$4.5 billion is, by all accounts, a shit ton of money. You could buy billions of used, horrifically scratched Rob Schneider DVDs. You could cop all the Yeezy Season 2 footwear pieces. You could probably even buy yourself a country or two. These are all noble ways of spending unholy amounts of money. But what about Theranos founder Elizabeth Holmes, who Forbes estimated had a net worth of $4.5 billion just last year and is now reportedly worth nothing?
Holmes, who founded the blood-testing startup Theranos in 2003, topped Forbes' list of "America's Richest Self-Made Women" in 2015 with an estimated net worth of $4.5 billion. Forbes, announcing their revision of Holmes' worth Wednesday, revealed their estimates were based purely on her 50 percent stake in the startup. But how though?
Last year's $4.5 billion net worth estimate stemmed from a $9 billion valuation of the company in 2014, a company that CBS MoneyWatchreported is now facing a lawsuit alleging consumer fraud and false advertising. According to the complaint, Theranos' tests—which allow blood to be tested with just a pinprick—were inaccurate:
Theranos deemed the suit "without merit," adding that the company would "vigorously defend" itself against such claims. Forbes, speaking to experts in light of their fresh $0.00 estimate, have now concluded that a more realistic value of Theranos is about $800 million, i.e. not $9 billion. After intellectual property and sales are accounted for, that brings Holmes' stake to roughly, um, nothing.
Theranos, who did not immediately respond to Complex's request for comment, issued a statement to TIME Wednesday saying the new estimate was "skewed" due to a lack of data:
Meanwhile, back in reality, more than 46 million Americans currently live in poverty.
