Elizabeth Holmes is an American businesswoman who has a net worth of $0. Elizabeth Holmes is the founder and CEO of Theranos, an American health technology, blood diagnostics, and medical laboratory services company that is based in Palo Alto, California. She was born in 1984 in Washington, DC to her father, Christian Holmes IV who worked in the US, Africa and China as part of government agencies like USAID and her mother, Noel who worked as a Congressional committee staffer. One of her ancestors was a founder of the Fleischmann's Yeast Company and she is also related to actress Katherine MacDonald who was married to Christian Holmes II. As a child, she read the biography of her great-great-grandfather Christian R. Holmes, who was a surgeon, engineer, inventor and a decorated World War I veteran. The biography inspired her to take up medicine, but after discovering she had a fear of needles, she later attributed the work of her great-great-grandfather as one of the driving factors behind Theranos. Holmes proposed establishing a company to Professor Robinson in the fall of 2003, while she was a 19-year old sophomore at Stanford. She used the money that her parents had saved for her education, to establish Real-Time Cures in Palo Alto, the company's name would later be changed to Theranos. Over the next decade, the company grew gradually, raising $400 million from Draper Fisher Jurvetson and Larry Ellison, among others. During this time, Theranos operated in "stealth mode", remaining highly secretive to avoid potential competitors and investors who could fund a competitor. By 2014, the company offered 200 tests and was licensed to run in every state of the US. Holmes retained control over more than 50% of the company's equity and has over 18 US patents and 66 non-US patents in her name. Holmes was the youngest self-made woman billionaire on the 2014 Forbes 400 list.
Loss Of Fortune
In June 2016, a report revealed that Elizabeth's paper fortune of $4.5 billion had been essentially wiped out to zero. This dramatic drop in fortune was a result of a series of investigations that reduced her company's former valuation from $9 billion to $800 million. Unfortunately, Elizabeth's 50% stake is worth nothing at that valuation because her investors would have the right to be paid back with any money that was received.