Forrest Preston

About Forrest Preston

Birth Day: March 22, 1933
Birth Place: Cleveland, Tennessee, United States
Birth Sign: Aries
Residence: Cleveland, Tennessee, US
Alma mater: Walla Walla College Oregon State University
Spouse(s): Kathleen Marchant

Forrest Preston


Healthcare

Forrest Preston is a member of Healthcare born on March 22, 1933 in Cleveland, Tennessee, United States. At age 85 Forrest Preston net worth is approximately $1.43 Billion. Forrest Preston made a fortune capitalizing on America's aging population. His privately held Life Care Centers of America brought in an estimated $3 billion in 2015 revenue from nursing homes, assisted living facilities and retirement living communities in 28 states.

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💰 Net worth: $1.43 Billion

2014 $2 Billion
2015 $2.1 Billion
2016 $1.7 Billion
2017 $1.4 Billion
2018 $1.43 Billion

Biography/Timeline

1936

Preston was married to Kathleen Marchant (1936-2017) until her death. He lives in Cleveland. His residence is located in the Anatole subdivision off of U.S. 11 near the residence of fellow businessman Allan Jones. He is of the Baptist faith, and attends First Baptist Church in Cleveland.

1950

Preston moved to Cleveland, Tennessee in the late 1950s a few years after his brother Winton Russell Preston, who had come to study at Southern Missionary College, now Southern Adventist University in nearby Collegedale.

1970

In 1970, Preston founded Life Care Centers of America in Cleveland, and is the sole owner, chairman and CEO. It later grew to be the largest privately owned long term care facility chain and the third largest privately owned long-term care facility in the United States.

1972

Together with his brother Winton, he co-founded a company called Hospital Publications to create patient booklets and public relations materials for hospitals, and the company operated until 1972. The idea had come from his work in hospitals, where he concluded that there was a need for better public relations in the Health care system. Through this Business, he observed the conditions of elderly patients in hospitals, and concluded that there was a need for better long term care.

1994

Forrest Lee Preston was born and grew up in Massachusetts, the son of a Seventh-day Adventist pastor Father, Benjamin M. Preston and his wife Ethel Preston. His Father died in 1994, and Preston endowed the Benjamin M. Preston scholarship at Atlantic Union College, of which his Father was an alumnus.

2015

As of September 2015, he had a net worth of US$2.1 billion.

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