Elizabeth Holmes Biography, Wikipedia, Age, Husband, Children, Net Worth, Sentence, Parents, Siblings

Saturday, 19 November 2022, 10:44 pm

Everything you need to know about Elizabeth Holmes’s Biography, Wikipedia, Age, Husband, Children, Net Worth, Sentence, Parents, Siblings

Elizabeth Holmes Biography

Elizabeth Anne Holmes is an American con artist and former biotechnology entrepreneur who was convicted of criminal fraud. She was born on February 3, 1984 in the United States. In 2003, Holmes established and served as the chief executive officer (CEO) of Theranos, a now-defunct health technology company that skyrocketed in valuation after the company claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, such as from a fingerprick. Theranos was able to do this because the company had developed methods that could use surprisingly small volumes of blood, such as from a fingerprick. By the year 2015, Forbes had recognized Holmes as the youngest and wealthiest self-made female billionaire in the United States. This was based on the fact that her company was valued at $9 billion. The following year, Forbes reduced its estimate of Holmes’s net worth to zero,and Fortune dubbed her in its feature story on “The World’s 19 Most Disappointing Leaders.” These revisions came after disclosures of suspected fraud surrounding Theranos’s claims began to surface.

In 2015, a series of journalistic and regulatory investigations highlighted doubts about the company’s technology promises and raised questions as to whether or not Holmes had misled investors and the government. This marked the beginning of Theranos’ downward spiral. In 2018, the United States Securities and Exchange Commission (SEC) charged Theranos and Holmes with deceiving investors by committing “massive fraud” through false or exaggerated claims about the accuracy of the company’s blood-testing technology. Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her voting control of Theranos, and accepting a ten-year ban from serving as an officer or director of a public company.

In June of 2018, a federal grand jury indicted Holmes and Ramesh “Sunny” Balwani, who had previously served as the chief operating officer (COO) of Theranos, on nine counts of wire fraud and two counts of conspiracy to commit wire fraud. The defendants were accused of defrauding investors as well as patients.
Her trial, which was part of the lawsuit United States of America v. Holmes et al., came to an end in January 2022 when Holmes was found guilty of misleading investors but exonerated of any wrongdoing toward patients. U.S. District Judge Edward Davila handed her a sentence of 11.25 years in jail on November 18, 2022. Her sentence was comprised of 135 months.

The credibility of Theranos was partially attributed to Holmes’s personal connections and his ability to recruit the support of influential people, including Henry Kissinger, George Shultz, Jim Mattis, and Betsy DeVos, all of whom had served or would go on to serve as officials in the cabinet of the United States of America under a previous presidential administration or would go on to serve under a future presidential administration. During the majority of Theranos’s existence, Holmes and Balwani were involved in a love relationship behind the scenes. After the failure of Theranos, she began a relationship with hotel heir Billy Evans, with whom she eventually became pregnant and gave birth to a son in 2021.

John Carreyrou, a reporter for The Wall Street Journal, wrote a book titled Bad Blood: Secrets and Lies in a Silicon Valley Startup. This book, along with an HBO documentary feature film titled The Inventor: Out for Blood in Silicon Valley and a Hulu miniseries titled The Dropout, are all about Holmes’s career, the rise and fall of her company, and the fallout that followed.