Elizabeth Anne Holmes, an American former biotechnology entrepreneur convicted of fraud, was born on 3 February 1984. Holmes founded and served as the chief executive officer (CEO) of Theranos, a now-defunct health technology company, in 2003. The company’s valuation skyrocketed after it claimed to have revolutionized blood testing by developing techniques that could use surprisingly small volumes of blood, such as from a fingerprick. In 2015, Forbes recognized Holmes as the youngest and richest self-made female billionaire in the United States, based on the $9 billion valuation of her firm. Forbes reduced their estimate of Holmes’ net worth to zero the following year, and Fortune listed her as one of the “World’s 19 Most Disappointing Leaders” in a feature story titled “The World’s 19 Most Disappointing Leaders.”
Elizabeth Holmes was born in Washington, D.C., on February 3, 1984.
Christian Rasmus Holmes IV was a vice president of Enron, an energy firm that went bankrupt following an accounting fraud scandal. Her mother, Noel Anne (née Daoust), was a staff member of a congressional committee. Later, Christian held executive roles in federal organizations like USAID, EPA, and USTDA. Christian Holmes’s heritage is Danish. Charles Louis Fleischmann, his second great-grandfather and Elizabeth’s third great-grandfather, was a Hungarian immigrant who developed Fleischmann’s Yeast. Julius Fleischmann, mayor of Cincinnati from 1900 to 1905 and businessman, was one of Charles Louis Fleischmann’s children. Holmes attended Houston’s St. John’s School.
She began her first business selling C++ compilers to Chinese colleges while still in high school, owing to her passion for computer programming. Her parents had arranged for home instruction in Mandarin Chinese, and Holmes began attending Stanford University’s summer Mandarin program during her junior year of high school. Consequently, Holmes is proficient in Chinese. Holmes entered Stanford in 2002, where she studied chemical engineering and worked as a laboratory assistant and student researcher in the School of Engineering.
Holmes collected blood samples using syringes to test for severe acute respiratory syndrome coronavirus (SARS-CoV-1) following the conclusion of her first year at the Genome Institute of Singapore.
In 2003, she submitted her first patent application for a drug-delivery patch. She dropped out of Stanford’s School of Engineering in March 2004 and utilized her tuition money as seed capital for a consumer healthcare technology startup.
Elizabeth Holmes Net Worth 2022
Elizabeth Holmes, the former CEO of Theranos, who at the height of her career as an entrepreneur was ranked by Forbes as one of the wealthiest people in the world, has one of the most extreme tales of a wealthy person who lost virtually everything due to problems with legal accusations and mismanagement of her company.
According to Forbes, Elizabeth Holmes’ net worth decreased from $4.5 billion to nothing by 2022, following the collapse of Theranos.
Holmes dated technology entrepreneur Ramesh “Sunny” Balwani, a Pakistani-born Hindu who emigrated to India and later the United States.
She met him in 2002 on a Stanford University Mandarin program trip to Beijing. Balwani was 19 years older than Holmes and was married to another lady at the time; Holmes was 18 and had just graduated from high school.
Balwani divorced his wife in 2002 and began a romantic relationship with Holmes in 2003, about the time Holmes left college.
In 2005, the pair moved into a shared apartment. Balwani did not formally join Theranos until 2009 when he was named chief operating officer, although he advised Holmes from the company’s start. According to staff, Holmes and Balwani controlled the firm with a corporate culture of “secrecy and terror.” Their love relationship was kept a secret for the majority of the time they ran the business. In 2016, Balwani departed Theranos due to inquiries. Holmes claims that she fired him, however, Balwani asserts that he voluntarily resigned.
Holmes testified on November 29, 2021, that she was raped while she was a student at Stanford and that she sought consolation from Balwani after the assault.
During their relationship, which spanned more than a decade, she said Balwani was sometimes verbally and sexually abusive towards her. She said in her testimony that he intended to “destroy the person” she was and build a “new Elizabeth.” She also testified that Balwani did not force her to make the fraudulent assertions detailed in the case to investors, business partners, media, and corporate directors. In court documents, Balwani has “categorically” disputed charges of abuse, labeling them “false and inciting.”
Prior to the settlement in March 2018, Holmes held fifty percent of Theranos’s equity.
2015 Forbes ranked her as one of America’s wealthiest self-made women with a $4.5 billion net worth.
Forbes published an updated value of Theranos for $800 million in June 2016, which rendered Holmes’s holding virtually useless because other investors possessed preferred shares and would have been paid before Holmes, who only owned ordinary stock. Holmes reportedly owes Theranos $25 million in relation to exercising stock options. She did not receive any corporate cash or sell any of her shares, including those related to the debt, as a result of the agreement.
Holmes is engaged to William “Billy” Evans, the 27-year-old heir to Evans Hotels, a family-owned collection of hotels in the San Diego region, in early 2019.
Holmes and Evans allegedly wed in a secret ceremony in the middle of 2019. Holmes and Evans have not verified their marital status, and numerous outlets continue to refer to him as her “partner” rather than her spouse. The pair resides in San Francisco. Holmes delivered a son in July 2021.
NPR got a copy of a partial police report from the evening of October 5, 2003, in which Holmes reported being sexually attacked between 1:00 and 3:00 a.m. at a Stanford fraternity house. The record was obtained in January 2022. The police report confirmed Holmes’ testimony during the trial, in which she stated, “I was asking how I would be able to process that [rape] experience and what I wanted to do with my life, and I determined that I would make a life by developing [a company].” She founded Theranos later that same year. The report filed by the deputies who responded to the call was not released, and the fragmentary material received by NPR does not identify an accused offender or any incident-related facts, but it does identify the street address of the Sigma Chi fraternity home as the site.
How much money did Elizabeth Holmes acquire?
In 2018, the Securities and Exchange Commission accused Holmes of “massive fraud.” She was accused of defrauding investors of more than $700 million. She was arrested in the same year on felony counts of wire fraud and wire fraud conspiracy.
Is Elizabeth Holmes Still wealthy?
Elizabeth Holmes, the former CEO of Theranos, who at the height of her entrepreneurial career was regarded by Forbes as one of the wealthiest people in the world, has one of the most extreme tales of a wealthy person who lost virtually everything due to legal problems and the mismanagement of her business.
Although The Dropout depicts Elizabeth Holmes as previously having a net worth of $4.5 billion, that money has long since disappeared. Celebrity Net Worth estimates that Holmes’ current net worth in 2022 is $0. However, she resides with her husband and kid in one of America’s most costly Silicon Valley mansions.
Who is Billy Evans, the spouse of Elizabeth Holmes?
According to reports, the founder of the failing blood-testing business Theranos has been engaged and is now married.
Holmes was just married in a private ceremony to William “Billy” Evans, the 29-year-old heir to the Evans Hotel Group hotel empire in California.
He grew raised near San Diego, California, according to reports. Susan and William L. Evans have had three children, including him.
Evans attended the Massachusetts Institute of Technology, where he earned a bachelor’s degree in economics in 2015.
According to his LinkedIn profile, Evans worked at a variety of financial and consulting firms in California during his summers off from school. During his time at MIT, he was also a student brand manager for Red Bull.
Generations of the Evans family have resided in the San Diego region. Anne and William D. Evans, the grandparents of Billy Evans, started the hotel management company Evans Hotels in 1953. The organization oversees three sites in the San Diego region.
William Holmes Evans was born in Redwood City, California, on July 10, according to birth documents acquired by ABC News.