Ever since Theranos shuttered its operations, people have wondered what happened to Elizabeth Holmes’ net worth. The former CEO and founder of the now-defunct Silicon Valley health technology company was once the world’s youngest self-made billionaire women. But now, Elizabeth Holmes’ net worth looks awfully different.
Holmes was born on February 3, 1984, in Washington, D.C. Her mom, Noel, was a Congressional committee staffer, whereas her dad, Christian, was a vice president at the energy giant Enron before moving onto government positions at agencies like USAID. When she was a child, Holmes and her family moved from Washington, D.C. to Houston, Texas. Even at an early age, Holmes had an instinct for invention, often filling up entire notebooks with drafts for plans and designs. “What I really want out of life is to discover something new, something that mankind didn’t know was possible to do,” she wrote in a letter to her father when she was just nine years old.
Throughout high school, Holmes had a habit of staying up late to study on a regular basis. She soon rose to the top of her class and even launched her own business, selling C++ compilers (software that interprets computer code) to Chinese schools. Holmes began taking Mandarin courses in high school and convinced Stanford University to admit her into their summer program, which ended in a trip to Beijing.
It was around this time that Holmes decided she wanted to pursue medicine like her great-great-grandfather, a surgeon. However, she quickly realized that she was afraid of needles. Later, Holmes revealed that this is what inspired her to launch her company, Theranos, which sought to revolutionize blood testing with technology that purportedly required only a finger pinprick to detect medical conditions from cancer to high cholesterol.
AP Images.
Following her summer program with Stanford, Holmes decided to enroll at the university as a chemical engineering major in college. She spent the summer after her freshman year interning at the Genome Institute in Singapore, where she tested blood samples for SARS-CoV-1. As a sophom*ore, she filed her first patent application for a wearable drug-delivery patch and founded her company, Real-Time Cures, which would later become what was commonly known as Theranos. By the next semester, she had dropped out of Stanford entirely to pursue her work with Theranos full time.
Of course, this was just the beginning, and Elizabeth Holmes’ net worth would soon begin to soar; at least before it plummeted once again. For everything we know about what happened to Elizabeth Holmes’ net worth—from how much she stole over the years, to how much she’s worth today—just keep on reading ahead.
How much money did Elizabeth Holmes steal?
After launching Theranos, Holmes was introduced to venture capitalists through her former Stanford advisor, Channing Roberston. The young entrepreneur quickly began to secure funding from prominent investors, raising around $6 million in venture capital by the end of 2004. Over the course of the next decade, it is believed Holmes amassed over $700 million in funding for Theranos.
For years, Theranos was shrouded in secrecy; there was no public company website or press releases, and investors were not given any details about how her technology really worked. It wasn’t until 2013 that the public face of Theranos grew when it partnered with Walgreens to establish in-store blood sample collection centers. It was around this time that Holmes started making headlines: she gave talks, spoke on panels and graced the covers of FortuneandForbes, which named her the youngest self-made woman billionaire at the age of 30. Her company, Theranos, had a reported valuation of $9 billion at its peak.
But something wasn’t quite adding up. Ian Gibbons, Theranos’ chief scientist and one of the company’s earliest hires, found flaws in the company technology and expressed concerns to Holmes that tests weren’t ready for the general public to use, according to aVanity Fair investigative report by Nick Bilton. Outside experts also began to share their reservations about Theranos. These doubts came to a head in 2015, when medical research professor John Ioannidis, and later Eleftherios Diamandis, questioned the validity of her company’s technology.
Later that year,Wall Street Journal reporter John Carreyrou published a damning investigative report into Theranos, which alleged that the company’s blood-testing machine, Edison, was not capable of providing accurate testing results. Instead, Theranos was using traditional blood testing machines to run its tests. It is alleged that Holmes knew, yet continued to lie to her investors, doctors and patients in an effort to raise capital.
Following theWSJreport, the FDA launched an investigation into Theranos. The 2015 investigation resulted in multiple observed violations of FDA Title 21 Regulations. By January of 2016, the Centers for Medicare and Medicaid Services also launched an investigation into a Theranos laboratory in Newark, California, where they uncovered irregularities in testing. Months later, CMS officially banned Holmes from owning or operating a clinical blood-testing laboratory for two years. In the years to come,Theranos continued to face a string of legal challenges and sanctions from multiple medical authorities, state and federal organizations, investors and patients. After years of lawsuits, what remained of the company was dissolved in September 2018.
What is Elizabeth Holmes’ net worth?
So, what is Elizabeth Holmes’ net worth today? After the fall of Theranos, Elizabeth Holmes’ net worth went from a reported $4.5 billion to $0 as of 2022, according to Forbes. The former company’s founder and CEO was also charged with fraud by the U.S. Securities and Exchange Commission (SEC), alongside former company president Ramesh “Sunny” Balwani in 2018. That same year, the United States Attorney for the Northern District of California announced the indictment of Holmes and Balwani on wire fraud and conspiracy charges.
Holmes’ trial was originally scheduled to begin in August 2020, but was delayed following her pregnancy. Her trial began a year later in August 2021. On January 3, 2022, Holmes was found guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud. Each count carries a maximum sentence of 20 years and a $250,000 fine, meaning Holmes faces up to 80 years behind bars and a $1 million fine. As of March 2022, Holmes is out on bail awaiting sentencing in September 2022.
Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou
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For more about Elizabeth Holmes, check out Wall Street Journal reporter John Careyrou’s 2018 book, Bad Blood: Secrets and Lies in a Silicon Valley Startup. The book—which The New York Times described as “chilling” and said “reads like a thriller”—tells the story of Elizabeth Holmes, a health tech entrepreneur who was seen as the Steve Jobs, and her company, Theranos, startup that raised more than $9 billion in funding and promised to revolutionize the medical industry through single-drop blood tests. The national bestseller follows Holmes as she allegedly defrauded investors and put patients at risk with misdiagnoses and unnecessary treatments through her defective technology. The book also investigates how Holmes and her partner, Sunny Balwani, worked to silence anyone who voiced their criticism—including Theranos’ own employees.
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What is Elizabeth Holmes' net worth? So, what is Elizabeth Holmes' net worth today? After the fall of Theranos
Theranos
The company announced that about 1% of test results had been voided or corrected from its proprietary machines in June 2016. Within two weeks, Walgreens formally terminated its partnership with Theranos and would close all remaining Theranos wellness centers.
Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
What is Holmes' stake in Theranos? At the time, Holmes owned a 50% stake in Theranos, a company that was founded in 2003 and was solely private investors who at the time purchased the aforementioned stakes at a company valuation of approximately $9 billion.
Story: Big name investors among Theranos biggest losers
For instance, the Wall Street Journal reported, the Devos family lost an estimated $100 million in their investment while Murdoch lost $125 million and the Walton family lost $150 million.
In June, the companies reached a tentative settlement in which Theranos would pay Walgreens less than $30 million, people familiar with the deal told The Wall Street Journal.
The technology didn't exist. Theranos, despite all its flashy promises, wasn't actually able to run tests accurately in its device on a single drop of blood. Two years after the company closed its labs, its charismatic founder Elizabeth Holmes and former company president Sunny Balwani were indicted for fraud.
The Dropout, a Hulu series, portrays about Elizabeth Holmes and demise of her health-tech business, Theranos, as a consequence of two whistleblowers, Erika Cheung and Tyler Shultz. Both Cheung and Shultz were whistleblowers at Theranos, as depicted in The Dropout, a Hulu series about Holmes and her firm Theranos.
Now Theranos is losing another partner amid growing pushback, as grocery store giant Safeway ($SWY) is severing its ties with the company after a $350 million deal fizzled out.
Having invested $150 million, the Walton family heirs of the Walmart founder have the dubious honor of being the biggest investor in Theranos, The Wall Street Journal reports. The family is one of four investors to put more than $100 million into the company.
Nearly a decade ago, Holmes raised $945 million from high-profile investors including the family of former Education Secretary Betsy DeVos, Rupert Murdoch and the Walton family of Walmart fame.
Theranos ultimately opened more than 40 Wellness Centers in Arizona, Pennsylvania, and California. Most were located inside of Walgreens in the Phoenix area.
“This was one of the most exciting companies that we had seen, maybe not just in lab but in general,” Mr. Miquelon said. The relationship unraveled after Theranos missed key partnership deadlines, culminating in a lawsuit filed by Walgreens in 2016 alleging Theranos misled it about the startup's technology.
A Wall Street Journal article published in 2016 detailed how Walgreens invested $50 million in Theranos before eventually abandoning their deal. It also details how Walgreens made its deal “without fully validating” Theranos' technology over fears that Elizabeth would walk away.
Holmes has never addressed these claims, but her family told TMZ that Holmes has a naturally deep voice that sometimes gets higher “when she gets excited or passionate.” If Holmes's voice really was a part of her grift, it seems like it required a lot of work.
At the age of 31, Elizabeth has joined the list of Warren Buffett, Steve Jobs, Mark Zuckerberg and others. Elizabeth is the world's youngest self-made female billionaire. A genius from childhood, Elizabeth learnt Mandarin language during her high schooling.
Tyler Shultz, a former Theranos Inc. employee and whistleblower, shared his relief Monday night that the company's founder, Elizabeth Holmes, had been convicted of fraud. “This has been a long chapter of my life.
The whistleblower may receive a reward of 10 percent to 30 percent of what the government recovers, if the SEC recovers more than $1 million. The SEC may increase the whistleblower award based on many factors, such as: How important the information that the whistleblower provided was to the enforcement action.
Theranos whistleblower welcomes the guilty verdict against Elizabeth Holmes Ex-CEO Elizabeth Holmes was found guilty of fraud. Tyler Schultz, a whistleblower who helped sound the alarm over the company's technology, says it cost him his relationship with his grandfather.
Nearly a decade ago, Holmes raised $945 million from high-profile investors including the family of former Education Secretary Betsy DeVos, Rupert Murdoch and the Walton family of Walmart fame.
The technology didn't exist. Theranos, despite all its flashy promises, wasn't actually able to run tests accurately in its device on a single drop of blood. Two years after the company closed its labs, its charismatic founder Elizabeth Holmes and former company president Sunny Balwani were indicted for fraud.
While the government argued Theranos hemorrhaged money while its founder painted rosy pictures for investors, Elizabeth Holmes' lawyer said the money was being poured into research and development — a common practice for Silicon Valley startups.
The Dropout, a Hulu series, portrays about Elizabeth Holmes and demise of her health-tech business, Theranos, as a consequence of two whistleblowers, Erika Cheung and Tyler Shultz. Both Cheung and Shultz were whistleblowers at Theranos, as depicted in The Dropout, a Hulu series about Holmes and her firm Theranos.
Holmes has never addressed these claims, but her family told TMZ that Holmes has a naturally deep voice that sometimes gets higher “when she gets excited or passionate.” If Holmes's voice really was a part of her grift, it seems like it required a lot of work.
At the age of 31, Elizabeth has joined the list of Warren Buffett, Steve Jobs, Mark Zuckerberg and others. Elizabeth is the world's youngest self-made female billionaire. A genius from childhood, Elizabeth learnt Mandarin language during her high schooling.
Now Theranos is losing another partner amid growing pushback, as grocery store giant Safeway ($SWY) is severing its ties with the company after a $350 million deal fizzled out.
Now, the documents have been unsealed. Having invested $150 million, the Walton family heirs of the Walmart founder have the dubious honor of being the biggest investor in Theranos, The Wall Street Journal reports. The family is one of four investors to put more than $100 million into the company.
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