Elizabeth Holmes spent years as a successful biotech entrepreneur. Now, she’ll spend the next 11 years in prison.
Topline
Here’s how Elizabeth Holmes, the 39-year-old founder of failed blood-testing company Theranos, went from a billionaire in Silicon Valley to a Bryan, Texas, minimum-security federal prison camp, where she will report Tuesday at 2 p.m. to begin her 11-year sentence.Key Facts
Within about 10 years of its founding in 2003, Theranos was valued at $9 billion and Forbes named Holmes the youngest self-made woman billionaire in 2014.
Both Holmes and Theranos’ downfall began in 2015 after the Wall Street Journal revealed the company relied on other blood machines instead of their own device, known as the Edison, and when their machines were in use, patients were receiving inaccurate diagnoses.
By 2016, the startup’s deal with Walgreens was terminated, prompting the closure of 40 Theranos Wellness Centers at Walgreens across Arizona, and Theranos swiftly came under investigation by the Securities and Exchange Commission, the Food and Drug Administration, the Centers for Medicare and Medicaid, Pennsylvania Department of Health and Arizona Department of Health.
