Forbes kicked off his formal campaign with a Web site this morning.
In 1996, Forbes finished fourth during the Republican primary. He's expected to go up against Republican candidates Texas Gov. George Bush, former Vice President Dan Quayle, former U.S. Transportation Secretary Elizabeth Dole, and conservative TV commentator Patrick Buchanan, who have either announced or are expected to announce their presidential candidacy.
The announcement comes as no surprise given that Forbes has already hired some key political advisers.
In the past, Forbes has expressed his opposition to Internet taxes, citing concerns that they would slow the development of the industry.