Elizabeth Holmes

Elizabeth Holmes (born February 3, 1984) is an American former entrepreneur who is best known as the founder and former CEO of Theranos, a now-defunct health technology company. Holmes founded Theranos in 2003 with the aim of revolutionizing the medical testing industry by developing a device capable of running a wide range of tests using just a few drops of blood. However, the company's claims were later exposed as fraudulent, and Holmes was charged with multiple counts of wire fraud and conspiracy to commit wire fraud. In 2022, she was convicted on several of these charges.

Early life and education

• Elizabeth Holmes was born on February 3, 1984, in Washington, D.C. She attended St. John's School in Houston, Texas, and later enrolled at Stanford University to study chemical engineering. While at Stanford, Holmes filed her first patent application for a wearable drug-delivery patch. She dropped out of Stanford in 2003 to focus on her startup, Theranos.

Theranos

• Founded in 2003, Theranos aimed to revolutionize the medical testing industry by developing a device called the "Edison" that could run a wide range of tests using just a few drops of blood. The company raised millions of dollars from investors and was valued at over $9 billion at its peak.
• However, in 2015, the Wall Street Journal published an investigation that revealed the company's testing technology was unreliable and inaccurate. The report also alleged that Theranos had manipulated test results and used commercially available machines for some tests instead of its proprietary Edison devices.
• As a result of the revelations, Theranos faced investigations by regulatory agencies, and its testing services were suspended. In 2018, the company dissolved, and its remaining assets were distributed to creditors.

Legal issues and conviction

• In 2018, Elizabeth Holmes and former Theranos president Ramesh "Sunny" Balwani were charged with multiple counts of wire fraud and conspiracy to commit wire fraud. They were accused of defrauding investors, doctors, and patients by falsely claiming that Theranos' technology could accurately and reliably perform a wide range of tests with just a few drops of blood.
• Holmes pleaded not guilty to the charges, and her trial began in September 2021. In January 2022, she was convicted on four counts, including three counts of wire fraud and one count of conspiracy to commit wire fraud. She was acquitted on four other counts, and the jury was unable to reach a verdict on three remaining counts.

Personal life

• Elizabeth Holmes was previously in a relationship with Ramesh "Sunny" Balwani, the former president of Theranos. The couple's relationship was revealed during their trial. Holmes is currently in a relationship with hotel heir William "Billy" Evans, with whom she has a child.

See also

• Theranos
• Startup companies
• Healthcare technology

References

• Wall Street Journal: Hot Startup Theranos Has Struggled With Its Blood-Test Technology
• New York Times: Elizabeth Holmes, Theranos Founder, Is Convicted of Fraud
• Business Insider: The rise and fall of Elizabeth Holmes, the Theranos founder who went from being a Silicon Valley star to being found guilty of wire fraud and conspiracy

External links

• CNBC: Everything you need to know about Elizabeth Holmes' criminal fraud trial
• BBC News: Elizabeth Holmes: The dizzying rise and dramatic fall of a tech billionaire

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Elizabeth Holmes

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  Elizabeth Holmes in 2014

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  Elizabeth Holmes at a nuclear nonproliferation discussion in 2013