Elizabeth Holmes

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Elizabeth Anne Holmes (born February 3, 1984) is an American businesswoman who is the founder and former CEO of Theranos, a now-defunct firm known for claiming to have revolutionized blood testing using tiny amounts of blood, such as from a fingerprick.

Forbes named Holmes the youngest and most self-made female billionaire in America in 2015 on the basis of a $9 billion estimate of Theranos.

Forbes lowered her net worth to zero dollars by the next year after discovering suspicions of possible misconduct, and Fortune named Holmes as one of the world's Most Disappointing Leaders" in 2015.

Theranos and Holmes were charged by the Securities and Exchange Commission in 2018 with misleading or exaggerated information concerning her blood-testing methods; the company paid the fine and restitutionally suspended her voting rights; and she was barred from serving as an officer or director of a public corporation for ten years.

A federal grand jury charged Holmes and former Theranos chief operating officer Ramesh Balwani on nine counts of wire fraud conspiracy and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers in June 2018.

In June 2020, a trial is expected to commence.

The credibility of Theranos was in part attributed to Holmes' personal connections and his ability to recruit the help of influential people like Henry Kissinger, Hillary Clinton, George Shultz, James Mattis, and Betsy DeVos.

Holmes was in a relationship with her chief operating officer Ramesh "Sunny" Balwani, and the subsequent fallout, according to Wall Street Journal reporter John Caryrou, who wrote Bad Blood: Secrets and Lies in a Silicon Valley Startup.

Early life

Elizabeth Holmes was born in Washington, D.C., on February 3, 1984. Christian Rasmus Holmes IV, her father, was a vice president of Enron, an energy company that later went bankrupt as a result of an accounting fraud scandal. Noel Anne (née Daoust) Daoust, her mother, served as a legislative committee worker. Christian later served as a director in departments such as USAID, the EPA, and USTDA. Christian is a descendant of Denmark. Charles Louis Fleischmann, a Hungarian immigrant who founded the Fleischmann's Yeast company, was her paternal great, great grandfather. According to a family friend, Joseph Fuisz, the Holmes family was "very proud of its yeast empire" history during the days of yore, when the family was one of America's richest families. And I suspect Elizabeth channeled it, even at a young age. Her mother was born in Georgia and has French Canadian roots on her father's side.

Holmes attended St. John's School in Houston. She was keen on computer programming while attending high school and founded her first company, selling C++ compilers to Chinese universities. Holmes' parents arranged Mandarin Chinese tutoring and partway through high school, and she began attending Stanford University's summer Mandarin program. Holmes studied chemical engineering and laboratory assistant at the School of Engineering in 2002, where she worked as a student researcher and laboratory assistant.

Holmes spent her freshman year working in a laboratory at the Genome Institute of Singapore and tested for severe acute respiratory syndrome coronavirus (SARS-CoV-1) by syringe collection. In 2003, she lodged her first patent application for a wearable drug-delivery patch. She dropped out of Stanford's School of Engineering in March 2004 and used her tuition funds to fund a consumer healthcare technology firm.

Personal life

Holmes was romantically connected with technology entrepreneur Ramesh "Sunny" Balwani, a Pakistani-born Hindu who immigrated to India and then the United States, who migrated to India and then to the United States. She first met him in 2002 on a trip to Beijing as part of Stanford University's Mandarin program. Holmes, who was 18 years old at the time, had just graduated from high school; Balwani was 19 years older than she was and married to another woman at the time.

Balwani divorced his wife in 2002 and became intimately involved with Holmes in 2003, about the same time Holmes dropped out of college. In 2005, the couple moved into a joint apartment. Despite the fact that Balwani did not officially join Theranos until 2009, when he was given the title of chief operating officer, he was still advising Holmes behind the company's scenes from the beginning. According to employees, Holmes and Balwani jointly operated the company with a corporate culture of "secrecy and terror." For a large part of their time as CEO, their intimate affairs were kept private. Balwani left Theranos in 2016 as a result of probes. Holmes has reported that she shot him, but Balwani says he left on his own accord.

Holmes testified on November 29, 2021, that she was assaulted while studying at Stanford and that she sought solace from Balwani in the aftermath of the tragedy. Balwani was very controlling during their intimate marriage, which lasted more than a decade, and she confessed that he assaulted her on occasion. She said in her testimony that she had also wanted to "kill the person" she was in order to establish a "new Elizabeth." However, she also testified that Balwani had not coerced her to make the inaccurate claims to investors, business partners, journalists, and company directors, who had not been identified in the lawsuit. Balwan has "categorically" denied abuse allegations, dismissing them as "false and inflammatory" in court filings.

Holmes held half of Theranos' shares before the March 2018 settlement. With a net worth of $4.5 billion, Forbes listed her as one of America's Richest Self-Made Women in 2015. Forbes recently updated Forbes' valuation of Theranos, which made Holmes' interest practically worthless, because other investors owned preferred shares and may have been paid before Holmes, who owned only common stock. According to reports, Holmes owed Theranos $25 million in connection with exercising stock options. She did not get any company money from the merger, nor did she sell any of her shares, including those associated with the debt.

Holmes became engaged to William "Billy" Evans, a 27-year-old heir to Evans Hotels, a family-owned hotel company in the San Diego area, in early 2019. Holmes and Evans are said to have married in a private ceremony in mid-2019. Holmes and Evans haven't decided if the two are legally married, and many sources continue to refer to him as her "partner" rather than husband. Both of the couple live in San Francisco. In July 2021, Holmes gave birth to a son. It was announced that she was pregnant again in October 2022, weeks before her sentencing hearing.

NPR obtained a copy of a partial police report from the evening of October 5, 2003, in which Holmes called the cops and claimed she was sexually assaulted at a fraternity house at Stanford between 1 a.m. and 3 a.m. that morning. Holmes said the police report backed up her allegations made during the trial: "I was asking how I was going to process the [rape] experience and what I wanted to do with my life, and I decided that I was going to build a life by building [a company]." Later this year, she had begun Theranos. The deputies' report was written by the deputies who responded to the call, but no arrest has been given and no further details were given, but it does identify the Sigma Chi fraternity house as the location.

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