TIME FOUNDER Henry Luce was an American publisher and co-FOUNDER of TIME magazine. He was born in 1898 in China to missionary parents and later attended Yale University. He founded TIME magazine in 1923, which became one of the most influential magazines of the 20th century. Luce was also the FOUNDER of Fortune magazine and Life magazine. He was a major influence in the development of photojournalism and the development of modern magazine publishing.