Elizabeth Holmes Net Worth: $4.5 Billion to $0
Note: Elizabeth Holmes is the former Billionaire and now is having no worth.
The founder of the health-tech company Theranos, Elizabeth Holmes is a billionaire. She was born on February 3 of the year 1984 to a well-connected family with a rich history and went on to become the most famous female biotechnology entrepreneur. Elizabeth Holmes’s Net Worth is around $4.5 Billion and 60% to 70% of their net worth is from her company Theranos.
Her journey to become a self-made billionaire was not that easy. Considering her $4.5 Billion worth, we will help you go through all aspects and liabilities she has.
Elizabeth Holmes’s Net Worth
In the year 2014, Fortune made Elizabeth Holmes which celebrity status figure. Elizabeth started making constant media appearances since then on all major TC channels. Her PR portrayed her self-made female billionaire. Before the disaster of her company Theranos, she was already a billionaire whereas Elizabeth Holmes’s net worth was $4.5 Billion already.
Later in the year 2018, she had to go through a lot of issues with her company Theranos. She was sentenced to jail for looting investors’ money in her company. As of 2022, Elizabeth Holmes net worth has come down to 0 as all the money is seized.
Elizabeth Holmes Real Estate
Holmes has been living in the storied homes on the lands of Green Gables, America’s most expensive estates. She also once owned a French-style mansion built in 1936 in Atherton, CA, a wealthy Silicon Valley enclave.
Elizabeth owned a century-old property in the wealthiest town of Silicon Valley that covers a 74-acre of land in the Woodside of California which is currently worth $135 million.
Elizabeth Holmes Business Theranos Downfall
Holmes had the incredible power of persuasion which was another reason why Theranos went so far with no real working technology. In 2010, she convinced Walgreens and Safeway executives to partner with Theranos and create wellness centers in pharmacy stores where patients could get blood tests. Both Walgreens and Safeway gave their company $105 million in investment as loans.
But, Elizabeth deceived them by running the tests on third-party machines instead of Theranos products and fabricating the sample results. She continued to receive $125 million of investment from Rupert Murdoch, $150 million from the Walmart brothers, and $100 million from the DeVos family which resulted in giving Theranos a valuation of $9 billion. This made Elizabeth worth $5 billion alone.
Theranos which was supposed to develop minimally invasive blood testing services, soon it was revealed that only a fraction of blood tests were performed by the company. They had solicited about $4100 million from investors for a product that did not even pass a successful attempt. Its secretive development, compliance problems, and delays in allowing peer review all brought Theranos and Elizabeth down to ashes.
Elizabeth Holmes Biography
Elizabeth was so inspired from a young age which made her drop out of Stanford university at the age of 19 and started her own company. The initial days of accumulating investments were not glamorous but she still managed to receive an investment of $1 million from her neighbour.
Despite struggling to convince the investors who specialised in medicine due to lack of knowledge, Elizabeth received nearly $6 million in funding for her company. However, she started doing some ethically questionable things like testing the products on real patients while knowing the uncertainty of the product. She used to outright lie to the investors and clients about how well the product worked.
As the downfall of Theranos started when the truth finally started to leak out. In March 2018, Holmes was charged with fraud by the U.S. Securities and the SEC settled with Elizabeth Holmes where she lost voting control and had to give away her portion of the stock. She was also banned from being a director of any public company for ten years. Holmes was indicted on criminal charges in a lawsuit and faced 20 years in federal prison along with millions in restitution and fines. Theranos was dissolved in September 2018.
