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Preston
Forrest Preston
Rank #2807
UNITED STATES•Healthcare•Health care

Forrest Preston

Net Worth
$1.329B
0% (24h)
Forrest Preston is an American billionaire businessman and the founder of Life Care Centers of America, a leading long-term elderly care company. Born in Massachusetts in 1933, Preston initially pursued a career in medicine, but pivoted after witnessing the inadequate care provided to the elderly in hospitals. This led him to establish Life Care Centers of America in 1970, which has since grown into one of the largest privately-held elderly care companies in the U.S. His source of wealth stems from his successful healthcare ventures, and at the age of 93, he has an estimated net worth of $1.8 billion. Preston's career highlights a dedication to enhancing long-term care for the elderly.

How to read Forrest Preston's profile

Public net-worth figures are estimates. They combine observable inputs—typically listed equity, disclosed transactions, and market prices—with editorial judgment where filings are incomplete (for example, private holdings, debt, or cross-holdings). For Forrest Preston, we anchor the narrative to Health care and Health care, then update the headline number as markets move. The chart on this page is meant to show trajectory, not a certified balance sheet.

When you see $1.329B alongside global rank #2807, interpret it as our best synthesis of widely cited ownership and price signals—not a claim about cash on hand. Estimates can diverge from other publishers because of different treatment of options, trusts, charitable vehicles, or illiquid assets. We document the general approach in methodology and welcome corrections via corrections.

Country (UNITED STATES) and career milestones on this page are curated for reader context; they should be verified against primary sources when used for research. Editorial metadata for this profile is refreshed on a rolling basis, with deeper audits at least annually (last noted cycle: 2026).

Looking for depth? When available, the dossier and timeline sections below add long-form context beyond the headline number—prioritize those modules when evaluating claims about strategy, controversies, or philanthropic commitments.

The Full Dossier

Early Life

Forrest Lee Preston was born on March 22, 1933, in Massachusetts. His father was a Seventh-day Adventist pastor. Preston's early ambition was to become a medical doctor, and he trained as a certified X-ray technician. However, his path took an unexpected turn, leading him to the healthcare industry in a different capacity.

Rise to Success

In the late 1950s, Preston moved to Cleveland, Tennessee, where he co-founded Hospital Publications with his brother, Winton Russell Preston. The company created patient booklets and public relations materials for hospitals. This experience gave him insight into the healthcare system, particularly the care of elderly patients. Recognizing the need for improved long-term care, Preston founded Life Care Centers of America in 1970.

Key Business Strategies

Life Care Centers of America, under Preston's leadership, focused on providing quality care in a residential setting. The company expanded significantly, becoming the largest privately held elderly care company in the U.S., with over 200 locations across 27 states. The company’s revenue reached $3.1 billion in 2016. His business acumen and commitment to high standards of care were key factors in his success.

Philanthropy

Preston is known for his philanthropy, supporting causes related to education, healthcare, and the arts. He endowed the Benjamin M. Preston scholarship at Atlantic Union College, which was named after his father.

Career Timeline

1970

Founded Life Care Centers of America

Established Life Care Centers of America, a long-term elderly care company.

1950s

Co-founded Hospital Publications

Co-founded Hospital Publications with his brother to create patient booklets and public relations materials.

Philanthropic Impact

EducationUndisclosed

Benjamin M. Preston scholarship

Endowed a scholarship at Atlantic Union College in honor of his father.

Key Business Ventures & Holdings

CompanyStakeValue
Life Care Centers of America100.00%$1.8M

Net Worth History

In-Depth Analysis

Early Life

Forrest Lee Preston was born on March 22, 1933, in Massachusetts. His father was a Seventh-day Adventist pastor. Preston's early ambition was to become a medical doctor, and he trained as a certified X-ray technician. However, his path took an unexpected turn, leading him to the healthcare industry in a different capacity.

Rise to Success

In the late 1950s, Preston moved to Cleveland, Tennessee, where he co-founded Hospital Publications with his brother, Winton Russell Preston. The company created patient booklets and public relations materials for hospitals. This experience gave him insight into the healthcare system, particularly the care of elderly patients. Recognizing the need for improved long-term care, Preston founded Life Care Centers of America in 1970.

Key Business Strategies

Life Care Centers of America, under Preston's leadership, focused on providing quality care in a residential setting. The company expanded significantly, becoming the largest privately held elderly care company in the U.S., with over 200 locations across 27 states. The company’s revenue reached $3.1 billion in 2016. His business acumen and commitment to high standards of care were key factors in his success.

Philanthropy

Preston is known for his philanthropy, supporting causes related to education, healthcare, and the arts. He endowed the Benjamin M. Preston scholarship at Atlantic Union College, which was named after his father.

Data Sources & Methodology

Figures for Forrest Preston are synthesized from the sources below and cross-checked against our net worth methodology. Estimates may lag market moves; see corrections to report discrepancies.

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