What is the net worth of Elizabeth Holmes?
Elizabeth Holmes net worth is around US$ 0.
| Net Worth | US$ 0 |
| Previous Net Worth | US$ 4.5 Billion |
| Born | February 3, 1984 |
| Full Name | Elizabeth Anne Holmes |
| Gender | Female |
| Height | 5′ 7” |
| Horoscope | Aquarius |
| Country of Origin | Washington, D.C., US |
| Source of Wealth | Business; Theranos (previously) |
| Marital Status | Married |
| Spouse | Billy Evans (m. 2019) |
| Nationality | American |
| Famous For | Founder of Theranos. Facing legal charges for fraud. |
Elizabeth Holmes: Rise and Fall of a Once-Billionaire
Introduction
Elizabeth Holmes was once a household name, known for her innovative startup, Theranos. She promised, as CEO of the biotech company she led, to revolutionize the medical industry with just a drop of blood. However, it all came crashing down when investigations revealed that her technology did not work as promised. This led to lawsuits and fraud charges as a result Theranos was eventually shut down. This article explores Elizabeth Holmes’s wealth, her journey as a billionaire, to a court battle and everything in-between.
Who is Elizabeth Holmes?
Elizabeth Holmes was born on February 3, 1984 in Washington, D.C. She was raised in Houston, Texas, and attended St. John’s School, a prestigious prep school. She enrolled in Stanford University to study chemical engineer but dropped out of the program after her first year to pursue her entrepreneurial ambitions. .
Elizabeth Holmes’s Net Worth
Elizabeth Holmes’s net worth was once estimated at US$ 4.5 billion but as of 2023 her net worth is estimated to be US$ 0 due to facing legal charges for fraud . In 2015, Theranos was valued at US$ 9 Billion, and Holmes held 50% of the company. She became the youngest female self-made billionaire in the world. However, her downfall was equally as steep.
The Rise and Fall Of Theranos
The Beginning
In 2003, Elizabeth Holmes dropped out of Stanford University and founded Theranos. She wanted to develop a device which could run multiple blood tests with just a few droplets of blood instead of the vials of blood required for conventional testing. She was able to convince high-profile investors like Rupert Murdoch, Betsy DeVos and others to invest millions of dollars into her venture.
The Promise
Theranos promised that its technology would make blood tests more convenient and accessible, as well as faster turnaround times and lower costs. The company claimed their device named “Edison” could perform over 200 tests on a single blood of drop, which would change the landscape of the healthcare industry.
The Reality
The reality, however, was not as advertised. After investigations by the Wall Street Journal and the Centers for Medicare and Medicaid Services, it was revealed that the technology did not work as advertised. Theranos also misled customers and investors by claiming that their technology was being used by the military in Afghanistan and on patients in clinical trials when that was not the case.
The Fallout
The consequences were swift and severe. Elizabeth Holmes, who was charged with multiple counts of fraud in 2018 and conspiracy, could face up to 20-years in prison. Theranos’ assets were liquidated, and the company was dissolved. Investors lost millions, and customers were left with inaccurate test results.
How Elizabeth Holmes Lost her Billionaire Status
Elizabeth Holmes’s wealth took a huge hit with the failure of Theranos. Forbes downgraded Elizabeth Holmes’s net worth in 2016 from US$ 4.5 billion all the way to zero. She had to surrender her ownership in the company that was later dissolved.
Elizabeth Holmes’ Legal Battle
Elizabeth Holmes’s net worth is not the only thing that is at stake. She is currently facing multiple counts of fraud and conspiracy, with her trial scheduled. If convicted, she could face up to 20 years in prison.
Key Players in the Trial
Many high-profile people have been involved in the criminal trial of Elizabeth Holmes, including the media. Here are some key players involved in the trial:
Elizabeth Holmes
As the founder and former CEO of Theranos, Elizabeth Holmes is the central figure in the trial. She has pleaded not guilty to all charges and is expected to testify in her own defense.
Sunny Balwani
Sunny Balwani, the former COO and president of Theranos, and was romantically involved with Holmes throughout the rise and fall of the company. He has also pleaded not guilty to all the charges and will be tried separately from Holmes.
John Carreyrou
John Carreyrou, a Pulitzer Prize winning journalist, broke the story about Theranos in a series articles for The Wall Street Journal. Since then, he has written a book on the scandal called “Bad Blood”: Secrets and Lies In A Silicon Valley Startup,” which is a key piece of evidence in the trial.
David Boies
David Boies, a prominent lawyer who represents Theranos on its legal battles, is a key player in the scandal. He was accused of attempting to intimidate journalists and whistle-blowers who were investigating Theranos.
The Trial So Far
The trial of Elizabeth Holmes began in September 2021 and is expected to last for several years. Here are some of the key events and developments in the trial so far:
Jury Selection
The process for selecting a jury to hear the case began on August 31st, 2021 and lasted several weeks. The jury is made up of 12 people and three alternates.
Opening Statements
The prosecution and defense gave their opening statements in early September. The prosecution presented its case against Holmes. They accused her of defrauding investors and patients out of millions of dollars. The defense claimed that Holmes genuinely believed in the technology, and that she had no intention to defraud anyone.
The Future of the Trial
The trial of Elizabeth Holmes is ongoing, and it is unclear what the outcome will be. Holmes and Balwani, if convicted of each count of conspiracy and wire fraud, could be sentenced to up to 20-years in prison. The trial has attracted a great deal of attention due to its high-profile nature and the alleged deception by Theranos. Many closely watch the trial to find out what the verdict may be, and how it will affect the technology industry and legal system.
Favorite Quotes from Elizabeth Holmes
“I think that the minute that you have a backup plan, you’ve admitted that you’re not going to succeed.” — Elizabeth Holmes
“I do not want to make an incremental change in some technology in my life. I want to create a whole new technology, and one that is aimed at helping humanity at all levels regardless of geography, ethnicity, age, or gender.” — Elizabeth Holmes
“What I really want out of life is to discover something new, something mankind didn’t know was possible to do.” — Elizabeth Holmes
“When you find what you love, you do it. That is it.” — Elizabeth Holmes
“I think people can benefit tremendously from really asking why they’re doing certain things.” — Elizabeth Holmes
Frequently Asked Questions about Elizabeth Holmes
Q. Who is Elizabeth Holmes?
A. Elizabeth Holmes is a former CEO and founder of Theranos, a now-defunct health technology company that claimed to have developed a revolutionary blood testing device.
Q. When was Elizabeth Holmes born?
A. Elizabeth Holmes was born on February 3, 1984.
Q. Where was Elizabeth Holmes born?
A. Elizabeth Holmes was born in Washington, D.C., United States.
Q. What is Elizabeth Holmes known for?
A. Elizabeth Holmes is known for her role as the founder and CEO of Theranos, and for being charged with multiple counts of fraud in relation to the company.
Q. What charges was Elizabeth Holmes indicted on?
A. Elizabeth Holmes was indicted on multiple counts of wire fraud and conspiracy to commit wire fraud in relation to her role at Theranos.
Q. Why Elizabeth Holmes changed her Voice?
A. Elizabeth Holmes’ deep voice has been a topic of discussion and speculation, with many people questioning why she chose to speak in such a manner. According to reports, Holmes’ natural voice is higher-pitched, and she reportedly began intentionally lowering her voice during her time at Theranos in order to be taken more seriously as a CEO in a male-dominated industry.
Some former colleagues have suggested that Holmes’ affected voice was also intended to create a sense of mystery and intrigue around her persona, which helped to fuel media interest in her and the company. However, it is worth noting that the reasons behind Holmes’ choice to change her voice have not been confirmed by Holmes herself, and she has not publicly commented on the matter.
Conclusion
Elizabeth Holmes’s net worth is a warning about the dangers that come with over-promising but under-delivering. Her rise to stardom and subsequent fall serves as a warning that there are no short cuts to success and honesty and integrity is essential to building a successful company. As of 2023, Elizabeth Holmes’s net worth is zero, and she is facing a legal battle that could determine her fate for the next 20 years.
If you are interested in learning more about the rise and fall of Elizabeth Holmes and the Theranos scandal, there are many resources available, including the book “Bad Blood” by John Carreyrou, which provides an in-depth look at the events leading up to the downfall of Theranos.
