Who is Elizabeth Holmes and what is her net worth 2018? Elizabeth Holmes is an entrepreneur who is the CEO and founder of the blood test company called ‘Theranos’. Her company is located in Palo Alto, California. She is also an inventor. In 2015, she was listed in “100 Most Influential People” by Time. A series of investigations have been made under her company for misleading the investors. She has been banned from operating, directing or owning a diagnostic lab for two years by Centers for Medicare and Medicaid Services in 2016. She was named as one of the “World’s Most Disappointing Leaders” due to her fraud.
Elizabeth Anne Holmes was born on February 3, 1984, in Washington, D.C. She was born to parents Christian Holmes IV and Noel Daoust. Her mother was a staffer in the congressional committee and her father was a service worker. She has a brother named Christian Holmes V. At the age of nine, her family moved to Houston, Texas. As a child, Holmes studied The Mandarin language. She went to St. John’s School located in Houston. In school, she was involved in computer programming and used to sell C++ compilers to various Chinese universities.
She was named as the President’s Scholar and applied to Stanford University in 2001. Her subject was chemical engineering and also used to work in the lab with the dean of the engineering school and Ph.D. candidates. She also used to work at the Genome Institute of Singapore for testing SARS (severe acute respiratory syndrome). In 2003, she filed her first patent. She dropped out of college in March 2004 and used her tuition money for healthcare technology company.
Elizabeth Holmes owns 50% ownership in Theranos. Her father has worked for various agencies like USAID and has worked in many countries in China, United States, and Africa. She has a fear of needles and was inspired by the outfit of Sharon Stone.
In 2003, Elizabeth founded the company ‘Theranos’ in Palo Alto, California to “democratize healthcare”. The name of the company has been taken from “therapy” and “diagnosis”. In 2011, her company got recognised after meeting George Shultz, Secretary of State. In September 2013, the company entered into a partnership with Walgreens.
In 2015, she made agreements with AmeriHealth Caritas, Capital BlueCross, and Cleveland Clinic for using Theranos technology. In 2015, The Wall Street Journal reported that Theranos provide inaccurate blood-testing results. In 2016, Holmes received a warning letter from the CMC (Centers for Medicare and Medicaid Services). Following that, there was a two-year ban imposed on Holmes.
There are also other ongoing actions like the Attorney Office of the Northern District of California and the U.S. Securities and Exchange Commission. There are also two fraud lawsuits against her and an FBI investigation is going on. In May 2017, she released a portion of her share to offset the dilution of stock for non-participating shareholders.
Elizabeth Holmes has been named in Fortune’s “40 Under 40” and “Businessperson of the Year” lists. She was named as the “Most Powerful Women” by Forbes in 2015.She was conferred with the Horatio Alger Award in 2015. Glamour also named her as “Woman of the Year”.
Net Worth of Elizabeth Holmes
Elizabeth Holmes found quite a success at very young age. She dropped out of Stanford’s engineering college only to venture into Theranos. Her net worth is $4.6 billion. In 2015, she was a youngest self-made female billionaire with Theranos value exceeding $9 billion.
In 2004, she raised $6 million for Theranos and the venture capital was more than $92 million in 2010. In 2014, she was considered as the “The Next Steve Jobs” by Forbes, Inc., Fortune, and T: The New York Times Style Magazine. Also in 2014, Holmes had 84 patent in her name and Forbes 400 ranked her at 110 in the list of richest billionaires.
Elizabeth Holmes is the youngest person to win the Horatio Alger Award. She owes debt over $25 million following her connection to the fraud in Theranos. The valuation of Theranos has been estimated at $800 million by Forbes and it makes her worthless.