Elizabeth Holmes, the ex-CEO of Theranos, a biotech firm, was convicted of fraud. Theranos’ valuation soared as it claimed to revolutionize blood testing, but potential fraud claims emerged in 2016. Forbes named Holmes the youngest and wealthiest self-made female billionaire in 2015, but later revised her net worth to zero.
| Category | Information |
|---|---|
| Full Name | Elizabeth Anne Holmes |
| Date of Birth | February 3, 1984 |
| Nationality | American |
| Occupation | Former biotechnology entrepreneur and CEO of Theranos |
| Criminal Conviction | Yes (for fraud) |
| Company | Theranos (now-defunct) |
| Company Claims | Developed methods for blood testing using small volumes of blood |
| Valuation | Reached $9 billion in 2015 |
| Net Worth | Estimated at $0 by Forbes in 2022 |
| Accolades | Named youngest and wealthiest self-made female billionaire in the US by Forbes in 2015; named one of “The World’s 19 Most Disappointing Leaders” by Fortune in 2016 |
Elizabeth Holmes, daughter of a former Enron vice president and a congressional committee staffer, graduated from St. John’s School in Houston and attended Stanford University, where she studied chemical engineering and worked as a student researcher. After her freshman year, she worked in a laboratory in Singapore and filed her first patent application. In 2004, she dropped out of Stanford to use her tuition money to start a consumer healthcare technology company. Holmes also reported being raped while attending Stanford.
In 2003, Elizabeth Holmes founded Real-Time Cures, which she later renamed Theranos. Despite being told by several medical professors that her idea to perform blood tests using small amounts of blood was impossible, Holmes was able to get her advisor and dean at the School of Engineering to back her idea. Holmes admired Steve Jobs and dressed like him, often wearing a black turtleneck. During most public appearances, she spoke in a deep baritone voice, although her family claims it is authentic.
Elizabeth Holmes secured $6 million in funding by December 2004 and raised over $92 million in venture capital by the end of 2010. George Shultz joined the board of directors after a two-hour meeting with Holmes in 2011. Theranos launched blood sample collection centres in partnership with Walgreens in 2013. Media attention increased in 2014 when Holmes was recognized as the world’s youngest self-made female billionaire by Forbes. Theranos was valued at $9 billion and had raised over $400 million in venture capital by this time. In 2015, agreements were established with Cleveland Clinic, Capital Blue Cross, and AmeriHealth Caritas to use Theranos technology.
Ramesh “Sunny” Balwani, who was married at the time and 19 years older than Elizabeth Holmes, was intimately associated with her while she was the former CEO of Theranos. They co-led the business and fostered a climate of “secrecy and fear.” Despite having advised Holmes from the start, Balwani only assumed his current position as COO at Theranos in 2009.
They kept their connection a secret, and Balwani departed the business in 2016 as an inquiry was ongoing. Holmes said in her testimony that Balwani was aggressive and domineering while they were dating, but he refuted the claims. Holmes further affirmed in court that Balwani did not coerce her into making up facts.
Before the 2018 settlement, Holmes had a 50% stake in Theranos and was listed by Forbes as one of America’s Richest Self-Made Women with a net worth of $4.5 billion. However, Forbes’ updated valuation in 2016 put her stake at essentially worthless, leaving her reportedly owing $25 million in connection with exercising stock options. In January 2022, a police report from 2003 surfaced, which supported Holmes’s claims that she had been sexually assaulted while studying at Stanford. The report did not identify the alleged perpetrator or provide further details about the incident.
In early 2019, Elizabeth Holmes became engaged to William “Billy” Evans, who is 27 years old and heir to Evans Hotels in San Diego. They reportedly married in mid-2019 in a private ceremony, but it is unclear if they are legally married as they have not confirmed it themselves.
They reside in San Francisco and had a son in July 2021. News surfaced in October 2022 that Holmes was pregnant again, and court filings from February 2023 indicate she has given birth to a second child and is requesting a delay in her prison term.
More entertainment news: