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The trial was scheduled to start in August 2020, but was delayed by Covid and then by Holmes’s pregnancy – she gave birth to a son, William, in July.
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Less than a month later the Wall Street Journal published the first in a series of articles that pulled back the curtain on Theranos, leading to criminal charges alleging that Holmes and the company were engaged in a multimillion-dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. ‘I was 19.’ ‘Don’t worry about the future,’ Clinton told the applauding audience. ‘Tell them how old you were.’ Holmes gave a shy, self-deprecating smile. ‘You founded this company 12 years ago, right?’ Clinton asked. It was the summit of an extraordinary rise that had seen Holmes, then 31 and a compelling mixture of the brilliant, the charismatic and the geeky, become, in the words of Forbes magazine, ‘the world’s youngest self-made woman billionaire’, with a personal wealth estimated at $4.5 billion. Theranos technology would give patients access to lab testing ‘which every person can afford’. Access to health information, she told the audience of policy-makers, thinkers, and the heads of corporations and foundations, was ‘a basic human right’. In her uniform of black turtleneck sweater, black jacket and black trousers, and radiating an aura of calm and self-assurance, Holmes took part in a conversation about the role of technology and entrepreneurialism in affecting global change. In September 2015, Elizabeth Holmes, founder of Theranos, a company that claimed to have developed a blood-testing process that would revolutionise medicine, appeared on stage as one of the keynote guests at the meeting of the Clinton Global Initiative in New York, alongside Bill Clinton and the Chinese investor and founder of Alibaba, Jack Ma. This piece was first published on August 21 but has been revised to take account of the trial verdict. Elizabeth Holmes, the female Steve Jobs whose 'medical miracle' fooled AmericaĬollege drop-out turned self-made billionaire invented a revolutionary blood test that never worked.