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Elizabeth Holmes Net Worth, Biography & Wiki 2017
Elizabeth Ann Holmes is an American business woman, born on 3 February 1984, in Washington, D.C. USA. She is the founder and the CEO of Theranos, a revolutionary company in the field of health technology and medical laboratory service.
So just how rich is Elizabeth Holmes? It has been reported by sources that her net worth reaches $4.7 billion, as of early 2016, making her the youngest self-made female billionaire on the 2014 Forbes 400 list. Her company has raised over $400 million from equity sales to investors, and has been valued at $9 billion, with Holmes retaining 50% of the company’s stock and thus earning impressive wealth.
Elizabeth Holmes Net Worth $4.7 Billion
Holmes’ father, Christian Holmes IV, worked in a government agency in the USA as well as in other places such as China and Africa, and her mother, Noel Anne, as a Congressional committee staffer. When Holmes was nine, her family moved to Houston where she attended St. John’s School. As her father’s career was often taking the family to China, Holmes completed three college Mandarin courses and started a business selling software (C ++ compilers) to Chinese universities. She wanted to pursue a medical career, but eventually changed her mind due to having a phobia of needles. Thus, after high school graduation in 2002, she chose to study chemical engineering at Stanford University where she started to work with professor Channing Robertson in his lab. She spent a summer at the Genome Institute in Singapore, researching innovative ways to diagnose the SARS virus.
Upon returning to Stanford, she developed a draft for patent application that would carry out multiple blood tests and transmit the data wirelessly to the secure database. After she consulted with Robertson, Holmes filed for patenting the application, and proposed that her professor build a diagnostic and health company where she would develop products based on her research. Consequently, she dropped out of college in 2003 as a 19-year-old sophomore to start her own company.
Holmes used her tuition money to establish the company named Real-Time Cures in Palo Alto, California, later changing its name to Theranos, combining the words ‘therapy’ and ‘diagnosis’. Over the next 10 years the company grew gradually with Holmes being extremely quiet in order to avoid inviting competitors. Robertson eventually retired from Stanford to join Theranos full time. The company has held several patents since, the most important one being its innovative blood-test technique requiring only a drop or two of blood drawn via a pinprick in the finger, instead of having large amounts of blood drawn with multiple testing and prolonged waiting for the results with the conventional blood testing procedures. This blood-test device called Edison immediately carries out blood analysis, allowing hundreds of different tests to be performed from a single sample, including the cancer tests. The results are ready much sooner, at far lower cost and with better accuracy than with the traditional venipuncture. This has brought the young entrepreneur significant wealth.
Currently, Theranos performs nearly 10 billion tests a year running a high-complexity laboratory. As Holmes reported, her team uses the same methods as the conventional labs. However, it is still unknown how it accomplishes these amazing feats.
Lately, the company has been criticized in the blood-diagnostic world for exaggerating its reach and reliability of its breakthrough technology, and using the tests without having first published any validation study in peer-review journals. Also, as the FDA (Food and Drug Administration) stated that the tiny blood containers the company uses were unapproved for any test except the herpes test, Theranos was ordered to limit the usage of its technology to only using the herpes test, among 200 other.
The company is currently submitting validation data in order to get FDA clearance for every test they use. Although it faces much skepticism, Theranus consistently attracts the service of some of the most influential people, and is backed up by some of the major companies.
A busy and devoted entrepreneur, Holmes leads a rather modest and work-centered life. Therefore, it can perhaps be said that her personal life is actually her work life. She is apparently still single and, reportedly, doesn’t even date, as her work takes most of her time.