Is Elizabeth Holmes really bankrupt?! Just one year after the founder of blood testing company Theranos was estimated to be worth $4.5 billion, suddenly her net worth has tanked to zero. Find out more about Elizabeth and her crazy situation right here!
Rich girl no more! Elizabeth Holmes, the chief executive and founder of health technology company Theranos, has been dethroned as America’s richest self-made woman. But she wasn’t just knocked off the top spot — Elizabeth’s net worth has completely been wiped out! So what exactly happened to Elizabeth and her controversial company? Get the facts below!
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1. Most of Elizabeth’s money has gone to private investors.
When Forbes initially valued Theranos at around $9 billion, it was because of the money private investors had put into the company. But now the publication is realizing that a more appropriate valuation is $800 million — which means Elizabeth’s stake is essentially worth nothing, even despite still owning half the company.
2. She was once the youngest female billionaire in the nation.
Before Forbes took the entirety of her valuation away, Elizabeth’s $4.5 billion net worth made her not only the richest self-made woman, but the youngest to earn so much money too.
3. Her company may not be as incredible as she was hoping.
When Elizabeth first started up Theranos in 2003, she declared that the company would revolutionize the lab industry, cutting costs on traditional testing by offering blood tests from a single finger prick. As employees have left the company, though, some have said that the tests are unreliable…making it controversial even before Elizabeth’s net worth tanked.
4. Theranos is currently under investigation, even facing a lawsuit.
Elizabeth and her company are under fire for consumer fraud and false advertising after an Arizona resident who purchased a Theranos test alleged that he was mislead to believe that the tests give accurate results. Although the company has declared in a statement that it will “vigorously defend itself against these claims,” the latest financial development with the company surely won’t help anything!
5. Elizabeth will be presenting information at a conference in August that could prove these bankruptcy rumors false.
Although she is personally keeping mum amidst the controversy currently, she has vowed that she will reveal all eventually. She is expected to publicly present some data at the annual meeting of the AACC in August, so we could very well get some more answers in just a couple of months.
Are you shocked that Elizabeth is apparently now worth nothing, HollywoodLifers?