Former Theranos CEO Elizabeth Holmes’ Extravagant Lifestyle Disputed Subject of Fraud Trial

The Inventor: Out for Blood in Silicon Valley ⭐️⭐️⭐️½

Have you heard that characteristic, monotone voice of defunct company Theranos CEO Elizabeth Holmes? She is scheduled to go on trial for fraud in July 2021. You can watch Alex Gibney’s documentary on Holmes and her business partner Sunny Balwani on HBO Max.

“Although Defendant’s assistant was an employee of the company, she handled a range of non-business tasks for Defendant, including personal clothes and jewelry shopping, home decorating, food and grocery buying, and other items,” the government said in a filing. The government’s motion was a response to efforts by Holmes’ attorneys to block the jury from hearing details about her jet-setting lifestyle.

Prosecutors allege Theranos fraud fueled Elizabeth Holmes’ lifestyle

Holmes legal defense team wants to keep out the stories about her lavish lifestyle because they feel it will bias the jury in her trial. The documentary focuses on Holmes passion to do something impossible. Her idol was Steve Jobs but Holmes doesn’t have the technology to match the marketing drive. Jobs knew another Steve, his last name was Wozniak, and he could make things that actually worked.

Theranos didn’t have a completely functional product with their Edison nano blood testing tech and investors believed they did, pumping hundreds of millions into a concept. Whether or not this is fraud will sit at the center of this upcoming summer trial.

What’s fascinating is this documentary never shows Holmes spending excessively. She dresses like Steve Jobs, all in black and isn’t shown having assistants running around buying things for her. She appears in the documentary as being consumed with her work and she doesn’t even even have much in her fridge in one scene. This is in stark contrast to what the prosecution is alleging with her spending.