Where is Elizabeth Holmes now and will she go to prison?

  • We earn a commission for products purchased through some links in this article.
  • With audiences tuning into new series The DropOut – many people are wondering where is Elizabeth Holmes now and will she go to prison?

    Elizabeth Holmes is the former CEO of Theranos, a blood testing company which claimed to detect diseases, including cancer, with just a few drops of blood. The company claimed to allow people to self-administer faster, inexpensive and less-intrusive blood tests. However these claims were questioned in 2015, when the Wall Street Journal revealed that Theranos’ testing had huge inaccuracies. They discovered that the company was actually performing tests using traditional blood testing methods and outsourcing laboratory work. 

    Similar to the Anna Delvey and Bad Vegan Sarma MeIngailis Netflix series, audiences are now learning of Elizabeth Holmes’ story through several biopics. Currently via the Hulu and Disney+ miniseries The Dropout featuring Amanda Seyfried as Elizabeth. Plus a new film set to hit screens soon, directed by Don’t Look Up’s Adam McKay and starring Jennifer Lawrence. 

    Where is Elizabeth Holmes now?

    Elizabeth Holmes is currently residing in a nine-bedroom $135M California estate with her husband, William ‘Billy’ Evans, their baby son and two dogs. She is thought to have been holed up in the Green Gables Estate in Woodside since at least last March.

    The 74-acre spread within the Silicon Valley town includes seven individual houses. It also boasts a Roman-themed swimming pool plus three further swimming pools, a tennis court and a private orchard. The average house in the estate costs $5million.

    a medium shot of Elizabeth Holmes and her lawyer

    Credit: Getty

    Holmes’ neighbours include actress Michelle Pfeiffer, singer Neil Young and Larry Ellison – co-founder of tech company Oracle – who owns a $200million estate in the area. Ellison was also an investor for Theranos, who lost out on a huge sum of money.

    Elizabeth was seen on a family walk in the estate in January 2022, just three days after she was found guilty of fraud.

    What was the outcome of Elizabeth Holmes’ trial?

    On 4 January 2022, Elizabeth Holmes was convicted on four counts of defrauding investors after an almost four month-long landmark trial in California. Holmes faced 11 charges in total and was found not guilty of four charges relating to defrauding the public. The jury failed to reach a verdict on a further three charges after deliberating for seven days.

    Holmes was originally charged alongside the company’s former president, Ramesh Balwani (who she alleges abused her) in 2018. This is the same year Theranos was dissolved.

    During the trial – which started in September 2021 – multiple lab directors testified to telling Holmes about the flaws in Theranos’ technology. But they claim they were instructed to downplay their concerns. They also added that Holmes told investors the technology was operating as planned.

    The prosecution called 30 witnesses in a bid to prove that Holmes knew the product she was selling to investors was a sham.

    Prosecutor Jeff Schenk said in his closing argument that Holmes, “Chose fraud over business failure. She chose to be dishonest with investors and patients. That choice was not only callous, it was criminal.” 

    Holmes was found guilty of conspiracy to commit fraud against investors and three charges of wire fraud by jurors.

    Will Elizabeth Holmes go to prison?

    Elizabeth Holmes will be sentenced on 26 September 2022. She faces a maximum prison sentence of 20 years – based on what judges typically sentence defendants to in similar cases. However, legal experts believe she will likely be handed a far less severe punishment. Holmes denies her convictions and is expected to appeal.

    Elizabeth also faces a fine of up to $250,000, plus restitution for each count. Her sentencing has been pushed back to allow for the trial of Rimesh Balwani, whose trial for related fraud charges began in March. 

    Holmes will remain free for the eight months leading up to her sentencing hearing on a $500,000 bond, which is secured by property.

    Amanda Kramer, a former federal prosecutor who now practices as a white-collar defense lawyer, said of Holmes’ upcoming sentencing, “I would be utterly shocked if she wasn’t sentenced to some term of imprisonment.”

    She added how the judge will consider the investors’ loss amount, her character and background, her efforts at rehabilitating and how the punishment could deter others from engaging in similar fraud.

    Legal experts are also saying that the fact that the jury acquitted her and failed to reach a verdict on several counts could work against her decision to appeal, if she goes down that route. This is because it will weaken arguments that they were confused or biased.

    Who is Elizabeth Holmes’ husband and what does he do for a living?

    Elizabeth Holmes is married to William ‘Billy’ Evans, a 29-year-old heir to the Evans Hotel Group in California. They got engaged in early 2019 and are thought to have married in a private ceremony later that year, but this has never been confirmed. The couple welcomed a baby boy in July 2021.

    Billy, who met Elizabeth at a party in 2017, is thought to have grown up near San Diego, California. He’s one of three children born to his parents, Susan and William L. Evans. He attended the Massachusetts Institute of Technology, where he graduated in 2015 with a bachelors degree in economics.

    The Evans family has lived in the San Diego area for generations. Billy Evans’ grandparents, Anne and William D. Evans founded a hotel management group in 1953 called Evans Hotels. The group manages several resorts in the area, including the Catamaran Resort Hotel and Spa, The Lodge at Torrey Pines, and the Bahia Resort Hotel.

    Billy is a direct heir to the Evans hotel chain. His career over the years has included positions at several financial and consulting companies.

    How much was Theranos worth?

    Elizabeth Holmes founded Theranos in 2003 at the age of 19 and managed to raise $945 million from investors. At one point the company was valued at $9 billion (£6.5 million). Holmes was even dubbed “The world’s youngest self-made female billionaire” by Forbes magazine.

    Investors included billionaires such as Rupert Murdoch. Plus the Walton family of Walmart fame, who also lost out on huge sums of money. On its board of directors sat two ex-Secretary of States, Henry Kissinger and George Schultz. This is in addition to former director of the Centers for Disease Control and Prevention, William Foege.

    The Securities and Exchange Commission charged Holmes with “massive fraud” in 2018. She was accused of taking more than $700 million from investors. The same year, she was arrested on criminal charges of wire fraud and conspiracy to commit wire fraud.

    Where to watch The Dropout:

    You can learn more of Elizabeth Holmes’ story and the start and end of her company Theranos in new drama The Dropout on Disney+ in the UK and Hulu in the US. There are 8 episodes in total, with a new episode released each week on the streaming platform.

    The show is based on the popular The Dropout podcast hosted by Rebecca Jarvis for ABC News. The audio series has 28 episodes for listeners to enjoy, including new 2022 follow-up episodes that cover Elizabeth’s trial.

    Amanda Seyfriend stars as Elizabeth in the TV adaptation. And it seems the Mamma Mia actress enjoyed the challenged of playing a real-life character:

    “Being able to absorb the footage and mimic somebody and try to embody somebody that actually… there’s a template out there, is very exciting,” she told Good Morning America. “I hate to say that because it’s a real person with real consequences and a real life – and I wish her well – I just, as an actor, very specifically, it was thrilling.”

    The 36-year-old has received critical praise for her role as Holmes. And viewers have been particularly captivated by how she recreated Elizabeth’s famous deep voice.

    Amanda told ELLE magazine that she practised solidly “until it became muscle memory”.

    “And then, when I got the accent, when the accent started to feel comfortable, we would work on the depth a little bit, but the depth would be in the moment,” she added. “It wasn’t like I trained my voice to go lower. I just know how low I can go. And with projection, with the accent, and with deepening it and breathing a certain way, it all coincides on a good day.”

    Amanda added that it was the “Elizabeth 2.0 look” rather than the voice that wowed the cast and crew the most. Reinvented in Holmes uniform of a black turtleneck, red lip, and hair pulled back, she said: “That was the thing that turned heads.”

    Video of the Week: