D r. Thomas Frist Jr. is a self-made American billionaire who revolutionized the healthcare industry as the co-founder of HCA Healthcare (Hospital Corporation of America). A former Air Force flight surgeon, he co-founded the company in 1968 with his father, Thomas Frist Sr., and Jack C. Massey. Their idea was to create a for-profit, investor-owned hospital chain that could bring modern business management principles to the traditionally non-profit hospital sector.

This business model was a massive success, and HCA grew into the largest for-profit hospital operator in the United States, with a vast network of hospitals and surgery centers across the country and in the UK. Frist has been a key leader at the company for decades, serving as its CEO and chairman. The company has gone through several leveraged buyouts and public offerings over the years, deals in which Frist has been a central figure. His vast fortune is derived from his substantial founding stake in the company he helped create. He is considered one of the wealthiest doctors in the world.