Just a year ago, Elizabeth Holmes was one of the most buzzed-about self-made female billionaires in the country. The founder of the blood testing medical startup Theranos, Holmes was often lauded for her Steve Jobs-like trajectory of dropping out of college to launch a tech startup that quickly saw her valued at $4.5 billion.
But today, her net worth is now estimated at $0.
Following months of turbulence at Theranos, which is under intense regulatory scrutiny by the federal government, Forbes downgraded Holmes’ net worth to zero on Wednesday, a stunning fall for the 32-year-old entrepreneur who had landed on magazine covers just months earlier. The New York Times pointed out that the valuation is merely a guess by Forbes, which dropped its valuation of Theranos from $9 billion to about $800 million, much of which is tied up with investors, according to the Times. Holmes still owns at least half of the company, and outside estimates are merely guesses since the company has been very private about its data.
“As a privately held company, we declined to share confidential information with Forbes,” Brooke Buchanan, a company spokeswoman, said in a statement to the Times. “As a result, the article was based exclusively on speculation and press reports.”