Elizabeth Holmes is an American entrepreneur and the CEO of biotech company Theranos. She has an estimated net worth of $4.6 Billion.
Holmes founded Theranos in 2003 at the young age of 19 while studying chemical engineering at Stanford. She used money that her parents had saved for her education to establish her company, then named ‘Real-Time Cures’. Later, she came up with the name Theranos as an amalgamation of ‘therapy’ and ‘diagnosis’.
At first, Holmes worked out of a basement in a group college house. She later dropped out to pursue her business full time.
Theranos’ main product is an innovative blood testing process that allows for a cheap, fast process to run 30 common lab tests using microfluidics. By 2014, Theranos offered over 200 types of tests and was licensed to operate in every single state in the US. Theranos today is valued at over $10 Billion, and has set up partnerships with major chains such as Walgreens to offer blood tests directly to consumers at a significantly reduced price.
Holmes is the youngest female self made billionaire and holds 18 US patents as well as 66 non US patents. She has been described by US Secratary of state as a “tech visionary… striking, somewhat ethereal, [and] iron-willed” who “combines fierce and single-minded dedication with great charm…” and is “dedicated to transforming health care around the world”.