Elizabeth Holmes is a prominent American former businesswoman. Moreover, Holmes was the founder and chief executive of Theranos, a now-defunct health technology company. Thus, the company claimed to have revolutionized blood testing by developing testing methods that could use surprisingly small volumes of blood such as from a fingerprick. However, Theranos started to decline after a series of journalism and regulatory investigations revealed doubts about the company’s technology claims and whether Homes had misled investors and the government. As a result, Theranos and Holmes were ultimately charged with deceiving investors by “massive fraud” through false or exaggerated claims about the accuracy of the company’s blood-testing technology. Hence, the case, U.S. v. Holmes, et al. began on 31 August 2021.
Quick Facts About Elizabeth Holmes
|Celebrated Name||Elizabeth Holmes|
|Birth Name||Elizabeth Anne Holmes|
|Place Of Birth||Washington, D.C.|
|Birth Nation||United States|
|Famous For||The founder and chief executive of Theranos, a now-defunct health technology company|
|Father||Christian Rasmus Holmes IV|
|Mother||Noel Anne Daoust|
|High School||St. John’s School|
|University||Stanford School of Engineering|
|Position||Founder and chief executive of Theranos, a now-defunct health technology company|
|Husband||William “Billy” Evans|
|Height||5 ft 7 inches|
|Source of Wealth||Business|
What is Elizabeth Holmes famous for?
- The founder and chief executive of Theranos, a now-defunct health technology company.
Who is Elizabeth Holmes? Where is she From? Family, Early Life, & Education
Elizabeth Holmes is a founder of Theranos and thus, was born on 3 February 1984. Thus, her birth name is Elizabeth Anne Holmes. Moreover, her birthplace is in Washington, D.C. in the United States. Furthermore, she holds an American nationality. Similarly, she was born to her father, Christian Rasmus Holmes IV, and her mother, Noel Anne Daoust. Likewise, she belongs to white ethnicity and her religion is Christianity. In addition, she has a brother named, Christian.
Similarly, concerning her educational background, she attended St. John’s School. She was interested in computer programming and sold C++ compilers to Chinese universities during high school. As a result, her parents had arranged Mandarin Chinese home tutoring. Moreover, she started attending Stanford University’s summer Mandarin program. Therefore, she studied chemical engineering. Moreover, she worked as a student researcher and laboratory assistant in the School of Engineering. In addition, she worked in the laboratory at the Genome Institute of Singapore at the end of her freshman year. Likewise, Elizabeth tested for severe acute respiratory syndrome coronavirus (SARS-CoV-1) through the collection of blood samples with syringes. Moreover, she filed her first patent application on a wearable drug-delivery patch in 2003. As a result, she dropped out of Stanford School of Engineering in 2004. Moreover, she used her tuition money as seed funding for a consumer healthcare technology company.
Height, Weight, Hair Color, & Eye Color
Elizabeth Holmes stands at the height of 5 ft 7 inches tall. In addition, she has a bodyweight of around 58 kg. Moreover, she has a slim body build. Furthermore, her eye color is blue and her hair color is blonde. And, her sexual orientation is straight.
How much does Elizabeth Holmes earn? Net Worth
Elizabeth Holmes was recognized by Forbes as the world’s youngest self-made female billionaire in 2014. Therefore, she was ranked at No. 110 on the Forbes 400 list. Her company Theranos was valued at $9 billion and had raised more than $400 million in venture capital. Moreover, she was named Fortune’s Businessperson of the Year and listed on its 40 Under 40. In addition, Forbes listed her as one of America’s Richest Self-Made Women in 2015. Therefore, her net worth was estimated at $4.5 billion. Following the revelations of potential fraud about Theranos, Forbes estimated her net worth to zero and named her one of the “World’s Most Disappointing Leaders”.
Personal Life & Relationship
Elizabeth Holmes is a married woman. She is married to William “Billy” Evans. As a result, the couple got engaged in early 2019. They later tied a knot to each other in a private ceremony in mid-2019. Moreover, their first child, a son, was born in July 2021. The family lives in San Francisco. Evans is the heir to the Evans Hotel Group.
Holmes previously dated technology entrepreneur Ramesh “Sunny” Balwani. In addition, they jointly ran Theranos.
Elizabeth Holmes Theranos
Elizabeth Holmes established the company Real-Time Curs in Palo Alto, California in 2003. Thus, she rose the idea to reap “vast amounts of data from a few droplets of blood-derived from the tip of a finger” to her medicine professor Phyllis Gardner at Stanford, to which Garnder responded, “I don’t think your idea is going to work”. Nevertheless, Holmes did not back out from her idea and won in getting her advisor and dean at the School of Engineering, Channing Robertson, to back her idea. Furthermore, she renamed the company, Theranos in 2003 and Robertson became the company’s first board member.
Moreover, she raised $6 million to fund the firm by December 2004 and over $92 million in venture capital by the end of 2010. She ran Theranos in the “stealth mode” without press publicity or a company website till September 2013. Likewise, Theranos announced a partnership with Walgreens to launch in-store blood sample collection centers. As a result, her name appeared on 18 U.S. patents and 66 foreign patents by the end of 2014.
Similarly, she set agreements with Cleveland Clinic, Capital BlueCross, and AmeriHealth Caritas to use Theranos technology in 2015. In addition, John Carreyrou of The Wall Street Journal received a tip from a medical expert who thought the Edison blood-testing device seemed suspicious. Hence, Carreyrou initiated a secret, months-long investigation of Theranos. Hence, Holmes tried to stop Carreyrou from publishing through legal and financial threats against Carreyrou, Journal, and the whistleblowers. Carreyrou published the article in October 2015 where he detailed how the Edison device gave inaccurate results.
Moreover, Carreyrou continued to expose Holmes in a series of articles. Consequently, Carreyrou published a book titled, Bad Blood: Secrets and Lies in a Silicon Valley Startup in 2018. Therefore, the book described an investigation of Theranos. Nevertheless, Holmes refused all the claims. As a result, the Centers for Medicare and Medicaid Services (CMS) officially banned Holmes from owning, operating, or directing blood-testing services for two years in July 2016.
The State of Arizona filed suit against Theranos in 2017, claiming that the company had sold 1.5 million blood tests to Arizonas while concealing or misrepresenting important facts about those tests. Consequently, Theranos resolved the lawsuit by agreeing to refund the cost of the tests to consumers and to pay $225,000 in civil fines and attorney fees, for a total of $4.65 million. Moreover, the Holmes US Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by “massive fraud” through fall e or false claims about the accuracy of the company’s blood-testing technology in 2018.
Besides, Holmes settled the charges by paying a $500,000 fine and returned 18.9 million shares to the company, and abandoned her voting control of Theranos. She was also barred from serving as an officer or director of a public company for ten years. In addition, a federal grand jury indicted Holmes and former Theranos COO Ramesh Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers in 2018. Furthermore, the case U.S. v. Holmes, et al. started on 31 August 2021.
- Her father was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal.
- Her mother worked as a Congressional committee staffer.
- Holmes described her fear of needles as motivation and sought to perform blood tests using only small amounts of blood.
- In addition, she was an admirer of Apple founder Steve Jobs and deliberately copied his style, frequently dressing in a black turtleneck sweater, as Jobs did.
- She spoke in a deep baritone voice during most of her public appearances.
- Moreover, she appeared on the covers of Fortune, Forbes, T: The New York Times Style Magazine, and Inc.
- At its height in 2015, Theranos had more than 800 employees.
- The rise and dissolution of her company, and the subsequent fallout were the subject of an HBO documentary feature film, The Inventor: Out for Blood in Silicon Valley.
- In 2015, she was appointed a member of the Harvard Medical School Board of Fellows.
- In 2015, she was named one of TIME magazine’s Most Influential People in the World.
- Forbes awarded her the Under 30 Doers Award and ranked on its 2015 lists of the Most Powerful Women in 2015.
- She received an Honorary Doctor of Humane Letters degree from Pepperdine University.
- She was awarded the 2015 Horatio Alger Award, making her the youngest recipient in its history.