Who is Elizabeth Holmes? Theranos founder begins 11-year prison sentence. Details here (2024)

Synopsis

After several attempts to delay her jail time, Theranos founder Elizabeth Holmes will be serving time in federal prison starting May 30.

Who is Elizabeth Holmes? Theranos founder begins 11-year prison sentence. Details here (1)

Elizabeth Holmes is set to start serving her 11-year prison term on May 30, 2023. The entrepreneur, who had founded Theranos, was sentenced to 11 years in prison for fraud. Additionally, Holmes was ordered by a US federal court to pay $452 million with her former business partner Ramesh "Sunny" Balwani to all the high-profile investors of their company. The amount ordered by the federal court would serve as reimbursem*nt to victims for any loss of income, property damage, medical expenses or other financial costs related to the crime.

Know all about the case and Elizabeth Holmes blood-testing start-up.

Who is Elizabeth Holmes and what was Theranos?

Elizabeth Holmes is a Stanford University drop-out. Theranos was a start-up founded by Elizabeth Holmes in 2003 and claimed to be a "breakthrough health technology company" in the blood-tests domain. Theranos was valued at $9 billion.

Holmes hired famous names to raise money for Theranos, and managed to bring in US$700 million from investors, including the likes of Rupert Murdoch, media mogul, and Larry Ellison, business magnate, investor, and Oracle’s co-founder, executive chairman and chief technology officer. Donors to Theranos included Henry Kissinger, former Secretary of State, and the Walton family, founders of Walmart.

What happened to Theranos?

After it was revealed that the blood-testing technology of Theranos did not work, the company went defunct in 2018. As a result, many investors lost a fortune.

Is Elizabeth Holmes married?

In 2015, Elizabeth Holmes started dating hotel heir Billy Evans, and the couple quietly got married in 2019. The 39-year-old Holmes has two children with the 30-year-old Evans.

Which prison will Elizabeth Holmes be in?

For the start-up fraud, the federal judge who sentenced Holmes has recommended that she be incarcerated in a women's prison in Bryan, Texas, which is about a hundred miles from her hometown Houston.

FAQs:

Q1. Who is Elizabeth Holmes?
A1. Elizabeth Holmes is a Stanford University drop-out who had founded Theranos, a health-tech company.

Q2. Who is the husband of Elizabeth Holmes?
A2. Billy Evans.

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( Originally published on May 30, 2023 )

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