Thomas Frist, Jr.’s profile picture

Thomas Frist, Jr.

Thomas Frist, Jr.’s profile picture
Net worth 2018: $9.77 Billion
Industry: Health care
Residence: Nashville, Tennessee
Country: United States
BirthDay: 12 August 1938
Sigh: Virgo
Children: 3
Education: Bachelor of Arts / Science, Vanderbilt University; Medical Doctor, Washington University
BIOGRAPHY

Thomas Frist, Jr. was bornon 12 August 1938 in Nashville, Tennessee, United States. Thomas Frist, Jr. is #166 in List Billionaires People In The World. Thomas Frist Jr., a former Air Force flight surgeon, founded Hospital Corp. of America with his father in 1968. He took it public for the third time in 2011 after two management buyouts. Frist Jr. doesn't have an executive position at HCA, but his sons Thomas III and William are board members. HCA owns and operates over 170 hospitals in 20 U.S. states and London. In April 2016, HCA settled a shareholder lawsuit for $215 million stemming from the 2011 IPO, and also agreed to review its governance structure.

NET WORTH STATISTIC
2009

$2 Billion

2010

$3.6 Billion

2011

$2.8 Billion

2012

$4 Billion

2013

$5 Billion

2014

$7.6 Billion

2015

$8.7 Billion

2016

$7.9 Billion

2017

$8.8 Billion

2018

$9.77 Billion

You always win when you surround yourself with good people.

Thomas Frist, Jr.
TIMELINE
Thomas Fearn Frist Jr. (born August 12, 1938) is an American billionaire physician and businessman. He is a co-founder of the Hospital Corporation of America, and the wealthiest person in Tennessee.Thomas F. Frist Jr. was born on August 12, 1938. His father was Thomas F. Frist Sr., a prominent internal medicine specialist in Nashville. His mother was Dorothy Cate. He has four siblings: physician and U.S. Senator Bill Frist; Dr. Robert A. Frist; Dorothy F. Boensch; and Mary F. Barfield.Frist grew up in Belle Meade on the west side of Nashville. He attended Montgomery Bell Academy, a Nashville prep school for boys. In 1956, Frist played quarterback for MBA's state championship football team. Frist's halfback on the team was Frank Drowota, who became the chief Justice of the Tennessee Supreme Court. Frist graduated from Vanderbilt University and received an MD from Washington University in St. Louis. He was a brother of the Vanderbilt chapter of Phi Delta Theta. He served as a flight surgeon in the United States Air Force.In 1968, he co-founded the Hospital Corporation of America with his father, Thomas F. Frist Sr., and Jack C. Massey.In 1977, he became president of HCA and, in 1987, chairman, president and chief executive officer (CEO). He served as chairman in 1994, after the merger with Columbia, and after the merger with HealthTrust Inc. in April 1995, as vice chairman. He returned as chairman and CEO of the company in 1997 after the resignation of Rick Scott.He was chairman and CEO until January 2001 and chairman until January 2002. In 2006, he took private equity investments in Bain Capital, Kohlberg Kravis Roberts and Merrill Lynch for $21 billion. He holds the record for the biggest leveraged buyout of all time and biggest PE-led IPO of all time. In 2009, he stepped down from the board of directors, and his son, Billy Frist, joined the board. Frist was replaced as Chairman by Jack Bovender.From 1984-95, he served on the board of Ddirectors of IBM. He was the chair of the Nashville Area Chamber of Commerce from 1999-2000. He is a member of The Business Council. In 2008, he co-founded the China Healthcare Corporation with Charles A. Elcan. They have business interests in Cixi, China. He is president of Okeechobee Hospital Inc. and Galen Of Florida Inc.Frist is president of Tomco II LLC, an aircraft company. In 2000, Scott Mercy, chairman and CEO of LifePoint Hospitals Inc. and chairman of America Service Group Inc., died in a crash. Similarly, in 2006, another aircraft belonging to Frist crashed.He was inducted into the Healthcare Hall of Fame. He served as vice president of the Vanderbilt University board of trust from 1995 to 1997. He is a recipient of the distinguished graduates award of Vanderbilt University. He is chairman of the Frist Foundation and the Frist Center for the Visual Arts. He is a member of the Nashville Public Library Foundation.He was a co-founder of the United Way Alexis de Tocqueville Society. He also served as chair of the board of governors for United Way of America. The Dr. Thomas F. Frist Jr. Excellence in Volunteer Leadership Award of the United Way was established in 1996. In 2012, he received the United Way Lifetime Achievement Award.Frist is married to Patricia C. Frist, and he has three children. They reside in an $18-million house in Belle Meade, Tennessee. They have two sons, Thomas F. Frist, III and William R. Frist, and a daughter, Patricia Frist Elcan, who is married to investor Charles A. Elcan.He is the wealthiest person in Tennessee, with an estimated wealth of $8.1 billion.
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