Billionaire Profile

Global Rank

#49

Image: Public domain | via Wikimedia Commons

Thomas Frist Jr & family

CEO, HCA Healthcare

Real-Time Net Worth

$39.6B

As of December 2025

Age

Source

Hospitals

Industry

healthcare

Citizenship

Biography

Thomas Fearn Frist Jr. (born August 12, 1938) is an American billionaire physician and businessman. He is the co-founder of HCA Healthcare, the largest for-profit hospital chain in the United States, and is the wealthiest person in Tennessee. Frist's career began in healthcare after serving as a flight surgeon in the U.S. Air Force. In 1968, he co-founded Hospital Corporation of America (HCA) with his father, Dr. Thomas Frist Sr., and businessman Jack C. Massey. This innovative venture revolutionized hospital management. Over the years, he oversaw HCA's growth through acquisitions and public offerings. His estimated net worth is $39.6 billion, primarily from his stake in HCA Healthcare. Frist has also been actively involved in philanthropy, establishing the Frist Foundation and supporting various charitable causes.

Wealth Over Time

Portfolio Holdings

HCA Healthcare

In-Depth Profile

Early Life

Thomas Fearn Frist Jr. was born on August 12, 1938, in Nashville, Tennessee. He is the son of Dr. Thomas F. Frist Sr., a prominent internal medicine specialist, and Dorothy Cate Frist. Frist grew up in Belle Meade, a suburb of Nashville. He attended Montgomery Bell Academy, where he played quarterback for the state championship football team in 1956.

Rise to Success

Frist earned a Bachelor of Arts from Vanderbilt University in 1961 and an M.D. from Washington University School of Medicine in 1965. He served as a flight surgeon in the U.S. Air Force during the Vietnam War era. In 1968, he co-founded HCA with his father and Jack C. Massey. He served in various leadership roles including President, CEO, and Chairman of HCA. He remains Chairman Emeritus.

Key Business Strategies

Frist's vision was to create a healthcare system that centralized hospital management, improving efficiency and patient care. Under his leadership, HCA expanded rapidly, acquiring and managing hospitals across the nation. He was instrumental in taking the company public multiple times.

Philanthropy

Frist is deeply involved in philanthropy, having established the Frist Foundation, supporting healthcare, education, and the visual arts. He also founded the Alexis de Tocqueville Society for the United Way. He is a board member for several organizations, including the Nashville Public Library Foundation.

Career Milestones

1961

Graduated from Vanderbilt University

Earned a Bachelor of Arts degree.

1965

Graduated from Washington University School of Medicine

Received a Doctor of Medicine degree.

1968

Co-founded Hospital Corporation of America (HCA)

Established a new model for hospital care.

1977

Became President of HCA

Took on leadership role within the company.

1987

Took on additional roles of Chairman and CEO of HCA

Expanded his leadership within the organization.

2009

Stepped down from Board of Directors

Remained Chairman Emeritus.

Philanthropy & Social Impact

Healthcare, Education, Arts

Frist Foundation

Undisclosed

Supports healthcare, education, and the visual arts.

Philanthropy

Alexis de Tocqueville Society

Undisclosed

Founded for donors to the United Way.

Arts

Frist Center for the Visual Arts

Undisclosed

Lead gift to establish Nashville's Frist Art Museum.

Business Philosophy & Leadership

Notable Quotes

"Don't worry about the bottom line. Put the patient first, and the rest will follow."

Leadership Principles

Patient-Focused Care

Prioritizing the well-being and care of patients above all else.

Physician-Driven Excellence

Empowering physicians and healthcare professionals to deliver the best possible care.

Philanthropic Engagement

Contributing to the community through various charitable initiatives.

Controversies & Challenges

1997-2003

Medicare Fraud Investigations

HCA faced extensive investigations leading to admissions of felony charges for Medicare fraud, inflated billing, and other violations, resulting in civil and criminal penalties exceeding $1.7 billion.