Forrest Preston Net Worth: Life Care Centers of America is a non-profit organization with Forrest L. Preston as its chairman of the board of directors, founder, and only shareholder. He has a wide range of expertise in the fields of marketing, PR, healthcare and insurance.
Since 1970, he has worked full-time in the healthcare industry, managing and building hospitals, clinics, assisted living centers, and retirement complexes. He attended Walla Walla College, Oregon State University, and the California College of Medical Technology for his formal education.
Among his many notable professional accomplishments are his roles as co-founder and president of Hospital Publications Inc. and as a co-founder, stockholder, and corporate officer (until early 1986) of Consolidated Resources Corporation.
Forrest Preston Career
In the late 1950s, Preston followed his brother Winton Russell Preston to Cleveland, Tennessee so that both could attend Southern Missionary College in neighboring Collegedale.
He and his brother Winton formed Hospital Publications, which produced pamphlets for hospital patients and other forms of hospital PR until 1972.
The inspiration for this idea came from his time spent working in hospitals, where he noticed a glaring lack of positive PR for the healthcare industry. Through this work, he saw the plight of the elderly in hospitals and came to the conclusion that there was a demand for more humane long-term care options.
Preston established Life Care Centers of America in Cleveland in 1970, and he continues to serve as the company’s sole owner, chairman, and chief executive officer until this day. Over time, it expanded to become a massive network of care centers, the third largest LTC provider in the US.
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What is Forrest Preston Net Worth?
The American entrepreneur and businessman Forrest Preston net worth is $2 billion. Self-made billionaire Forrest Preston got his start in the healthcare business. One of the major healthcare management organizations in the United States, Life Care Centers of America, is owned entirely by him, and he serves as the company’s Chairman of the Board.
The organization manages multiple types of senior housing, including nursing homes and retirement complexes. In 1970, Preston established the Garden Terrace Convalescent Center in Cleveland, Tennessee. He established the management firm Life Care Centers of America in 1976.
The corporation rakes in an estimated $3 billion annually. Preston also has a hand in the television industry through his involvement with Luken Communications. Preston received $10 million in cash for the sale of 13 home health firms to LHC Group. By 2014 standards, he was the 364th richest person in the USA.
Early Life Of Forrest Preston
Forrest Lee Preston was raised in Massachusetts by his Seventh-day Adventist pastor father, Benjamin M. Preston, and his mother, Ethel Preston. After his passing in 1994, Preston established the Benjamin M. Preston scholarship to honor his father’s legacy as a student at Atlantic Union College.
His academic background includes both Walla Walla College and Oregon State University. His goal all along was to become a doctor, but he ended up as an X-ray technician instead.
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Forrest Preston’s Personal Life
Forrest and Kathleen Preston had three kids and a daughter, but he had to put his career on hold to care for her after she had a stroke a few years ago. At the age of eighty, she passed away in January 2017.
He’s recently become a widower and now lives in Cleveland, Tennessee. In the wake of his father’s passing, he established the Benjamin M. Preston Scholarship at Atlantic Union College.
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