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Entrepreneur Elizabeth Holmes claimed to have developed a groundbreaking machine capable of running blood tests based on a single finger prick, which would have revolutionized medical testing. She raised millions of dollars to fund her company, Theranos, and landed on the cover of publications like Forbes and Fortune. Business magazine Inc. went so far as to call her “The Next Steve Jobs.”
Except, as it turned out, Holmes had lied. She had duped investors and journalists into thinking the “revolutionary” technology she created actually worked. She told Theranos employees the company was doing well when it was tanking. And she put people who used her machines at incredible risk.
Theranos was investigated by the FBI and shut down for good last year. The Centers for Medicare & Medicaid Services said the company posed an “immediate jeopardy to patient health and safety.” Holmes’ wealth, once estimated by Forbes to be $4.5 billion, quickly dropped to zero.
The company’s rise and fall has been the subject of a book (John Carreyrou’s Bad Blood), podcasts, and television shows. (A movie starring Jennifer Lawrence is also in the works.) The latest project is HBO’s The Inventor, which follows Holmes from the beginning to her damning 2018 indictment in June. Today, the entrepreneur awaits trial on charges that could land her a maximum of 20 years in prison. She reportedly lives “in a luxury apartment” and recently got engaged to a young hospitality heir. Here’s what to know about her life today.
Holmes pleaded not guilty last summer.
In June 2018, Holmes and former Theranos COO Ramesh “Sunny” Balwani were indicted on two counts of conspiracy to commit wire fraud and nine counts of wire fraud.
Both pleaded not guilty and were released on $500,000 bail. Holmes faces up to 20 years in prison.
Their legal fate will not be known for a while.
That’s because there are more than 16 million pages of documents in the Theranos case. “This story is bigger than what’s captured in the indictment,” Assistant U.S. Attorney John C. Bostic said last year.
A status hearing has been set for April 22, 2019 in San Francisco; Holmes and Balwani are expected to attend.
“Elizabeth sees herself as the victim.”
A former executive close to Holmes told Vanity Fair the former Theranos leader blames those around her—lawyers, journalists, other employees—for the the company’s implosion.
“Elizabeth sees herself as the victim,” the person said. “She blames [journalist] John Carreyrou, she blames [lawyer] David Boies, and she blames [lawyer] Heather King.”
She’s engaged and living “in a luxury apartment.”
That’s according to Vanity Fair‘s Nick Bilton, a consulting producer on the HBO’s The Inventor. “She’s engaged to a younger hospitality heir, who also works in tech,” writes Bilton. “She wears his M.I.T. signet ring on a necklace and the couple regularly post stories on Instagram professing their love for each other.”
Bilton posted photographs of the couple on Twitter, below.
“She reliably looks ‘chirpy’ and ‘chipper,'” writes Bilton. “She’s also abandoned the black-turtleneck look and now dresses in athleisure, the regrettable attire of our age. Notably, she is far from a hermit.”
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