Everything to know about Elizabeth Holmes and her personal life!
The name may not captivate a legion of pop fans' attention but it certainly rings a bell, and not pleasant sounding. Elizabeth Holmes is currently known as the disgraced entrepreneur who duped investors out of millions; she is, hence, serving her 11 years sentence in Federal Prison Camp Bryan, Texas.
Holmes was once an entrepreneur with staggering potential. Born on February 3, 1984, in Washington D.C., Elizabeth shot to fame with the launch of her tech start-up, Theranos, in 2014. The previously deemed "revolutionary" start-up promised groundbreaking solutions in the medical field. Holmes was even touted as the next Steve Jobs. But her downfall began sooner than later.
The Rise of Elizabeth Holmes!
Born to now-bankrupt company Enron's vice president, Christian Rasmus, and Congressional committee staffer Noel Anne, Holmes' becoming and unraveling is often tracked back to her strenuous upbringing.
Insiders and famous psychiatrists blamed Holmes' parents, who reportedly pushed immense pressure on their daughter at a young age, for leading her down the road of illegality. Elizabeth's rise- to be called the youngest self-made female billionaire in the United States, in 2015, started with her dropping out of Stanford at 19.
The myriad of stories about Holmes's life, including the best-selling book, The Story of Elizabeth Holmes and Theranos, podcasts, and documentaries, presents Elizabeth to be a prodigious kid. She studied her way to land a seat at Stanford as an 18-year-old and dropped out at 19- sure and ready to enter silicon valley.
Under medicine professor Phyllis Gardner's guidance, Holmes founded Real-Time Cures in 2002. Citing her fear of needles as the inspiration behind the venture, Holmes claimed the technology will perform blood tests with a few droplets. She rebranded the start-up as Theranos, in 2003, and had Professor Channing Robertson on the venture as the first board member.
Despite the disheartening feedback from many experts, Holmes claimed the small test would be able to detect numerous medical conditions like cancer and high cholesterol. Among a bevy of venture capitalists and businessmen who believed in and invested in Holmes' company were Larry Ellison, and Tim Draper.
At its peak, in 2014, Theranos was valued at a whopping $9 billion, making Holmes the youngest self-made billionaire. As the CEO of the soaring biotech company, Elizabeth allegedly borrowed her image and work ethic from Jobs, a well-thought-out imitation that included her dressing style, office furniture, and even her crafted deep voice.
Elizabeth operated her empire with much secrecy; the once-lauded CEO even went as far as to keep the patent and the technology of Theranos hidden from her investors as a condition. Her well-converted business came crashing down after a whistleblower reported on the company's suspicious device.
The Fall of Elizabeth Holmes!
The ABC podcast, The Dropout, showed Elizabeth as an imperious boss, who pressed her employees endlessly. The show also presented the duality of the former CEO, who often slipped out of her crafted image. One of Theranos' earliest board members, Tyler Shultz, was the first to suspect and share his concern with the Wall Street Journal.
Holmes and Ramesh Balwani, her partner and former boyfriend, were sentenced to over 11 years in prison, in 2022!
The countdown to Holmes' downfall began when investigative reporter, John Carreyrou, tipped by several whistleblowers, conducted a month-long research of Holmes' "revolutionary scheme."
Despite the adamant compression from Holmes' legal team, John revealed the deceiving truth about Theranos, after a three-year-long investigation, in his book, Bad Blood: Secrets and Lies in a Silicon Valley Startup. Hence, followed a bunch of punitive measures that eventually landed Elizabeth in hot water.
It was later revealed that the Washington-born entrepreneur had been using third-party devices to run the test, and more often than not, the results were faulty. Holmes and Theranos's former president, Ramesh Balwani, were charged with fraud for overselling and advertising their false product.
Holmes stepped down as CEO the same year and the company defunct in September, leaving thousands of unaware and promising employees unemployed. Elizabeth was found guilty of four counts of defrauding investors and was sentenced to eleven years and three months in prison.
Her partner, Balwani, on the other hand, was sentenced to twelve years and eleven months. The convicted pair were also ordered to pay $452 million to the victims of the fraud. Holmes' lengthy prison sentence started earlier last month, in May.
Is Elizabeth Holmes Married?
The heavily documented life of Elizabeth's rise and fall barely touched on her personal life. The disgraced entrepreneur is, indeed, married. If you thought the former CEO's career choices to be murky then wait until you hear Holmes' personal trajectory.
The one-time Silicon Valley darling, 39, who previously dated her partner, Balwani, met her husband, Billy Evans, during the gradual downfall of her dubious empire. The duo's whirlwind romance escalated into the couple tying the knot in a secret ceremony, in 2019, and welcoming a child, in 2021.
Holmes revealed her second pregnancy shortly after her heavy sentence and was understandably accused of conceiving the second child to delay her sentence. Given her two infant children, Holmes and her husband requested that she remain free until an appeal, but the filing was rejected.
Holmes' husband, Evans, is the heir of the Evans Hotel Group. In addition to his hefty inheritance from his family, Billy has also worked a few high-profile jobs. Evans was portrayed by Garrett Coffey in Hulu's hit mini-series, The Drop Out.
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