In This Biography
Elizabeth Holmes Biography, Age, Family, Husband, Children, and Net Worth
Who is Elizabeth Holmes?
Elizabeth Holmes is a former American businesswoman. She is the founder and CEO of Theranos currently a health-era company. The company claimed to have revolutionized blood testing through developing testing methods. The technique could use small blood samples like fingerprick. Holmes was named by Forbes in 2015 as the youngest and richest self-made billionaire in the united states of America. Her company valuation stands at $ 9 billion. Following revelations of potential fraud about Theranos’ claims, Holmes’s net worth was revised by Forbes to zero. She was named by Fortune as one of the most disappointing leaders in the world. The downfall of Theranos started in 2015 when there were doubts about the organization’s technology claim and whether Elizabeth had misled the government and investors.
Holmes and Theranos were charged by the U.S. Securities and Exchange Commission with deceiving investors through exaggerated claims about blood-testing technology. Elizabeth settled the charges by paying off a fine of $500,000 and returned 18.9 million shares to the company. She was barred from serving as an officer or a public company director for ten years.
How Old is Elizabeth Holmes?
Holmes was born on third February 1984, in Washington, D.C. She is 37 years of age as of 2021. Holmes shares her birthday with celebrities such as Taylor Caniff, Daddy Yankee, India Love, Sean Kingston, Chantelle Paige, Isla Fisher, Thomas Calabro among others.
Elizabeth Holmes Family
Who is Elizabeth Holmes Parents?
Elizabeth’s father, Christian Rasmus Holmes IV, was once a Vice President of Enron. This is an energy company that later went bankrupt due to an accounting fraud scandal. Later, Rasmus Holmes held executive positions in government agencies like USAID, the EPA, and USTDA. Noel Anne, her mom worked as a staff withinside the Congressional committee.
Does Elizabeth Holmes have Siblings?
She has a younger brother Christian Holmes V. Christian is the product Managing Director at Theranos, Silicon Valley Company.
Elizabeth Holmes Education
Holmes went to St. John’s School in Houston. At school, she was interested in computer programming and graduated. Holmes commenced her first business selling C++ compilers to Chinese universities. She was inspired by her great-grandfather Christian R. Holmes, who she had studied about him. He was a World War I veteran, an engineer, an inventor, and a surgeon. He was also the head of the University Of Cincinnati College Of Medicine.
Holmes began attending Stanford University’s summer Mandarin program. In 2002, she studied chemical engineering at Stanford University and additionally worked as a student researcher and laboratory assistant in the Engineering School. After her first year, Holmes worked as a lab technician at the Genome Institute of Singapore. This is where she tested for severe acute breathing syndrome coronavirus (SARS-CoV-1). The blood samples were collected via syringes.
In 2003, Holmes filed her first patent application on a wearable drug-delivery patch. The following year, she dropped out of Engineering School. Holmes used her tuition money to fund a consumer healthcare technology company.
Elizabeth Holmes Spouse.
Holmes engaged herself in a romantic relationship with technology entrepreneur Ramesh “Sunny” Balwani. He is a Pakistani-born Hindu who once lived in India and then in the USA. Holmes met Balwani when she was 18 years old and he was 19 years older than her. Balwani divorced his spouse in 2002 and went into a relationship with Holmes in 2003. Balwani didn’t join Theranos officially until 2009 when he was given the chief operating officer.
He was Holmes’s advisor behind the scenes. The couple moved together in an apartment in 2005. The couple ran Theranos together in a corporate culture of “secrecy and fear”.Balwani left the organization in 2016 while the company was under investigation. His departure was uncertain as he claims he left at his own will while Holmes claims she fired him. Before March 2018, Holmes owned half of Theranos’ shares.
In 2015, Forbes named Holmes one of America’s Richest Self-Made Women with a net worth of $4.5 billion. In early 2019, Holmes got engaged to William “Billy” Evans. William is a 27-year-old inheritor of Evans Hotels. The Evans Family owns numerous hotels in San Diego. Holmes and Evans got married in mid-2019, in a private ceremony, and currently reside in San Francisco. She married him after the downfall of Theranos.
Elizabeth Holmes Children
After two years in marriage, Homes delivered a son in July 2021.
Elizabeth Holmes Height
Adding to her well-curved and exquisite body, she stands at a top of 1.69 meters.
Holmes founded a Real-Time cures company in 2003, in Palo Alto, California, to “democratize healthcare”. She defined her fear of needles as her motivation. She sought to carry out blood tests using small amounts. Holmes pitched the concept of a blood test from the fingertip to her medicine professor Phyllis Gardner at Stanford. She was frustrated with a reaction of, “I do not suppose your concept is going to work”. Other professors gave an equal reaction but she didn’t relent. Holmes succeeded in getting her advisor and dean at the Engineering School, Channing Robertson, who backed up her concept.
Holmes renamed the company Theranos in 2003 a short form of “therapy” and “diagnosis”. She admired Steve Jobs the Apple founder and copied his fashion of dressing, a black turtleneck sweater. Holmes had personal connections with influential people such as Henry Kissinger, George Shultz, James Mattis, and Betsy DeVos.
By the end of the year 2004, Holmes had raised $6 million to fund the company. By December 2010, the company had over $92 million in project capital. Holmes was introduced to George Shultz, a former secretary of the US. in July 2011. He joined the board of directors of Theranos. The company operated without any public address or a company website until September 2013. This is when the company announced the launch of in-store blood sample collection facilities in partnership with Walgreens.
Holmes was interviewed for Medscape by, Eric Topol. She appeared on the covers of Fortune Forbes: And the New York Times Style Magazine which accelerated media attention. Forbes ranked Holmes 110 on the Forbes 400 in 2014. Her name appeared on 18 U.S. patents and 66 foreign patents in December 2014.
In 2015, Holmes signed contracts to apply Theranos technology with Cleveland Clinic, Capital BlueCross, and AmeriHealth Caritas. Her career, rise, and fall of her company are the subject of, Bad Blood: Secrets and Lies in a Silicon Valley Startup, a book by John Carreyrou, The Wall Street Journal reporter. After long investigations of Theranos, John Carreyrou initiated a secret. This was after a medical expert suspected Edison’s blood-testing device.
John acquired company files from ex-employee whistleblowers. Holmes started a campaign through her lawyer David Boies to stop Carreyrou from publishing the investigations. The campaign included financial and legal threats against John and the ex-worker. Carreyrou published an article explaining how erroneous the Edison device was in October 2015 despite the threats. The article revealed how the company was using machines made by other companies for its tests.
Carreyrou continued his publicity and published a book in 2018 titled Bad Blood: explaining his investigations of Theranos. Holmes appeared on CNBC’s Mad Money to defend the company the same night the book was published. Theranos received a warning letter from the Centers for Medicare and Medicaid Services (CMS) in January 2016 after an inspection of a California laboratory. They proposed a -year ban on Holmes from operating clinical laboratory due to her failure in solving the California lab troubles in March 2016.
Holmes was officially banned by CMS in July 2016 from any operations in a blood-testing service for a duration of 10 years. The company appealed to a U.S. Department of Health and Human Services appeals board. This led to the downfall of Theranos since Walgreens ended its relationship and closed its in-store blood collection facilities. The U.S. Food and Drug Administration ordered Theranos to stop using its Capillary Tube Nanotainer device, which was one of its major inventions.
Elizabeth Holmes Charges
The state of Arizona filed a case in opposition to Theranos alleging that they had sold them 1.5 million blood tests while concealing critical facts about the tests in 2017. They settled their charges by paying a fine of $225,000 and attorney fees which summed up to a total of $4.65 million. On May 16, 2017, 99%of the Company’s shareholders agreed to dismiss all litigation in exchange for preferred stock.
In March 2018, Balwani and Holmes were charged by the U.S. Securities and Exchange Commission with fraud by taking over $700 million from investors because of fake product advertisements. By 2015 the company had over 800 personnel but reduced the number by 340 personnel and additional 155 employees in 2017.
The company announced its dissolution on 5th September 2018. distributing its closing assets and cash to its creditors. Holmes and Balwain were indicted with fraud 9 times and two times of conspiracy to wire fraud on 15th June 2018 however they both pleaded guilty. After this Holmes stepped down as the CEO of the company but still remained the board chair.
In June 2019 it was revealed by, Bloomberg News, that Holmes and Balwani were searching out a possible manner to blame the media for the downfall of their company. They additionally claimed that John Carreyrou’s report influenced the regulatory agencies. Later a report was discovered with Holmes’s claims to put the blame on Balwain.
Holmes at some point claims that she was dominated by Balwani, with whom they had a romantic relationship that she could not make her own decisions. She says that this led to the downfall of Theranos.
In February 2020, charges against Holmes were dropped but she was left with eleven charges. However, in August of the same year, another fraud charge was added by the prosecutors relating to a patient’s blood test. Bloomberg News reported Holmes’s attempt to use a “mental disease” defense for her charges in September 2020. This was when the judge presiding over her case allowed the prosecutors to examine her.
In February 2021, Holmes was accused by federal government prosecutors of destroying evidence in the last company’s days in business. The blame was placed on the government by Holmes’ lawyer for failure to preserve evidence and not on Holmes.
After a year of delaying the case of the U.S. against Holmes because of the COVID-19 pandemic and Holmes’ pregnancy, the trial is being held in the U.S. District Court for the Northern District of California. The trial began on 31st August 2021. If proven guilty, Holmes is to serve a jail term of 20 years and a fine of $250,000, plus restitution for every fraud and every conspiracy count.
The case is prosecuted by a U.S. lawyer whilst Holmes is defended by premier litigation firm Williams & Connolly LLP. The trial is expected to last for 13 weeks or longer.
Elizabeth Holmes’s Net worth
At its peak, Theranos was privately valued at $9 a billion. Holmes’s 50%shares gave her an estimated net worth of $4.five billion and was stated as among the young richest self-made woman. Unfortunately, there are allegations that Holmes built up her wealth primarily based on lies about the potential magical testing machines of her company.
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