A £9bn lie: Blood testing company boss Elizabeth Holmes was the mesmerising beauty who became the world's youngest self-made billionaire backed by the likes of Bill Clinton - but now faces 20 years behind bars
Many children dream of becoming a ballerina or train driver, but at nine years old Elizabeth Holmes’s ambitions were rather more grandiose. With the precocious self-belief that would come to define her, the little girl informed her relatives of her intention to become a billionaire.
‘Don’t you want to be president?’ they teasingly asked her. No, she replied.
Nothing but a billionaire would do. And, remarkably, by the time she was 31 in 2015, she had achieved her goal. Her blood-testing company, Theranos, was valued at $9 billion (£7 billion), making her the youngest self-made billionaire in America.
The country was spellbound. Two former secretaries of state, Henry Kissinger and George Shultz, invested in her business. So convinced was media mogul Rupert Murdoch, that he ploughed $125 million (£96 million) into Theranos.
Former President Bill Clinton and then-Vice President Joe Biden were among the illustrious supporters seemingly dazzled by Holmes and her vision.
Young, attractive and with a fervent self-proclaimed passion for revolutionising health care, she was feted as her generation’s Thomas Edison, inventor of the electric lightbulb.
Photographs capturing her halo of blonde hair and big blue eyes – which interviewers noted never seemed to blink – appeared on the covers of prestigious magazines such as Forbes and Fortune.
She insisted on wearing the same outfit of black trousers and a black polo-neck every day, just like Apple founder Steve Jobs, and completed the overall effect by speaking in a bizarrely deep voice.
Yet Holmes cut a very different figure the last time she was seen in public, wearing a low-key grey trouser suit and a pale blue shirt.
Appearing in court last month for a pre-trial hearing, her face was wiped clean of the heavy make-up that was once as ubiquitous as the polo-necks, as if to project an aura of girlish innocence.
And the reason for this astonishing fall from grace? Her ground-breaking invention, a machine she claimed could perform hundreds of tests on just a tiny drop of blood taken from a pin-pricked finger, had been exposed as a humiliating sham, her attempts to conceal the truth laid bare in excruciating detail. Quite simply, it didn’t work.
By June 2016, to the horror of her wealthy investors, Theranos was valued at zero. Then last year it was dissolved. Holmes and her deputy, Sunny Balwani, were charged with nine counts of fraud.
Her trial is set for July and, if convicted, she faces up to 20 years in prison. She is still only 35.
http://www.stationgossip.com/2019/05/a-9bn-lie-blood-testing-company-boss.html