Elizabeth Holmes earned notoriety after founding the now-defunct health technology company Theranos and being named a self-made female billionaire in the U.S. by Forbes in 2015. However, those were gone after the revelations of the potential fraud about the company surfaced, and Fortune later dubbed her as one of The World's 19 Most Disappointing Leaders.
As this drama continues, learn more about Holmes and her remaining net worth.
Elizabeth Holmes and the Theranos Scandal
Theranos claimed it had "revolutionized blood testing," but a number of investigations found it was only deceiving its investors with false advertising and promises.
The scandal led to the company's collapse, ending up with Holmes and her former boyfriend/chief operating offer Ramesh "Sunny" Balwani's indictment.
Theranos' peak evaluation was $9 billion, while Holmes' net worth at the time was $4.5 billion, earning her the name of the world's youngest self-made billionaire.
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However, the scandal resulted in her resignation and surrendered a huge amount of equity.
Years later, the 39-year-old said she couldn't afford a lawyer and requested to be provided counsel in a court appearance.
In January 2022, she was found guilty of four counts of wire fraud and received a sentence of 135 months in prison in November of the same year.
Theranos Losses and Theresa Holmes' Remaining Net Worth
During Holmes' criminal trial, it was revealed that Theranos was losing money yearly.
It lost $16.2 million in 2010, $27.7 million in 2011, $57 million in 2012, and $92 million in 2013, averaging $2 million weekly.
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In 2014, it ended up having a debt of $376 million, earning only revenue of $14,000 in 2014.
That said, Holmes has lost all her billions, having no net worth at all.
Elizabeth Holmes Seeks Delay Prison Term
A recent court filing revealed, via CBS News, that Holmes had given birth to her second child.
Hence, her defense team used having "two very young children" as a reason in its latest argument as to why she wasn't a "flight risk" and "should remain out of prison" while appealing her fraud conviction.
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"Ms. Holmes has deep ties to the community: She is the mother of two very young children; she has close relationships with family and friends, many of who submitted letters at sentencing vouching for her good character; and she volunteers with a rape crisis and counseling organization," the court filing read.
Holmes aims to delay serving her 11-plus year sentence, which is set to begin on April 27.
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