Forbes downgrades Theranos from $9B to $800M, says CEO Holmes worth “nothing”

Theranos CEO and founder Elizabeth Holmes. (credit: Max Morse for TechCrunch)

With bunk blood tests and medical equipment, possible federal sanctions, a criminal probe, voided patient reports, and possible class action lawsuits, Theranos has taken quite the hit.

On Wednesday, Forbes put dollar values to that hit. The business magazine reported that the company’s valuation—based on “a dozen venture capitalists, analysts and industry experts”—has been downgraded from its $9 billion estimate 2014 to just $800 million now. And because Forbes’ valuation of Theranos CEO and founder, Elizabeth Holmes, was based solely on her 50 percent stake in the company, their estimate of her net worth dropped from $4.5 billion to “nothing.”

In 2015, Forbes ranked Holmes the number one self-made women in America.

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