The index, which ranks the world’s 500 wealthiest individuals across industries, features six leaders from U.S. healthcare.
Among them, Dr. Frist stands at the top with an estimated net worth of $29 billion, reflecting a year-to-date increase of $1.31 billion. Over the past year, his fortune has surged by approximately $7 billion, marking a new record high in 2024.
Dr. Frist co-founded Nashville, Tenn.-based HCA Healthcare alongside his father in the 1960s. HCA, one of the largest for-profit hospital operators in the country, has since grown into a healthcare giant, overseeing 186 hospitals and more than 2,400 care sites across the U.S. and the U.K.
Before his tenure at HCA, Dr. Frist served as a flight surgeon in the U.S. Air Force. He also founded United Way’s Alexis de Tocqueville Society.
Under his guidance, HCA went public multiple times, including its most recent public offering in 2011, following two management buyouts.
Though Dr. Frist no longer holds an executive role at HCA, his family retains more than a 25% ownership stake in the organization, and his sons continue to serve on its board of directors.
HCA Healthcare reported a net income of $5.8 billion in 2024, reflecting a 9.9% increase from $5.2 billion in 2023. The company also recorded an operating income of $8.5 billion, with a 12.1% operating margin, up from $7.7 billion (11.9% margin) the previous year.
HCA Healthcare is also one of the largest ASC operators in the U.S., managing its surgery centers under the Surgery Ventures division. By the end of 2024, the organization operated 124 ASCs, averaging approximately 14 outpatient facilities per hospital.
