Thomas Frist, Jr. Net WorthReal Name: Thomas Frist, Jr.
Date of Birth: 08/12/1938
Place of Birth: Nashville, Tennessee
2017 Net Worth: $7.6 Billion
2016 Earnings: $62.5 Million
Profession: Businessman, Co-founder of the Hospital Corporation of America
Thomas Frist, Jr. Biography
Thomas Frist, Jr. was born in Nashville, Tennessee in August of 1938. He attended Vanderbilt University and graduated with a master’s degree from Washington University in St. Louis. He first worked as a surgeon in the United States Air Force.
Frist founded the Hospital Corporation of America, along with his father and Jack C. Massey, in 1968. Within 10 years he became the President of his own company, and in the following 10 years, he became the Chairman, President, and Chief Executive Officer. HCA merged with Health Trust Inc. in 1994 and in 1995, Frist was Vice President. Frist served as CEO until January of 2001 and Chairman until 2002.
Frist also co-founded China Healthcare Corporation in 2008 along with Charles A. Elcan. This 500 bed hospital was built in conjunction with the government. He still sits as President of Okeechobee Hospital Inc., and Galen of Florida Inc. Frist is also President of Tomco II, a company that builds airplanes. He has been inducted into the Healthcare Hall of Fame and is a recipient of the Distinguished Graduates Award of Vanderbilt University.
Frist is well diversified and has private equity investments in Bain Capital, Kohlberg Kravis Roberts, and Merrill Lynch to the tune of about $21 billion. Frist holds the record for the biggest leveraged buyout ever. He has since stepped down from the Board of Directors while his son, Billy, has taken a place on the board. Frist owns an $18 million estate in Belle Meade, Tennessee and is the richest person in Nashville.
Frist has been one of the largest beneficiaries of President Obamas Affordable Care Act. In fact Obamacare has made his personal fortune rise by more than $1.5 billion, along with shares of his hospital conglomerate, HCA Holding. With a current net worth of $7.6 billion and the Affordable Care Act still going strong, Frist’s earnings are sure to increase substantially in the coming year.