Forrest Preston

$1.57 B

Ranked #2487 in World

About Forrest Preston

Forrest Lee Preston, born on March 22, 1933, in Massachusetts, rose to prominence as the founder, owner, chairman, and CEO of Life Care Centers of America, a pioneer in the long-term elderly care sector since its inception in 1970. Hailing from a devout background with his father, Benjamin M. Preston, being a Seventh-day Adventist pastor, Preston initially aimed for a career in medicine. However, his path led him to revolutionize elderly care after witnessing the inadequate conditions faced by the elderly in hospitals. Under his leadership, Life Care Centers of America expanded significantly, ranking as the third largest privately owned long-term care facility chain in the U.S., with Preston amassing an estimated net worth of US$2.1 billion by September 2015. A resident of Cleveland, Tennessee, and a committed Baptist, Preston's journey from aspiring medical doctor to a healthcare magnate underscores a dedication to enhancing long-term care for the elderly.

Born

March 22, 1933 in Massachusetts, US

Age

93 years

Source Of Wealth

Health Care

Industries

Healthcare

Citizenship

United States

Residence

Cleveland, Tennessee

Education

Oregon State University; Walla Walla College

Spouse

Kathleen Marchant (d.2017)

Forrest Lee Preston was born on March 22, 1933, in Massachusetts. His father, Benjamin M. Preston, was a Seventh-day Adventist pastor. Forrest Preston was raised in a religious household and attended Adventist schools.

Forrest Preston: Family

Forrest Preston married Kathleen Marchant in 1936. They remained married until her death in 2017. The couple had three children together: two sons and a daughter.

Forrest Preston: Career Highlights

Forrest Preston initially intended to become a medical doctor and became a certified X-Ray technician. However, he later changed his career path and moved to Cleveland, Tennessee, in the late 1950s. There, he co-founded Hospital Publications with his brother Winton Russell Preston. The company created patient booklets and public relations materials for hospitals.

While working in the healthcare industry, Forrest Preston observed the conditions of elderly patients in hospitals and identified the need for better long-term care. This observation led him to found Life Care Centers of America in Cleveland in 1970. Under his leadership, Life Care Centers of America grew to become the largest privately owned long-term care facility chain and the third largest privately owned long-term care facility in the United States.

Forrest Preston: Companies

Forrest Preston is the founder, owner, chairman, and CEO of Life Care Centers of America. The company operates over 200 long-term care facilities in 28 states.

Forrest Preston: Major Achievements

Forrest Preston's major achievement is building Life Care Centers of America into a successful and respected long-term care company. He is also credited with improving the quality of care for elderly patients in the United States.

Forrest Preston: Awards & Achievements

Forrest Preston has received numerous awards and recognitions for his contributions to the healthcare industry. Some of his notable awards include:

The Ernst & Young Entrepreneur of the Year Award in 1998
The Horatio Alger Award in 2003
The Cleveland Chamber of Commerce Lifetime Achievement Award in 2013

Forrest Preston: Personal Life & Legacy

Forrest Preston resides in Cleveland, Tennessee, near fellow businessman Allan Jones.

He is a Baptist by faith and attends First Baptist Church in Cleveland. Preston is known for his philanthropy and has donated millions of dollars to various charitable organizations.

Forrest Preston: Trivia

Forrest Preston's estimated net worth as of September 2015 was US$2.1 billion.
He is a licensed pilot and enjoys flying his own plane.
Preston is an avid golfer and has played at some of the most prestigious golf courses in the world.

Wealth History

Timeline

March 22, 1933

Forrest Lee Preston is born in Massachusetts.

Late 1950s

Forrest Lee Preston moves to Cleveland, Tennessee.

1970

Forrest Lee Preston founds Life Care Centers of America in Cleveland.

September 2015

Forrest Lee Preston's net worth is estimated to be US$2.1 billion.

2017

Forrest Lee Preston's wife, Kathleen Marchant, passes away.

Forrest Preston : FAQs

What is Forrest Preston's current net worth?

Forrest Preston's current net worth is $1.57 billion.

What is Forrest Preston's current global rank among billionaires?

Forrest Preston holds the 2487th position globally among billionaires.

What is Forrest Preston's current ranking within the United States?

Forrest Preston holds the 775th position in United States.

What was the change in Forrest Preston's net worth compared to the previous year?

Forrest Preston's net worth decreased by 48.44 million dollars compared to the previous year 2025, when his net worth was 1.61 billion dollars.

What are Forrest Preston's main sources of wealth?

Forrest Preston's main source of income comes from Health Care.

In which industry does Forrest Preston primarily operate?

Forrest Preston is primarily involved in the Healthcare industry.

What is Forrest Preston educational background?

Forrest Preston holds a Oregon State University and a Walla Walla College.

How old is Forrest Preston?

Forrest Preston is 93 years old.

How many children does Forrest Preston have?

Forrest Preston has 4 children.

Who is Forrest Lee Preston and what is he known for?

Forrest Lee Preston, born on March 22, 1933, in Massachusetts, is the founder, owner, chairman, and CEO of Life Care Centers of America, a leading long-term elderly care company established in 1970.

What was Forrest Lee Preston's early career before founding Life Care Centers of America?

Before founding Life Care Centers of America, Forrest Lee Preston intended to become a medical doctor, became a certified X-Ray technician, and co-founded Hospital Publications with his brother, focusing on creating patient booklets and public relations materials for hospitals.

How did Forrest Lee Preston contribute to the long-term care industry?

Forrest Lee Preston revolutionized the long-term care industry by founding Life Care Centers of America in 1970, observing the conditions of elderly patients in hospitals and identifying the need for better care, eventually growing the company into the largest privately owned long-term care facility chain in the U.S.

What are some personal details about Forrest Lee Preston's life?

Forrest Lee Preston, son of a Seventh-day Adventist pastor, married Kathleen Marchant in 1936 and lived with her until her death in 2017. He resides in Cleveland, Tennessee, is Baptist by faith, and attends First Baptist Church in Cleveland. His estimated net worth as of September 2015 was US$2.1 billion.