'Theranos' Founder Elisabeth Holmes Went From $4.5 Billion To Zero
After topping the Forbes list of America's Richest Self-Made Women, Theranos Founder and CEO, Holmes is now left with nothing. Aside from Theranos going broke, the medical company is also left with a class action fraudulent lawsuit.
The blood testing company under the leadership of Elisabeth Holmes went from a net worth of $4.5 billion to zero. According to Forbes, several investors backed out and pulled out their investments as the company still was not able to provide the concrete output of their latest blood testing technology.
Forbes added that Elisabeth Holmes net worth was solely reliant on the 50 percent on the funds from Theranos, which is said to worth $9 billion.
But according to Forbes, based on their latest information, Theranos is only worth less that $100 million. Their decreasing net worth was then greatly affected after multiple investors decided to pull out, leaving them with nothing on their bank account.
One of the reasons being pointed out by Forbes that caused their bank account to take a huge dip was their lack of results. That being said, Forbes' Matthew Harper stated that Theranos still have not produce any data that proves their blood testing technology does work.
Aside from lack of proof, Theranos also failed to released they data that they are bound to report within a 6 month time frame.
Despite being slammed with bankruptcy issues and lawsuit cases, Theranons denied the allegations pointed out by Forbes. The company's spoke women told Times that Forbes lack evidence and existing proof that they are low on numbers.
Though there was not given proof that they're going down, several news websites including The Wall Street Journal however mentioned their lawsuit.
"As a privately held company, we declined to share confidential information with Forbes," Theranos spokeswoman Brooke Buchanan told Time. As a result, the article was based exclusively on speculation and press reports.