Forbes has fired its Chief Content Officer, Randall Lane, following the discovery that he secretly received $6 million from RJ Shook, the founder of Shook Research. Shook Research collaborates with Forbes on creating rankings of wealth advisors, according to a report by The New York Times.
The payment's purpose remains unclear, with anonymous sources close to Lane's work suggesting Shook paid Lane after selling his company to a private equity firm. Lane reportedly described the payment as a "gift" and has taken responsibility for the error in judgment.
"I made a mistake, and I take responsibility for it," Lane told The Times. "I should have disclosed the gift, and failing to was a serious error in judgment. I deeply regret that, and I lost the job and team I love because of it. None of this changes how I feel about Forbes and the amazing people there."
Forbes's internal policies, as detailed in an employee handbook cited by The Times, generally require employees to seek permission for outside business dealings and prohibit personal gain from the publication's business affairs. A Forbes representative confirmed Lane's departure but declined to comment on the specifics of the payment. Shook Research also declined to comment.
The payment came to light after PPC Enterprises, a private equity firm that acquired Shook Research, reviewed emails from the company and flagged the purported "gift." Lane, 58, admitted to the payment, which led to his termination in July.
Forbes, a publication founded 109 years ago, has recently published numerous listicles, such as "Best-In-State Top Next-Gen Wealth Advisors" and "Top Wealth Management Teams — Private Wealth." Many of these lists were reportedly co-productions between Forbes and Shook Research. Previously, in late 2025, Forbes also severed ties with dozens of contributors, citing a need to ensure the publication's financial stability.
Sources familiar with Lane's relationship with Shook indicated that the two men developed a friendship during a 2013 "humanitarian trip" to Liberia organized by Forbes. Lane subsequently acted as an "unofficial sounding board" for Shook, reportedly not disclosing the $6 million payment because he viewed it as a gift from a friend.