Career Timeline of Elizabeth Holmes: Major Achievements and Milestones
How Elizabeth Holmes built a successful career. Explore key moments that defined the journey.
Elizabeth Holmes is an American entrepreneur and the founder of Theranos, a blood-testing company that falsely claimed to have revolutionized blood testing with innovative methods using minimal blood. Theranos's valuation reached $9 billion, making Holmes the youngest self-made female billionaire in 2015, according to Forbes. However, investigations revealed the company's technology was fraudulent, leading to a drastic revision of Holmes's net worth to zero and tarnishing her reputation. She was subsequently convicted of fraud for her role in the Theranos scandal.
2003: Holmes Founds Real-Time Cures
In 2003, Elizabeth Holmes founded the company Real-Time Cures in Palo Alto, California, later renamed Theranos, to "democratize healthcare".
2003: Holmes Works at Genome Institute of Singapore
In 2003, after her freshman year at Stanford, Elizabeth Holmes worked in a laboratory at the Genome Institute of Singapore, testing for SARS-CoV-1.
March 2004: Holmes Drops Out of Stanford and Starts Healthcare Company
In March 2004, Elizabeth Holmes dropped out of Stanford's School of Engineering and used her tuition money as seed funding for a consumer healthcare technology company.
December 2004: Holmes Raises $6 Million to Fund Real-Time Cures
By December 2004, Elizabeth Holmes had raised $6 million to fund Real-Time Cures, her company which would be renamed Theranos.
2009: Balwani joined Theranos as COO
In 2009, Sunny Balwani officially joined Theranos, receiving the title of chief operating officer.
2010: Theranos Secures $92 Million in Venture Capital
By the end of 2010, Theranos had raised more than $92 million in venture capital.
July 2011: George Shultz Joins Theranos Board of Directors
In July 2011, former secretary of state George Shultz joined the Theranos board of directors after being introduced to Holmes.
September 2013: Theranos Announces Partnership with Walgreens
In September 2013, Theranos announced a partnership with Walgreens to launch in-store blood sample collection centers, ending its period of operating in "stealth mode".
2014: Holmes Appears on Magazine Covers
In 2014, Elizabeth Holmes gained increased media attention, appearing on the covers of Fortune, Forbes, T: The New York Times Style Magazine, and Inc.
2014: Holmes Recognized as World's Youngest Self-Made Female Billionaire
In 2014, Forbes recognized Elizabeth Holmes as the world's youngest self-made female billionaire, and her name appeared on numerous U.S. and foreign patents.
June 2015: Partnership with Carlos Slim
In June 2015, Elizabeth Holmes partnered with Carlos Slim to improve blood testing in Mexico.
October 2015: #IronSisters initiative
In October 2015, Elizabeth Holmes announced the #IronSisters initiative to help women in STEM careers.
2015: Theranos Employs 800+ at Its Height
At its height in 2015, Theranos had more than 800 employees.
2015: Holmes Establishes Agreements for Theranos Technology
In 2015, Elizabeth Holmes established agreements with Cleveland Clinic, Capital Blue Cross, and AmeriHealth Caritas to use Theranos technology.
2015: Awards and Recognition in 2015
In 2015, Elizabeth Holmes was awarded the Horatio Alger Award, named Fortune's Businessperson of the Year, listed in Fortune's 40 Under 40, member of Bloomberg's 50 Most Influential, presented with a Glamour Award by Jared Leto, and named a Presidential Ambassador for Global Entrepreneurship by Barack Obama.
2015: Forbes Names Holmes Youngest Self-Made Billionaire
In 2015, Forbes named Elizabeth Holmes the youngest and wealthiest self-made female billionaire in the United States, valuing her company at $9 billion.
2015: Acclaim received in 2015
In 2015, before the collapse of Theranos, Elizabeth Holmes was appointed a member of the Harvard Medical School Board of Fellows and was named one of Time magazine's "Time 100 most influential people". Holmes received the Under 30 Doers Award from Forbes and was ranked number 73 in its 2015 list of "the world's most powerful women". She was also named Woman of the Year by Glamour and received an Honorary Doctor of Humane Letters from Pepperdine University.
July 2016: CMS Bans Holmes from Blood-Testing Services
In July 2016, CMS banned Elizabeth Holmes from owning, operating, or directing a blood-testing service for two years. Walgreens ended its relationship with Theranos, and the FDA ordered the company to cease use of its Nanotainer device.
October 2016: Theranos Dismisses 340 Employees
In October 2016, Theranos dismissed 340 employees.
2016: Balwani left Theranos
In 2016, Sunny Balwani left Theranos in the wake of investigations; the circumstances of his departure are unclear.
January 2017: Theranos Dismisses 155 Employees
In January 2017, Theranos dismissed an additional 155 employees.
April 2017: Theranos Settles Arizona Lawsuit
In April 2017, Theranos settled a lawsuit with the State of Arizona, agreeing to refund the cost of blood tests to consumers and pay civil fines and attorney fees.
May 16, 2017: Theranos Shareholders Reach Agreement
On May 16, 2017, approximately 99 percent of Theranos shareholders reached an agreement with the company to dismiss all litigation and potential litigation in exchange for shares of preferred stock.
March 14, 2018: Holmes Settles SEC Lawsuit
On March 14, 2018, Elizabeth Holmes settled the SEC lawsuit by surrendering voting control of Theranos, returning shares, accepting a ban from holding an officer position, and paying a fine.
March 2018: SEC Charges Holmes and Balwani with Fraud
In March 2018, the SEC charged Elizabeth Holmes and Ramesh Balwani with fraud for raising over $700 million from investors while advertising a false product.
April 2018: Theranos Announces Layoffs of 105 Employees
In April 2018, Theranos announced plans to lay off 105 employees, leaving it with fewer than two dozen employees.
June 15, 2018: Holmes and Balwani Indicted on Fraud Charges
On June 15, 2018, Elizabeth Holmes and Sunny Balwani were indicted on multiple counts of wire fraud and conspiracy to commit wire fraud. Holmes resigned as CEO of Theranos but remained chairwoman.
June 2018: Holmes Indicted on Fraud Charges
In June 2018, a federal grand jury indicted Elizabeth Holmes and Sunny Balwani on fraud charges related to Theranos.
August 2018: Theranos Lays Off Remaining Employees
In August 2018, most of the remaining Theranos employees were laid off.
September 5, 2018: Theranos Announces Dissolution
On September 5, 2018, Theranos announced that it had begun the process of formally dissolving and liquidating its remaining assets.
2018: SEC Charges Holmes with Fraud
In 2018, the SEC charged Elizabeth Holmes with raising $700 million from investors through fraud. She settled by paying a $500,000 fine and relinquishing control of Theranos.
August 31, 2021: Holmes's Trial Begins
On August 31, 2021, Elizabeth Holmes's trial began in the U.S. District Court for the Northern District of California, after delays due to the COVID-19 pandemic and her pregnancy.
January 3, 2022: Holmes Found Guilty of Defrauding Investors
On January 3, 2022, Elizabeth Holmes was found guilty on four counts of defrauding investors. A mistrial was declared on other counts, which were later dismissed.
January 2022: Holmes Convicted of Defrauding Investors
In January 2022, Elizabeth Holmes was convicted of defrauding investors in the case of U.S. v. Holmes, et al., but acquitted of defrauding patients.
May 30, 2023: Holmes Begins Prison Sentence
On May 30, 2023, Elizabeth Holmes began serving her 11+1⁄4-year sentence at Federal Prison Camp, Bryan.
