Elizabeth Holmes, once the founder and CEO of Theranos, media darling and silicon valley tycoon has suffered an almighty fall from grace. How did it happen?
Theranos founder and former CEO Elizabeth Holmes has been convicted of defrauding investors and is now facing up to 20 years in prison following a three-month trial which began in August 2021.
After a week of deliberation the California jury found Holmes guilty of two counts of wire fraud and two counts of conspiracy to commit fraud. The conviction marks the end of a stunning fall from grace from the former Silicon Valley CEO. Once heralded as the new Steve Jobs, Holmes had created a buzz rarely seen in the med-tech sphere and had secured funding from a raft of politicians, moguls and venture capitalists.
Forbes once described her as “the world's youngest self-made female billionaire” and Inc. magazine famously lauded Holmes as “the next Steve Jobs” and featured her on their cover. Theranos quickly rose to a valuation of $9bn. But it didn't last. The success was all an illusion as we detailed in our exlusive article here
However, following startling revelations in the press, Theranos, and Holmes were exposed leading to one of the most sensational trials of a former CEO to date. Prosecutors in California accused the former Silicon Valley tycoon of knowingly lying about the technology Theranos was using for its Edison machines that Holmes claimed could detect a wide range of diseases with just a few drops of blood.
Watch our exclusive video detailing Holmes incredible rise and subsequent fall.
You can read more about Elizabeth Holmes incredbile rise to the top of the silicon valley tree in our article Elizabeth Holmes: When the Illusion of Success is all That Matters
