Forrest Preston Net Worth

Forrest Preston has an estimated net worth of $1.6 billion, according to Forbes Real-Time Billionaires, Forrest Preston profile (figures as of October 20, 2026). That is up from $1.5 billion in 2019.

Forrest Preston is an American businessman known for building Life Care Centers of America. He founded the long-term elderly care company in 1970 in Cleveland, Tennessee, and remains its sole owner and CEO. Before that, he sold vacuum cleaners, worked as an X-ray technician, and ran a printing business with his brother. His first care facility, once called Garden Terrace Convalescent Center, is still operating in Cleveland, Tennessee.

His wealth comes from the private healthcare company he built over decades. Life Care Centers of America runs over 200 nursing homes, assisted living facilities, and retirement living communities across 27 states. Preston also served as chairman as the business expanded into one of the biggest privately owned long-term care operators in the country. Forbes put his net worth at $1.6 billion on its real-time billionaires tracker as of October 20, 2026.

How Forrest Preston built his fortune

Preston made his money in healthcare, mainly through Life Care Centers of America. He started the company in 1970 after earlier jobs in sales, hospital work, and printing. Those experiences helped shape his move into long-term care. He saw a need for better options for older patients and opened his first facility in Cleveland, Tennessee. That location stayed part of the business as the company grew.

The company remained private, and Preston kept full control as sole owner and CEO. Life Care Centers of America is based in Cleveland, Tennessee, and operates over 200 properties in 27 states. Its network includes nursing homes, assisted living facilities, and retirement living communities. Because Preston owns the business rather than just a small stake, the company itself is the main source of his billionaire wealth.

Forbes net worth over time

Forbes values have moved up and down over the years. On the World's Billionaires List, Preston was estimated at $1.5 billion in 2019, then $1.2 billion in 2020 and $1.1 billion in 2021. The estimate later rose to $1.3 billion in 2022, then moved to $1.2 billion in 2023 and $1.1 billion in 2024. Those swings track changes in how Forbes valued his privately held healthcare business.

The estimate turned higher again after 2024. Forbes placed Preston at $1.2 billion in 2025, then at $1.8 billion on the 2026 World's Billionaires List. Its real-time tracker later showed $1.6 billion in October 2026. Since his fortune is tied to a private elder-care company that he fully owns, shifts in the Forbes figure likely reflect changing views of that business rather than stock market moves.