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Elizabeth Holmes
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Entrepreneur
    (February 3, 1984- )
    Born in Washington, District of Columbia
    Founded the health care technology company Theranos (2004)
    CEO of Theranos (2004-18)
    Claimed to have developed a miniaturized blood testing device, dubbed Edison, that required 1/100th the amount of blood used by existing tests
    Net worth according to Forbes in 2015: $4.5 billion
    Net worth according to Forbes in 2016: $0
    She imitated Steve Jobs by adopting a ‘uniform’ of a black suit and black turtleneck sweater.
    She is a vegan, who frequently drinks a blend of cucumber, parsley, kale, spinach, lettuce and celery.
    The Wall Street Journal reported that Theranos was actually using traditional blood testing devices to run analyses because the Edison machines were inaccurate (2015).
    It also reportedly ran fake ‘demonstration tests’ for potential investors.
    The company lab in Newark, California, failed an inspection by The Centers for Medicare and Medicaid Services, which banned Holmes and Theranos from owning or operating a blood testing lab for two years (2016).
    The Securities and Exchange Commission (SEC) filed fraud charges against her for, among other infractions, reporting company revenues as $100 million when they had only been $100,000, and presenting investors with fake endorsements from pharmaceutical companies; the suit was settled with Holmes paying a $500,000 fine, relinquishing 18.9 million shares of stock, and being banned from serving as an officer in a public company for ten years (March 14, 2018).
    A federal grand jury indicted her on nine counts of wire fraud and two counts of conspiracy to commit wire fraud (June 15, 2018).
    While in high school, she completed three college courses in Mandarin Chinese.
    Forbes briefly recognized her as the world’s youngest self-made billionaire (2015).
    She was the youngest recipient of the Horatio Alger Award (2015).
    Under her settlement with the SEC, she cannot profit from Theranos being sold or liquidated until $760 million is repaid to investors.

Credit: C. Fishel


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