From $4.5 Billion To $0: Theranos Founder’s Net Worth Bottoms Out, Forbes Estimates
Forbes magazine estimates that Elizabeth Holmes' stake in her own company is "essentially worth nothing." The blood-testing startup has been plagued with difficulties in the past year, which have caused the value drop.
Forbes Estimates Theranos Founder's Net Worth Now Zero
Forbes magazine on Wednesday reduced its estimate of the net worth of Elizabeth Holmes, the founder and chief executive of health technology company Theranos Inc, to zero from $4.5 billion last year. Holmes' blood-testing company has been under investigation by several federal and state agencies and was accused in a suit filed last week of endangering customer health through "massive failures" that misrepresented the accuracy and quality of its blood tests, according to court papers. Forbes said private investors had bought stakes in Theranos that implied a $9 billion valuation but said $800 million is a more realistic figure. (Tennery, 6/1)
Theranos CEO Holmes’ Net Worth Is Now Zero, Says Forbes
Forbes announced today it has revised its estimate of the net worth of Theranos founder Elizabeth Holmes, from last year’s $4.5 billion to: absolutely nothing. Analysts cut the estimate of the company’s net worth to $800 million, a fraction of its previous estimated value of $9 billion. (Brooks, 6/1)