Episode 2026
Elizabeth Holmes
Sat, 2022-Nov-19 02:45 UTC
Length - 3:52
Direct Link
Welcome to popular Wiki of the Day where we read the summary of a popular Wikipedia page every day.
With 208,778 views on Friday, 18 November 2022 our article of the day is Elizabeth Holmes.
Elizabeth Anne Holmes (born February 3, 1984) is an American con artist and former biotechnology entrepreneur convicted of criminal fraud. In 2003, Holmes founded and was the chief executive officer (CEO) of Theranos, a now-defunct health technology company that soared in valuation after the company claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, such as from a fingerprick. By 2015, Forbes had named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9-billion valuation of her company. In the following year, as revelations of potential fraud about Theranos's claims began to surface, Forbes revised its estimate of Holmes's net worth to zero, and Fortune named her in its feature article on "The World's 19 Most Disappointing Leaders". The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims and whether Holmes had misled investors and the government. In 2018, the U. S. Securities and Exchange Commission (SEC) charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of the company's blood-testing technology; Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her voting control of Theranos, and accepting a ten-year ban from serving as an officer or director of a public company.
In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer (COO) Ramesh "Sunny" Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud, with the victims being investors and patients. Her trial in the case of U. S. v. Holmes, et al. ended in January 2022 when Holmes was convicted of defrauding investors, and found not guilty of defrauding patients. On November 18, 2022, she was sentenced to 11.25 years (135 months) in prison by U. S. District Judge Edward Davila. The credibility of Theranos was attributed in part to Holmes's personal connections and ability to recruit the support of influential people, including Henry Kissinger, George Shultz, Jim Mattis, and Betsy DeVos, all of whom had served or would go on to serve as U. S. presidential cabinet officials. Holmes was in a clandestine romantic relationship with Balwani during most of Theranos's history. Following the collapse of Theranos, she started dating hotel heir Billy Evans, with whom she had a son in 2021.
Holmes's career, the rise and dissolution of her company, and the subsequent fallout are the subject of a book, Bad Blood: Secrets and Lies in a Silicon Valley Startup, by The Wall Street Journal reporter John Carreyrou; an HBO documentary feature film, The Inventor: Out for Blood in Silicon Valley; and a Hulu miniseries called The Dropout.
This recording reflects the Wikipedia text as of 02:45 UTC on Saturday, 19 November 2022.
For the full current version of the article, see Elizabeth Holmes on Wikipedia.
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