Theranos, a blood testing facility, proffered the following products and services: The enterprise had a $9 billion value and support from renowned investors and medical outlets. It was a biotechnological enterprise that aimed to impact blood testing in the medical field. Theranos Incorporated was the company owned by Elizabeth Holmes, established in 2003. What was Theranos, and what were its products? Despite her appeal for leniency, the ruling remained, and her company collapsed from the charges and restitutions demanded by the Federal Court. She also had cases made against her to refund patients for tests done by Theranos and a federal lawsuit for four counts of fraud, which earned her an eleven-year prison sentence to start in April 2023. Holmes received bans on the services and products offered by her company and organizational roles for ten years. The searches revealed faulty test results, the use of other companies' products, false information to investors, and defrauding funders of millions. Fraudįrom the inquiries about Theranos, Elizabeth Holmes and Ramesh Balwani had charges of fraud made against them. However, investigations into her operations revealed fraudulent activities. With her reputation and ventures, Holmes had over 50 patents. She brokered connections with the foremost pharmaceutical companies, such as Walgreens and Thenaros had a $9 billion net worth from its endorsements by 2014. In 2004, she gained $9 million to fund the company and sought investors to support her endeavors.īy 2010, Elizabeth had over $92 million in funding from prominent venture capitalists, including George Scultz, the former United States Secretary of State. In 2003, she tried to patent her wearable drug delivery patch design.Įventually, Holmes left her studies to launch her advanced wellness and blood testing establishment, Real-Time Cures, which she renamed Theranos and operated with her romantic partner, Ramesh “Sunny” Balwani. She was a research assistant at Stanford’s School of Engineering and a laboratory scientist at the Genome Institute of Singapore. John School in Houston, Texas, and after she expressed interest in engineering, she went to Stanford University in 2002 to study chemical engineering. She was born on February 3, 1984, to Christian and Ann Holmes in Washington, DC. Net WorthĮlizabeth Anne Holmes is an American businesswoman and a former Chief Executive Officer (CEO) of the bioengineering company, Theranos. Plus, learn how we can coach you to grow YOUR net worth the right way… for free. The article below highlights Elizabeth Holmes’ net worth, rise to fame, and infamy as a business mogul. Holmes’ wealthy status drastically changed from leading investigations into her establishment and several lawsuits. Despite her phenomenal success, she also became among Fortune’s list of The Worst 19 Most Disappointing Leaders. Elizabeth Holmes was Forbes' Youngest and Wealthiest Self-made Female Billionaire in 2015, with a distinguished company and notable patents.
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