Forrest Preston was bornon 22 March 1933 in Cleveland, Tennessee, United States. Forrest Preston is #1583 in List Billionaires People In The World. 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. He founded the business in 1970 and remains its sole owner. In October 2016, the company agreed to pay $145 million to settle a government lawsuit alleging that the firm had knowingly over-billed Medicare and another federal healthcare program. The litigation stemmed from whisteblower complaints filed by two former Life Care employees in 2008. The has company denied any wrongdoing. Preston also has a stake in Luken Communications, owner of seven broadcast networks, which exited bankruptcy in October 2014. Preston lives in Cleveland, Tenn., where Life Care is based. Before founding the company, he sold vacuum cleaners, worked as an X-ray technician and ran a printing business with his brother.
His father died in 1994, and Preston endowed the Benjamin M
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
In 1970, Preston founded Life Care Centers of America in Cleveland, and is the sole owner, chairman and CEO
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
Preston was married to Kathleen Marchant (1936-2017) until her death
Forrest Lee Preston (born March 22, 1933) is an American billionaire businessman from Massachusetts