Forbes: Former richest self-made US woman now worth nothing

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New York (AP) – Forbes has revised the net worth of the woman it crowned America’s richest self-made woman last year from $4.5 billion to nothing. Forbes says its estimate of Elizabeth Holmes’ wealth is based entirely on her 50 percent stake in troubled blood-testing startup Theranos. The company acknowledged in April that it’s under investigation by several regulators and agencies following a series of reports by The Wall Street Journal in which former employees said the company’s tests were unreliable. The tests use only a few drops of blood. Theranos said the articles were inaccurate when they were published. Forbes says its previous estimate of her wealth came from a $9 billion valuation for the company in 2014. The 32-year-old Holmes started Palo Alto, California-based Theranos in 2003 and remains its CEO.

Elizabeth Holmes. (AP Photo/Jeff Chiu, File)
Elizabeth Holmes. (AP Photo/Jeff Chiu, File)