laura Mandaro, Janet Novack, Michael Ozanian, Jennifer Rooney, Matt Schifrin, Michael Solomon, Alex Wood

Senior Editors: Susan Adams, Maneet Ahuja, Dan Alexander, Kurt Badenhausen, Steven Bertoni, Abram Brown, Dawn Chmielewski, John Dobosz, Amy Feldman, Martin Giles, Christopher Helman, Alex Knapp, Alexander Konrad, Alan Ohnsman, Zack O’Malley Greenburg, Susan Radlauer (Research), Tina Russo McCarthy, Nathan Vardi, Merrill Vaughn

Deputy Editors: Rob Berger, Jeremy Bogaisky, Colleen Curry, Iain Martin, Andrea Murphy, Chase PetersonWithorn, Helen A.S. Popkin, Glenda Toma, Halah Touryalai, Vicky Valet, Jennifer Wang, Taesik Yoon

Associate Editors: Dia Adams, Thomas Brewster, Michael del Castillo, Benjamin Curry, Amy Danise,

Daphne Foreman, Antoine Gara, Julius Juenemann, Maggie McGrath, Ezequiel Minaya, Marty Swant

Staff Writers: Angel Au-Yeung, Madeline Berg, Jason Bisnoff, Lauren Debter, Katie Jennings, Jeffrey Kauflin, Noah Kirsch, Jason Metz, Robin Saks Frankel, Carly Schaffner, Samantha Sharf, Kelly Anne Smith, Chloe Sorvino, Michela Tindera, Ruth Umoh, Andrew Wendler, William Yakowicz

Reporters: Justin Conklin, Katherine Love (Managers, Editorial Operations); Deniz Çam, Carter Coudriet, Hayley Cuccinello, Elizabeth Daffin, David Dawkins, Sarah Hansen, David Jeans, Sergei Klebnikov, Tanya Klich, Matthew Perez, Jonathan Ponciano, Rachel Sandler, Christina Settimi, Ariel Shapiro, Kristin Stoller, Giacomo Tognini, Isabel Togoh, Lisette Voytko, Alexandra Wilson

Assistant Editors: Kellen Becoats, Elisabeth Brier, Kenrick Cai, Marley Coyne, Abigail Freeman, Brianne

Garrett, Christian Kreznar, Monica Melton, Sofia Lotto Persio, Leah Rosenbaum, Alexandra Sternlicht,

Kristin Tablang, Samantha Todd, Hank Tucker

Art and Production: Alicia Hallett-Chan (Design Director); Merrilee Barton, Charles Brucaliere, Sarkis Delimelkon, Nick DeSantis, Anton Klusener, Suzanne O’Neill, Robin Regensburg, Robyn Selman, Gail Toivanen

Audience Development: Social Media: Shauna Gleason (Director); Caroline Dilone, Dario Foroutan,

Baylee Mozjesik, Evan Spadaccini. Newsletters: Nick Shippers, Rachel Thomas

Video: Tim Pierson (Director); Greg Andersson, Leah Bottone, Meghan Christensen, Ivan Clow, Julia Ferrier, Marc Gomes, Nick Graham, Riley Hallaway, Matthew Kang, Kieran Krug-Meadows, Chad McClymonds, Juliet Muir, Bernard Osei, Jonathan Palmer, Brian Petchers, Morgan Sun, Kirsten Taggart

Forbes Entertainment: Travis Collins, Kyle Kramer SALES AND MARKETING JESSICA SIBLEY, Chief Revenue Officer AD SALES: Maria Aiza Contro, Aaron Andrews, Julia Aziz, Jake Bell, Jessica Blitzer, Leann Bonanno, Marissa Brown, Jeremy Campbell, Shae Carroll, Andrea Celis, Samantha Charlino, Seema Chaudhari, Julie Chisar,

Ruth Chute-Manning, Alexandra Cohn, Jennifer Cooke, Jennifer Crowe, Sarah Curry, Hannah Davidson,

Leigh Day, Sean Downey, Emilie Errante, Taylor Felgenhauer, Olivia Gelade, Louisa Goujon, Janett Haas, Shauna Haras, Megan Hennessey, Daniel Hennessy, Matthew Herrmann, William Hosinski, Victoria Kreher, Martina Landeka, Jordan Loredo, Brian McLeod, Tara Michaels, Leah Monroe, Matt Muszala, Akshay Patel, Ryan Queler, Paul Reiss, Melanie Ruderman, Jesse Silberfein, Abbey Smith, Rebecca Taroon, William Thompson (SVP), Laura Villaraut, Kyle Vinansky, Adam Wallitt, Charles Yardley, Casey Zonfrilli BRAND STRATEGY/MARKETING/PARTNERSHIPS: Lynn Schlesinger (Chief Marketing Officer); Gaston Alegre, Rachel Aquino, Mary Baru, Kate Bishop, Erika Burho, Nicholas Clunn, James Colistra, Danielle Collins, Connor Davis, Krystle Davis, Tom Davis (Chief Growth Officer), William Delehanty, Samantha Evans, Erica Ferraro, Moira Forbes (EVP, ForbesWomen), Kristine Francisco, Ross Gagnon, Cara Gilmartin, Sahara Gipson, Ashley Grado, Julie McGovern, Adelaide Hill, Olivia Hine, Merryl Holland, Amani Hussain, Kari Jones, Nicolette Jones, Juliana Longo, Brian Lee, Douglas Lopenzina, Erika Maguire, Scott McGrath, James Mentzinger, Sophia Minassian, Antonio Morales, Sade Muhammad, Alexis Murillo, Romy Oltuski, Zehava Pasternak, Jahcelyne Patton, Jennifer Ramos, Allison Rickert, Claire Robinson, Joshua Robinson, Danielle Rubino, Claire Ryan, Peter Sarnoff, Andrey Slivka, Allyson Souza, Kara Stiles, Ashka Thaker, Rashaad Denzel Toney, Meenal Vamburkar, Liz Walsh, Jason Webster, Janet Yin DIGITAL REVENUE OPERATIONS: Rebeca Solorzano (SVP), Alyson Williams (SVP); Sergiu Bucur, Sal Cangeloso, Lisa Chiobi, Eugene Chung, Andrew Dizon, Rachel Goroff, Lauren Gurnee, Jonathan Jones, Victor Lee, Emily Lewis, Nicole Lewitinn, Kelly Mui, Ryan Pearce, Casey Riordan, Steven Song, Jacqueline Subramaniam FORBESLIVE: Sherry Phillips (SVP); Andrea Cantor, Jessica Charles, Chardia Christophe, Alex Engel, Lindsay Ezykowich, Madie Federle, Julieanna Gray, Kayla Jennings-Rivera, Nicole Kerno, Susan Kessler, Jessica Lantz, Michael Martin, Sydney Melin, Menaka Menon, Jimmy Okuszka, Mary Margaret Soderquist, Elizabeth Strozier, Shelby Tompkins, Blair Walther, Jessica Wolf DIGITAL NINA GOULD, Chief Product Officer; VADIM SUPITSKIY, Chief Technology Officer PRODUCT: Ebony Shears; Terrence Agbi, Jennifer Bruno, Youssef Drihmi, Nina Foroutan, Kelly Hanshaw, Erica Ho, Mike Medric, Martin Navarrete, Dayne Richards, Grant Tunkel, Katie Ward, Mila Wentrys CORPORATE TECH: Peter Hahm; Jiten Bhojwani, Christopher Frank, Justin Harris, Joshua Hartzog,

Adaze Idehen-Amadasun, Julia Kim DESIGN: Dan Revitte; Sara Amato, Andres Jauregui, Joy Hwang, Adrienne Michalski E-COMMERCE: Emily Jackson; Madeline Kaufman ENGINEERING: William Anderson; Adrian Ali, Ken Barney, Don Cao, Igor Carrasco, Brian Chamberlain, Chris DeLeon, Mudit Dhawan, Philip Diaz, Stephen Dotz, Jaekyung Ha, Benjamin Harrigan, Isabelle Ingato, Daryl Kang, Yanella Lopez, Johnny McCampbell, Marissa Orea, Drew Overcash, Sungmin Park, Sameer Patwardhan, Mads Pedersen, Joseph Pietruch, Ronak Ray, Charles Rea, Rodney Rodriguez, Kyle Rogers, Aaron Romel, Kelly Sample, Alexander Shnayderman, Zachery Shuffield, Dmitri Slavinsky, Scott Warner, JD Weiner, Forrest Whiting, Raymond Wong, Heath Woodson, Boris Yakubchik BUSINESS INTELLIGENCE: David Johnson; Brandon Bycer, Matthew Haensly, Evelyn Kanu, Alexi Potter, Robert Salgado, Kelsey Simmons, Gregory Spitz CORPORATE FINANCE/OPERATIONS: Michael York (Chief Financial Officer); Cristina Baluyut, Noemi Baraket, Oneil Brodie, Adele Cassano, Rosa Colon, Chelsea Deluca, Mike Deochand, Cindy Eng, Nancy Garcia, Iris Garcia, Christie Hansen, Giedre Kristahn, Christopher Labianca, Nina LaFrance (SVP, Consumer Marketing), Stephanie Lewis, Jaclyn Liu, Christopher Lopiano, Andrea Maniscalco, Natalie Maquiling, Christine Martinez, Paul Motta, Nelson Osegueda, Willie Osegueda, Amanda Pasquarello, Barbara Passarella, Jeanine Pecoraro, Gary Prasto, Ivette Reyes, Angel Sauri, Diane Schmid, Lisa Serapiglia, William Simmons, Vera Sit, Courtney Stanton, Parag Tolia, Buddy Trocchia, Donald Walsh CORPORATE PARTNERSHIPS: Peter Hung (Senior Liaison, Investment Group); Taha Ahmed, Rich Karlgaard, Katya Soldak, Chris Thermistocleous, Chantal von Alvensleben, Amanda Xiang COMMUNICATIONS: Matthew Hutchison (Chief Communications Officer); Laura Brusca, Susan Masula, Jocelyn Swift, Christina Vega HUMAN RESOURCES: Margy Loftus (SVP); Ashley Abendschoen, Brooke Dunmore, Emanuel Joseph-Bain, Amanda Osit, Rachel Shapiro, Mary Urum-Eke LEGAL: MariaRosa Cartolano (General Counsel); Paul Anderson, Lindsey Datte, Susy Garcia, Nikki Koval, Josephine Love-Loftin FORBES ASIA: William Adamopoulos (CEO), Justin Doebele (Editor); FORBES CHINA: Sherman Lee (CEO), Russell Flannery (Editor)

Founded in 1917

B.C. Forbes, Editor-in-Chief (1917–54) Malcolm S. Forbes, Editor-in-Chief (1954–90) James W. Michaels, Editor (1961–99) William Baldwin, Editor (1999–2010)