![]() ![]() In March 2004, she dropped out of Stanford's School of Engineering and used her tuition money as seed funding for a consumer healthcare technology company. She filed her first patent application on a wearable drug-delivery patch in 2003. Īfter the end of her freshman year, Holmes worked in a laboratory at the Genome Institute of Singapore and tested for severe acute respiratory syndrome coronavirus (SARS-CoV-1) through the collection of blood samples with syringes. In 2002, Holmes attended Stanford, where she studied chemical engineering and worked as a student researcher and laboratory assistant in the School of Engineering. Her parents had arranged Mandarin Chinese home tutoring, and partway through high school, Holmes began attending Stanford University's summer Mandarin program. During high school, she was interested in computer programming and says she started her first business selling C++ compilers to Chinese universities. And I think Elizabeth channeled that, and at a young age." Her mother was born in Georgia and has French Canadian ancestry on her father's side. The Holmes family "was very proud of its yeast empire" history, according to a family friend Joseph Fuisz, "I think the parents very much yearned for the days of yore when the family was one of the richest in America. Her paternal great, great, great grandfather was Charles Louis Fleischmann, a Hungarian immigrant who founded the Fleischmann's Yeast company. ![]() Christian later held executive positions in government agencies such as USAID, the EPA, and USTDA. Her mother, Noel Anne ( née Daoust), worked as a Congressional committee staffer. Her father, Christian Rasmus Holmes IV, was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal. Holmes's career, the rise and dissolution of her company, and the subsequent fallout are the subject of a book, Bad Blood: Secrets and Lies in a Silicon Valley Startup, by The Wall Street Journal reporter John Carreyrou an HBO documentary feature film, The Inventor: Out for Blood in Silicon Valley and a Hulu miniseries called The Dropout.Įlizabeth Holmes was born February 3, 1984, in Washington, D.C. Following the collapse of Theranos, she started dating hotel heir Billy Evans, with whom she had a son in 2021. Holmes was in a clandestine romantic relationship with Balwani during most of Theranos's history. The credibility of Theranos was attributed in part to Holmes's personal connections and ability to recruit the support of influential people, including Henry Kissinger, George Shultz, Jim Mattis, and Betsy DeVos, all of whom had served or would go on to serve as U.S. She faces up to 20 years in federal prison, plus potentially millions in restitution and fines, and is scheduled to be sentenced in November 2022. ended in January 2022 when Holmes was convicted of defrauding investors, and found not guilty of defrauding patients. ![]() ![]() In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer (COO) Ramesh "Sunny" Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud, with the victims being investors and patients. Securities and Exchange Commission (SEC) charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of the company's blood-testing technology Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her voting control of Theranos, and accepting a ten-year ban from serving as an officer or director of a public company. The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims and whether Holmes had misled investors and the government. In the following year, as revelations of potential fraud about Theranos's claims began to surface, Forbes revised its estimate of Holmes's net worth to zero, and Fortune named her in its feature article on "The World's 19 Most Disappointing Leaders". By 2015, Forbes had named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9-billion valuation of her company. In 2003, Holmes founded and was the chief executive officer (CEO) of Theranos, a now-defunct health technology company that soared in valuation after the company claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, such as from a fingerprick. Elizabeth Anne Holmes (born February 3, 1984) is an American former biotechnology entrepreneur convicted of criminal fraud. ![]()
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