![]() ![]() October 2015: The Wall Street Journal publishes an investigative report that suggests Theranos technology doesn’t actually work. ![]() ![]() This is the first and only Theranos test given FDA approval. July 2015: The Food and Drug Administration approves Theranos to use a pinprick of blood for herpes testing. In June 2014, Fortune said Theranos raised $400 million from equity sales to investors and values the company at $9 billion. She is the youngest, richest, self-made female billionaire on the 2014 Forbes 400 list. 110 on the list with a net worth of $4.5 billion. After revealing she owned 50% of Theranos, Holmes landed at No. September 2014: At 30-years-old, Holmes is named one of the richest women in America by Forbes. The first center opens up in Palo Alto, California. ![]() The plan is to bring Theranos Wellness Centers to Walgreens nationwide where consumers can easily access Theranos blood-testing centers. September 2013: Nearly a decade after starting Theranos, Holmes announces that Theranos and Walgreens have entered a long-term partnership. Marine Corps general) to its board of directors which already includes former secretaries of state George Shultz and Henry Kissinger. Kovacevich (former chief executive of Wells Fargo) and James Mattis (former U.S. The pair secretly dated while they were running the company, per Forbes. September 2009: Ramesh “Sunny” Balwani joins Theranos as COO with the promise of a $10 million loan.īalwani - who is 20 years older than Holmes - met Holmes on a language-immersion trip through Stanford. “I was doing this full time.”īy December 2004, Holmes has raised $6 million from investors, per the New Yorker. “I got to a point where I was enrolled in all these courses, and my parents were spending all this money, and I wasn’t going to any of them,” Holmes told the New Yorker. She creates Theranos (a combinations of the words “therapy” and “diagnosis”). March 2004: As a 19-year-old college sophomore studying chemical engineering, Elizabeth Holmes drops out of Stanford to pursue her dreams of developing a company. How much prison time does she face?īrief timeline of the Elizabeth Holmes and Theranos debacle ‘I failed them’: Tech fraudster Elizabeth Holmes sentenced to over 11 years in prisonĮlizabeth Holmes found guilty on multiple counts of fraud. I regret my failings with every cell of my body.” I have felt deep pain for what people went through, because I failed them. “I stand before you taking responsibility for Theranos,” Holmes said, as reported by the Deseret News. The Theranos empire came crashing down in wake of multiple reports in 2015 - led by then-Wall Street Journal journalist John Carreyrou - that claimed Holmes’ tech was incapable of accurately diagnosing medical conditions and often produced false results.Īfter a lengthy trial, Holmes was sentenced with 11 years, three months in prison on Nov. James Mattis and former director of the Centers for Disease Control and Prevention William H. The board of directors included former secretaries of state George Shultz and Henry Kissinger, former U.S. Theranos attracted several of high-profile investors such as Rupert Murdoch, former Education Secretary Betsy DeVos, the Walton family (heirs to the Walmart fortune) and Larry Ellison. ![]()
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