Forbes: Obama’s Ambassador for Global Entrepreneurship Now Worth Zero Dollars

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Free Beacon:

Theranos founder Elizabeth Holmes, who in the past year was named one of President Obama’s Ambassadors for Global Entrepreneurship and was placed atop the Forbes list of America’s Richest Self-Made Women, has had her estimated net worth lowered from $4.5 billion to zero.

 

Forbes announced on Wednesday that it was removing Holmes from all of its wealth lists following news that Theranos’ blood testing technology, once considered revolutionary, was actually a failure. Theranos announced last month that it had to void blood test results for thousands of patients taken over the course of two years because its Edison device, touted for its ability to function with tiny blood samples, was producing inaccurate results.

 

“Last year, Elizabeth Holmes topped the FORBES list of America’s Richest Self-Made Women with a net worth of $4.5 billion,” wrote Matthew Herper, a senior editor for Forbes. “Today, FORBES is lowering our estimate of her net worth to nothing.”

 

A series of reports last year from the Wall Street Journal’s John Carreyrou exposed the failure of the Edison device late last year. Carreyrou found that Theranos executives such as Holmes took measures to hide shortcomings during federally mandated proficiency tests.