Elizabeth Holmes’s Net Worth Before Arrest: People want to know about Elizabeth Holmes’s net worth before getting arrested. Elizabeth Anne Holmes is an American who used to run a business in science.
The price of the company went through the roof after it said it had changed blood tests by making technologies that only needed a small amount of blood, like a fingerprick.
Forbes named Holmes the youngest and richest self-made female billionaire in the United States in 2015, based on the $9 billion value of her company.
The next year, when it became clear that Theranos’s claims might have been false, Forbes lowered its estimate of Holmes’s net worth to $0.
Fortune wrote about her in an article called “The World’s 19 Most Disappointing Leaders.”
The end of Theranos started in 2015 when questions were asked by journalists and government officials about the company’s claims and whether Holmes had tricked investors and the government.
Stay with us until the end to learn more about Elizabeth Holmes’s net worth and the scandals and controversies surrounding her.
Elizabeth Holmes’s Net Worth Before Arrest
Since she went to prison for theft, Elizabeth Holmes’s net worth has gone down to $0. She lied to get millions of dollars for her failed company, Theranos.
People have been wondering about Elizabeth Holmes’s net worth since Theranos stopped doing business.
The world’s youngest self-made billionaire woman was the former CEO and founder of a Silicon Valley health technology company that no longer exists. But Elizabeth Holmes’s net worth has changed in a big way.
Forbes says that since Theranos failed, Elizabeth Holmes’s net worth has gone from an expected $4.5 billion to $0 in 2023.
In 2018, the US SEC accused Ramesh “Sunny” Balwani, the former business’s founder, CEO, and company president, of theft.
The US Attorney for the Northern District of California said in the same year that Holmes and Balwani had been charged with wire theft and conspiracy.
The Bureau of Federal Prisons told People that Holmes turned herself in to start serving her sentence on Tuesday, May 30, 2023.
The Federal Jail Camp in Bryan, Texas, is a low-security jail with 655 women locked up there.
Elizabeth Holmes and the Trouble and Scandal
For years, investors didn’t know much about how Theranos’s technology worked because the company didn’t have a public website or news reports.
The public’s view of Theranos didn’t change until 2013 when the company worked with Walgreens to set up blood-collection stations in the stores.
Holmes started making news around this time. She gave speeches, spoke on panels, and was featured in Fortune and Forbes, where she was called the youngest self-made woman millionaire at age 30.
At its peak, the value of her company, Theranos, was $9 billion. But something about it didn’t make sense.
Nick Bilton’s investigation for Vanity Fair says that Ian Gibbons, the head scientist at Theranos and one of the company’s first employees, found flaws in the company’s technology and told Holmes that the tests weren’t ready for the public to use.
Experts from outside of Theranos also started to worry about the company. In 2015, medical study professors John Ioannidis and Eleftherios Diamandis questioned the technology her company was using.
When testing problems were found in January 2016 at a Theranos lab in Newark, California, the Centers for Medicare and Medicaid Services also began looking into the company.
A few months later, CMS told Holmes that he couldn’t own or run a professional blood-testing laboratory for the next two years.
In the years after that, many medical institutions, state and federal agencies, investors, and patients have taken Theranos to court and asked for fines. In September 2018, the company went out of business after years of lawsuits.
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