Elizabeth Holmes, was once labeled the world’s youngest self-made billionaire female category.
Holmes founded a company called Theranos.
If you had been to the hospital, you would know how painful it is to get blood samples to run investigations. To run laboratory investigations you need a reasonable amount of blood and some laboratory investigations are very expensive.
Theranos promised to solve these problems using a device they called the Edison.
These are what she claimed her Theranos was doing:
- Run more than 200 laboratory investigations using a drop of blood gotten through a finger prick and the results would be ready within hours.
- Reduced the prices of investigations to almost half the conventional prices.
In 2014 the company was valued at $9 Billion.
Image: Theranos Headquarters.
Elizabeth Holmes owned fifty percent of the company, her net worth was $4.5 billion in 2014.
Well, Elizabeth Holmes’ Edison never carried out any laboratory investigations. All her claims were lies. The laboratory investigations they were conducting were done with contemporary machines until she was exposed. She conned her investors.
She faces her trial this year, if convicted she will serve up to 20 years jail term.