Learn about the current activities of Elizabeth Holmes’ parents and their contributions to Theranos’ ascent and failure. Find more about Noel Daoust’s and Christian Holmes’ lives after Theranos.
Elizabeth Holmes was born to wealthy parents with solid corporate and political backgrounds and all the makings of a great businesswoman.
By the age of 19, she appeared to be on track for a successful career as the youngest female millionaire in the world. Her success, though, was fleeting.
After 15 years of running her biotech enterprise Theranos Inc., she was accused of fraud for misrepresenting the company’s blood-testing technology to customers, clients, and patients.
Elizabeth Holmes ultimately entered a not guilty plea, but her dramatic demise as a once-promising businesswoman serves as a lesson in the dangers of corporate greed and deceit.
The name Elizabeth Holmes was well-known throughout Silicon Valley. She stood out among a sea of IT titans thanks to her youth and creative ideas.
She vowed to transform the healthcare sector with her company’s ground-breaking blood testing technology when she launched Theranos in 2003.
By 2014, her business was worth $9 billion, making her the youngest self-made female billionaire in history.
But when it became clear that the technology was flawed and that Holmes had been covering it up for a long time, everything came tumbling down.
The firm’s laboratories and testing facilities were closed, and Holmes was accused of serious fraud. This is the story of a young woman who had a brilliant idea but ultimately failed to carry it out.
Christian Holmes, the father of Elizabeth Holmes, was raised in a wealthy family in San Francisco, surrounded by the city’s business and modelling communities.
He committed himself to public service as a young adult, working for agencies including the State Department and the US Agency for International Development.
It’s not surprising that Elizabeth, his daughter, had intended to follow in his footsteps and work in disaster relief.
She thought about going into business, but ultimately decided against it because of her ambition and desire to have a big influence.
Christian clearly cared about setting an example for his daughter, and it’s obvious that his influence had a big impact on Elizabeth’s decision to follow her own path.
Christian has worked in a variety of businesses during the course of his career, including the energy industry. Both Tenneco and Enron employed him as a vice president, but the scandal that rocked the latter will unavoidably cloud his tenure there.
Christian, however, refused to allow this setback ruin his plans. He resorted to his contacts for assistance, and fortunately he found support in Fuisz, who gave him permission to remain at their Virginia home without paying rent.
Christian eventually went back to working for the government, developing his abilities as a global water coordinator for the EPA, USTDA, and USAID. He is currently a senior advisor with The Boston Consulting Group, applying his knowledge to yet another industry.
Theranos’ journey from a concept in Elizabeth Holmes’ head to a corporation valued at billions of dollars in just a few years was nothing short of spectacular.
So what caused this achievement? A portion of it may undoubtedly be ascribed to Elizabeth’s parents’ financial support, who contributed large quantities of their own money after their daughter persuaded them to embrace her vision.
Additionally, the young businesswoman’s links to Christian Holmes opened doors for her, putting her in touch with well-known venture investors who would later make sizeable investments in her company.
Theranos’ early success was probably influenced by all of these variables.
Elizabeth Holmes’ mother, Noel Anne Daoust, has led a less prominent life than her husband, Christian Holmes. She did, however, work for the government, supporting Rep. Charlie Wilson on foreign policy.
Noel made the decision to leave her career to stay home with her children after the birth of Elizabeth and her brother Christian. When Theranos was still thriving in 2014, Noel talked about her daughter’s tenacity.
She recalled a moment when Elizabeth, who was still residing at home, made the decision to draught a patent application for the first time. Noel saw how dedicated her daughter was as she worked on the computer for five to six days straight, sleeping only a few hours a night.
Later, Noel supported her daughter and urged her to pursue her desire to make a difference in the world when she made the decision to drop out of school and start her own business.
Richard Fuisz claims that Noel actively influenced her daughter Elizabeth’s growth, encouraging Elizabeth to be an inventor and linguist like Fuisz.
Tyler Schultz, one of the first Theranos whistleblowers, recalls Elizabeth’s relationship with her parents differently.
In his memoir, Schultz recalled planning Elizabeth’s 30th birthday celebration, which took place while her parents were away. This shows that Elizabeth and her parents might not have been close.