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Forbes lowers net worth of Theranos head Elizabeth Holmes from $4.5 billion to 0
Posted on 6/1/16 at 12:37 pm
Posted on 6/1/16 at 12:37 pm
LINK
quote:
Last year, Elizabeth Holmes topped the FORBES list of America’s Richest Self-Made Women with a net worth of $4.5 billion. Today, FORBES is lowering our estimate of her net worth to nothing. Theranos had no comment.
Our estimate of Holmes’ wealth is based entirely on her 50% stake in Theranos, the blood-testing company she founded in 2003 with plans of revolutionizing the diagnostic test market. Theranos shares are not traded on any stock market; private investors purchased stakes in 2014 at a price that implied a $9 billion valuation for the company.
Since then, 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’ annual revenues are less than $100 million, has led FORBES to come up with a new, lower estimate of Theranos’ value.
FORBES spoke to a dozen venture capitalists, analysts and industry experts and concluded that a more realistic value for Theranos is $800 million, rather than $9 billion. That gives the company credit for its intellectual property and the $724 million that it has raised, according to VC Experts, a venture capital research firm. It also represents a generous multiple of the company’s sales, which FORBES learned about from a person familiar with Theranos’ finances.
quote:
At such a low valuation, Holmes’ stake is essentially worth nothing. Theranos investors own preferred shares, which means they get paid back before Holmes, who owns common stock. According to VC Experts, investors in Theranos own a particular kind of preferred equity, called participating preferred shares, which take precedence to common stock in the event of a liquidation. FORBES is not aware of any plans to liquidate. If that were to happen, participating preferred investors would get their money back and more before Holmes gets a cent.
Such a shady company.
This post was edited on 6/1/16 at 12:42 pm
Posted on 6/1/16 at 12:40 pm to GetCocky11
IWHI. Would try to impregnate if she's still wealthy
Posted on 6/1/16 at 12:40 pm to Kafka
quote:
IWSHI
You sure about that?
She seemed kinda weird and crazy when this company was the hot topic. Now she is weird, crazy, and Forbes-certified worthless.
Posted on 6/1/16 at 12:40 pm to GetCocky11
quote:
more realistic value for Theranos is $800 million
OT poor
Posted on 6/1/16 at 12:41 pm to GetCocky11
Just look at that Hillarist.
Posted on 6/1/16 at 12:41 pm to GetCocky11
She's still worth more than me but I'll relish in the shadenfreude.
Posted on 6/1/16 at 12:41 pm to GetCocky11
This needs to happen to Mark Zuckerberg and stupid arse facebook
Posted on 6/1/16 at 12:41 pm to GetCocky11
quote:Are you deaf?
You sure about that?
I said IWHI, not IWMI
Posted on 6/1/16 at 12:42 pm to Kafka
quote:
Are you deaf?
Maybe, but that wouldn't matter on a message board
Posted on 6/1/16 at 12:42 pm to GetCocky11
I blame racial wealth inequality
Posted on 6/1/16 at 12:42 pm to GetCocky11
quote:
Today, FORBES is lowering our estimate of her net worth to nothing. Theranos had no comment.
, what would you expect them to say?
quote:
private investors purchased stakes in 2014 at a price that implied a $9 billion valuation for the company.
Yeah that is going to be sting.
Posted on 6/1/16 at 12:43 pm to GetCocky11
quote:
a more realistic value for Theranos is $800 million
HA, what a loser.
Posted on 6/1/16 at 12:43 pm to GetCocky11
quote:
FORBES is lowering our estimate of her net worth to nothing.
Still more wealthy than me. Im in debt
Posted on 6/1/16 at 12:43 pm to GetCocky11
Craziest crazy eyes I've ever seen.
This post was edited on 6/1/16 at 12:53 pm
Posted on 6/1/16 at 12:43 pm to northshorebamaman
quote:IWHI until I gave her the schadenfreudean slip
She's still worth more than me but I'll relish in the schadenfreude
Posted on 6/1/16 at 12:43 pm to DaTroof
quote:
This needs to happen to Mark Zuckerberg and stupid arse facebook
Considering your rant on the charade that is the diamond market it was a given that you hate Facebook too.
Posted on 6/1/16 at 12:45 pm to jrodLSUke
quote:
HA, what a loser
I don't think that is a net worth of the company or else they wouldn't lower her net worth to $0.
Posted on 6/1/16 at 12:50 pm to GetCocky11
quote:
quote:
IWSHI
You sure about that?
We've all fricked way worse. Let's not pretend otherwise.
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