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About Elizabeth Holmes
Elizabeth Holmes dropped out of Stanford University and founded blood testing startup Theranos in 2003, with the aim of using just a few drops of blood.
Theranos raised more than $700 million from investors (including from billionaires Rupert Murdoch and Larry Ellison), who valued the company at $9 billion.
Forbes named Holmes the world's youngest self-made woman billionaire--worth $4.5 billion--in 2014, when she was 30 years old.
Starting in 2015, Theranos' technology came into question; reporting by The Wall Street Journal revealed that Theranos was using other companies' machines.
Forbes revised our net worth estimate for Holmes to $0 in June 2016 amid new information and as the company faced a slew of investigations from federal agencies.
On January 3, 2022, Holmes was found guilty of four out of 11 charges of fraud; she was acquitted on four charges; the jury failed to reach a verdict on 3 counts.
In 2018, the U.S. Securities and Exchange Commission charged Holmes and with fraud; Holmes settled charges, paid a $500,000 fine and gave up her shares in Theranos.
Other wealthy investors in Theranos included New England Patriots owner Robert Kraft, members of Walmart?s Walton family and the DeVos family, heirs to Amway.
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The Elizabeth Holmes's Theranos saga is a study of Silicon Valley's startup playbook as it was misapplied to deep tech, ending in high-profile failure.
Explore the legacy of Elizabeth Holmes, her leadership and strategy at Theranos, the ongoing reparations debate, and the importance of integrity in business
A separate court ruling ordered Holmes and her former deputy Ramesh Balwani to pay $452 million in restitution to investors who were defrauded by their actions.