FILE - In this Nov. 2, 2015, file photo, Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco. Forbes announced on June 1, 2016, that it has revised its estimate of Holmes net worth from $4.5 billion to nothing.
lessFILE - In this Nov. 2, 2015, file photo, Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco. Forbes announced on June 1, 2016, that it has revised its estimate of
... more
Founder & CEO of Theranos Elizabeth Holmes.
Founder & CEO of Theranos Elizabeth Holmes.
Photo: Gilbert Carrasquillo | Getty Images
SQUAWK BOX -- Elizabeth Holmes, Theranos CEO and the world's youngest self-made female billionaire, in an interview on September 29, 2015
SQUAWK BOX -- Elizabeth Holmes, Theranos CEO and the world's youngest self-made female billionaire, in an interview on September 29, 2015
Photo: Photo By: David Orrell/CNBC/NBCU Photo Bank Via Getty Images
Billionaire Elizabeth Holmes, founder and chief executive officer of Theranos Inc.
Billionaire Elizabeth Holmes, founder and chief executive officer of Theranos Inc.
Photo: Bloomberg | Getty Images
FILE � Elizabeth Holmes, the founder of the medical start-up Theranos, at the company�s lab in Newark, Calif., Dec. 4, 2015. Medical testing done by the closely watched start-up Theranos was plagued by quality control problems that could have led to inaccurate results for patients, according to an inspection report released by federal regulators on March 31, 2016. (Carlos Chavarria/The New York Times)
lessFILE � Elizabeth Holmes, the founder of the medical start-up Theranos, at the company�s lab in Newark, Calif., Dec. 4, 2015. Medical testing done by the closely watched start-up Theranos was plagued by
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6. Elizabeth Holmes
6. Elizabeth Holmes
Photo: Elizabeth Holmes | Twitter
Forbes: Former richest self-made US woman now worth nothing
NEW YORK (AP) — Forbes has revised the net worth of the woman it crowned America's richest self-made woman last year from $4.5 billion to nothing.
Forbes says its estimate of Elizabeth Holmes' wealth is based entirely on her 50 percent stake in troubled blood-testing startup Theranos. The company acknowledged in April that it's under investigation by several regulators and agencies following a series of reports by The Wall Street Journal in which former employees said the company's tests were unreliable. The tests use only a few drops of blood.
Theranos said the articles were inaccurate when they were published.
Forbes says its previous estimate of her wealth came from a $9 billion valuation for the company in 2014.
The 32-year-old Holmes started Palo Alto, California-based Theranos in 2003 and remains its CEO.
http://www.timesunion.com/news/article/Forbes-Former-richest-self-made-US-woman-now-7957030.php
