Who Is Elizabeth Holmes? The Story Of Youngest Female Billionaire Landing Up In Jail!

0

In the business world, American woman Elizabeth Holmes has risen to remarkable heights. Once upon a time, Holmes was not only anticipated to become the most successful person in the field of technology but to revolutionize it. She is well-known for her time as the head of Theranos, a biotech company she co-founded.

Short Bio

Name: Elizabeth Holmes
Salary: $0 +
Monthly Income: $0 +
Date of Birth: February 3, 1984
Gender: Female
Height: 1.67m (5′ 6″)
Weight: 65 kg or 143 lbs
Profession: American entrepreneur
Nationality: American

Elizabeth Holmes Biography

On February 3, 1984, Elizabeth Anne Holmes was born in Washington, DC. She spent her formative years with her family in Washington, where they eventually moved. Her dad used to work for the defunct energy firm Enron as a vice president. Once upon a time, her mom was a member of Congress and worked on a committee.

As early as she can remember, Elizabeth Holmes showed impressive skills with computers and coding. It was in high school that she began her study of C++. She also started her first business at a tender age, selling C++ compilers to academic institutions in China.

Following that, she enrolled at Stanford University to pursue studies in chemical engineering. She participated in a wide variety of engineering-related studies. It wasn’t long before she left for Singapore to investigate the SARS coronavirus and pursue Genome Sequencing.

She dropped out of college in 2003 and put the money she would have spent on tuition into a startup that would become Theranos.

elizabeth holmes net worth

Read more: Dax Shepard’s Net Worth (Updated 2022) | Latest Update!

Early Life and Education

Born in 1984 in the Nation’s Capital, Elizabeth Holmes has been around for quite some time. Her mother, Noel, was a member of Congress, and her father, Christian, was a vice president at the energy firm Enron. After the insolvency and fraud crisis at that firm, he worked in executive capacities for several government departments.

At St. John’s School in Houston, Texas, where she attended as a young person, Holmes became interested in computer programming. She attended the Mandarin program at Stanford University over the summer and also received private tutoring at home.

Holmes continued his education by becoming a student researcher and lab assistant at Stanford Uniear of college, she got a job at Singapore’s Genome Institute, where she analyzed blood samples for the SARS-CoV-1 virus. versity, where he studied chemical engineering. After finishing her first y

After filing her first patent application in 2003 for a patch that would administer drugs to the body, Holmes decided to forego her studies at Stanford the following year to focus on developing medical technologies.

Personal Life

In 2003, shortly before she left Stanford, Holmes began dating computer entrepreneur Ramesh “Sunny” Balwani, a Pakistani immigrant who was 19 years older.

They started living together in 2005. Before officially joining Theranos as a chief operating officer in 2009, Balwani had been giving Holmes business assistance for several years behind the scenes. Later in 2016, he departed the company because of fraud investigations.

Holmes wed hotel heir William Evans three years later. In the course of her criminal trial in 2022, it came out that she and her young family had been living in a rental home on a fabled $135 million estate in the Woodside neighborhood of the San Francisco Bay Area.

Elizabeth Holmes Career and Awards

Elizabeth Holmes launched her career in 2003 when she dropped out of Stanford University and utilized her student loans to launch a medical technology firm called Theranos. Real-Time Cures was the company’s original moniker before it was changed to Theranos.

Because of her aversion to needles, Holmes was motivated to launch this enterprise. She hoped that by only requiring a pinprick of blood, the entire blood testing system might be revolutionized.

Elizabeth Holmes, who was a major fan of Steve Jobs, gained notoriety in part because of her costumed appearances as Jobs. In 2004, she successfully raised $6 million for the business. It reached $92 million by 2010. Forbes estimated the company’s value at $9 billion in 2022.

After working hard and smart, she amassed more riches than any other woman in history, making her a billionaire in her own right. While in the same year, reports surfaced that hinted at possible fraud by the corporation with its investors. A big fraud case against her was filed in 2022.

Founding of Theranos

Founded in 2003 in Palo Alto, California, Real-Time Cures was an attempt by Holmes to expand access to medical care. She feared needles and looked for alternatives to get blood samples for testing.

Former Stanford advisor Channing Robertson introduced Holmes to venture funders after she rebranded her business Theranos. Holmes, an Apple fanboy, was known to dress like Jobs by donning black turtleneck sweaters and adopting Jobs’ distinctive baritone voice.

elizabeth holmes net worth

Downfall of Theranos

John Carreyrou of the Wall Street Journal began his covert investigation of Theranos after obtaining information from a medical professional who had doubts about the accuracy of the company’s blood-testing equipment. Holmes, upon realizing this, launched an attack against Carreyrou and threatened the WSJ with both financial and legal ruin.

Despite this, in October 2015, Carreyrou presented his findings, which showed that Theranos’ commercial machines from other manufacturers gave falsely positive results.

The Medicare and Medicaid Services (CMS) found problems at a Theranos lab in Newark, California, in January 2022, and by July of that year, they had officially prohibited Holmes from owning or running a clinical blood-testing laboratory for two years.

Read more: Corey Gamble Net Worth 2022: How He Met Kris Jenner…?

In 2017, The State of Arizona filed an action against Theranos and Holmes, alleging that the business had lied about the accuracy of its blood tests. In response, almost all stockholders in Theranos opted to drop their lawsuits in exchange for preferred stock.

The Securities and Exchange Commission filed fraud charges against Holmes and Theranos’s former president, Ramesh Balwani, in March 2018, alleging that the pair had used over $700 million in investor funds to promote a phony product. In addition, the corporation was discovered to have exaggerated both its income and the extent to which the US Department of Defense had used its technology.

Holmes agreed to give up voting control of Theranos and was barred from serving as an officer for a public corporation for ten years as part of the settlement. In the month of September 2022, Theranos officially shut down.

Criminal Indictments

Nine counts of wire fraud and two counts of conspiracy to conduct wire fraud were brought against Holmes and Balwani by a federal grand jury in June 2018. The criminal prosecution of U.S. v. Holmes, et al., prosecuted by the United States Attorney for the Northern District of California, finally got underway in August 2022, after being delayed by the COVID pandemic and Holmes’ pregnancy.

She was found guilty on four charges of fraud and conspiracy and could spend up to 20 years in prison, pay fines, and make restitution.

elizabeth holmes net worth

Read more: Is Jack Johnson a Highest-Paid Singer in the World?

Elizabeth Holmes’s Net Worth

American businesswoman Elizabeth Holmes has a net worth of $0. The now-defunct healthcare technology business Theranos, which Holmes co-founded and oversaw, brought her notoriety, a brief paper fortune, and a criminal sentence.

The stock price increased after the corporation made statements about how it had transformed blood testing. Several probes, however, uncovered evidence that the firm was misleading investors with fabricated claims.

As a result of the scandal that ensued, both Holmes and her ex-boyfriend/Theranos COO Ramesh “Sunny” Balwani were indicted.

In theory, Elizabeth was worth $4.5 billion at the peak of the company’s valuation of $9 billion. That made Elizabeth the youngest-ever billionaire who started off with nothing. The incident quickly led to her resignation from Theranos, and she gave up a lot of equity in a firm that would soon be worthless. Years later, at a court hearing in Arizona, Elizabeth said she couldn’t pay for an attorney and asked the court to fund one for her.

Frequently Asked Questions

What is The Age of Elizabeth Holmes?

Currently, Elizabeth Holmes is 38 years old (3 February 1984).

What is The Net Worth of Elizabeth Holmes?

Elizabeth Holmes’s total net worth is around $0.

What is The Height of Elizabeth Holmes?

The Height of Elizabeth Holmes is 1.67 M.

Conclusion

Just the life of Elizabeth Holmes is fascinating. She was hailed as “one of the world’s best entrepreneurs,” but her fraud and criminal activity doomed her to failure. She was designated one of the world’s 100 most important individuals and the youngest female billionaire in 2022.

However, things changed radically, and she was included in a list of the 19 most disappointing leaders. She has been released on bond till a September 2022 court date.

Leave A Reply

Your email address will not be published.