OUCH

Forbes: Theranos Founder Now Worth $0

Downgraded from $4.5B estimated fortune.

One year after Elizabeth Holmes topped Forbes’s list of “America’s Richest Self-Made Women,” with a $4.5 billion net worth, the financial magazine downgraded her estimated worth to $0. As Forbes explained: “Our estimate of Holmes’s wealth is based entirely on her 50 percent stake in Theranos, the blood-testing company she founded in 2003 with plans of revolutionizing the diagnostic test market... Theranos has been hit with allegations that its tests are inaccurate and is being investigated by an alphabet soup of federal agencies. That, plus new information indicating Theranos’s annual revenue is less than $100 million, has led Forbes to come up with a new, lower estimate of [its] value.”