It became worthless when the company collapsed. Later, Coopersmith pointed out that Balwani was such an ardent supporter of Holmes and Theranos that he never sold his stake in the company, even though at one point it was worth $500 million.
Balwani put his heart and soul into Theranos," Coopersmith said as he began his closing argument. In addition to his financial involvement in Theranos, Balwani joined the Palo Alto, California, company as chief operating officer in 2010 while clandestinely living with Holmes. It’s also believed that her sentences will be served concurrently, with a total maximum of 20 years behind bars.Jeffrey Coopersmith, one of the lawyers representing Balwani, painted Balwani as tireless executive who “put his money where his mouth is" by putting up about $15 million of his own fortune into Theranos between 20 because he believed in Holmes' vision. According to the New York Times, she faces a maximum sentence of 20 years in prison and a fine of $250,000 for each count she was found guilty on. Since being convicted in January 2022, Holmes is awaiting her final sentencing, which is scheduled for Sept. 26. (Her pregnancy, along with the coronavirus pandemic, led to the delay in her trial.) The couple got married in a private ceremony in 2019 and currently live in San Francisco, where Holmes gave birth to their first child, a boy, in July 2021. Despite the fallout she faced as the founder of the company, Holmes’ personal life has fared better.Īfter being released on bail ahead of her trial, Holmes became engaged to William Evans, an heir to the Evans Hotel Group. Since being indicted in 2018, Holmes has stepped down as CEO of Theranos. She added that she hopes The Dropout “offers insight into what was actually going on in those moments when those decisions were being made.” Where She Is Today
#THERANOS CEO ELIZABETH HOLMES FULL#
“There’s a lot of twists and turns in it, and it’s just full of surprises,” Meriwether said of the story about ambition gone wrong, adding that what happened to Holmes allowed them to have “interesting conversations around gender, around tech and business.” The book served as the basis for the 2019 HBO documentary, The Inventor: Out for Blood in Silicon Valley, directed by Alex Gibney. Not long after Theranos was exposed as a fraud, Holmes became the subject of several nonfiction accounts of her story, including Carreyrou’s popular 2018 book, Bad Blood: Secrets and Lies in a Silicon Valley Startup. At the time, the New York Times reported that she was “battling 12 counts of fraud and conspiracy to commit wire fraud over false claims she made about Theranos’ blood tests and business.” Despite maintaining her innocence, she was eventually found guilty on four counts of fraud in January 2022. Several years later, in 2021, Holmes was finally taken to court.
The two later caught the attention of Wall Street Journal reporter John Carreyrou, who was the first to publicly expose the mounting fraud within Holmes’ company in 2016.īy 2018, authorities got involved and charged Holmes and former company president Ramesh “Sunny” Balwani on several counts of fraud. Among them was entrepreneur Richard Fuisz, who filed patents related to Theranos’ blood-sampling technology before eventually teaming up with Stanford professor Phyllis Gardner to find out the truth behind Holmes’ company.
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