Skip to comments.Theranos founder's net worth goes from $4.5 BILLION to nothing amid fraud claims
Posted on 06/01/2016 11:50:25 AM PDT by CorporateStepsister
Last year she was on top of the world, but now Elizabeth Holmes has a net worth of zero.
Holmes, who is the founder of blood-testing company Theranos, was at the top of Forbes' list of the richest self-made women in America with a net worth of $4.5billion last year.
However, Forbes has lowered their estimate of her net worth to nothing, amid allegations that the blood-testing company she founded in 2003 has inaccurate tests and is being investigated by federal agencies.
Theranos Inc was sued on Thursday, accused of endangering customer health through 'massive failures' that misrepresented the accuracy and quality of its blood tests, according to court papers.
The proposed class action was brought in the U.S. District Court for the Northern District of California by the law firm Hagens Berman Sobol Shapiro LLP.
(Excerpt) Read more at dailymail.co.uk ...
May be it was nothing to be begin with. From nothing to nada!
She was hyped as THE genius who was also a feminist icon of a successful career woman. now that is down the tubes.
I hate when my net worth drops from $4.5 billion to nothing.
I can’t imagine how she’s feeling right now. Went to bed a multi-billionaire and wakes up to having nothing. No more posh house, fawning press, or perhaps much of anything anymore. That is a HUGE drop.
That happened to me once.
Oh, wait. Nope, it didn't.
She’s going to be passed around to the girl with the most cigarettes once she’s put in prison.
“Easy come.. easy go”
Successful women can be crooks too!
Maybe she wasn’t a crook. The Big Pharmas and AMA were against her from the beginning. They didn’t like her product because it would cut into their profits. It may have not been 100% accurate but some people would like to avoid unnecessary trips to the doctor and expensive tests if they can avoid them. It should be up to the people if 91% accuracy is good enough or not.
Hey, it was all just on paper, anyway. Maybe she can get her old job back at McDonald’s.
This has been bubbling for a long time.... looks like its finally hitting the fan.
I remember reading about this young lady in Fortune, or Forbes, or something. "Brilliant Genius Feminist Icon, Sticking it to The Man", or somesuch.
Guess Not. I won't wait for a retraction. FWIW, when I read the article about how smart she was, my first thought was "Methinks the lady doth protest too much". Generally, people who need to tell me how smart they are ...... aren't.
Yes, don’t expect much coverage by the mainstream media. They’d rather push the myth...
You make a valid point.
One problem I have long had with what I now call Cookie-Cutter Conservatives is that they mirror the simplistic dichotomy of the opposition:
Left: Government good, business bad. Right: Business good, government bad.
Too many “conservatives” have an implicit faith in the FDA and Big Pharma, et cetera; they only criticize the FDA when it seems to be interfering with a Pharma (a blessed and sacrosanct private-sector business!) from releasing the latest drug fad (that won’t cause liver damage until used for a month longer than the trial period lasted).
I have learned enough about the FDA over the years to rank them on a par with the EPA. They are not looking out for us or for our freedoms.
Like all such bureaucracies, they are unConstitutional: These things belong to States’ Rights.
Applied to her company 5 times, she didn’t hire me.
Eh...I’d have preferred a job, but this is a good runner-up.
Bye, bye Liz..!
Yes, more and more the successful genius "Uber Bitch" executives all seem to be bullshit.
She still has the gig as 0bama's Global Entrepreneurship Ambassador.
Which would be kind of Ironic if it weren't typical... Everything about money, business and economics out of the 0bama Administration is fraud, smoke and mirrors.
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