• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026
LifestyleElizabeth Holmes

Elizabeth Holmes just lost her chance to stay out of prison while she appeals her fraud conviction

By
Michael Liedtke
Michael Liedtke
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Michael Liedtke
Michael Liedtke
and
The Associated Press
The Associated Press
Down Arrow Button Icon
April 11, 2023, 2:32 PM ET
Former Theranos CEO Elizabeth Holmes leaves federal court in San Jose, Calif., March 17, 2023.
Former Theranos CEO Elizabeth Holmes leaves federal court in San Jose, Calif., March 17, 2023.AP Photo/Jeff Chiu
Add Fortune on Google for similar content.

Disgraced Theranos CEO Elizabeth Holmes has been rebuffed in her attempt to stay out of federal prison while she appeals her conviction for the fraud she committed while overseeing a blood-testing scam that exposed Silicon Valley’s dark side.

In an 11-page ruling issued late Monday, U.S. District Judge Edward Davila concluded there wasn’t compelling enough evidence to allow Holmes to remain free on bail while her lawyers try to persuade an appeals court that alleged misconduct during her four-month trial led to an unjust verdict.

The judge’s decision means Holmes, 39, will have to surrender to authorities April 27 to start the more than 11-year prison sentence that Davila imposed in November. The punishment came 10 months after a jury found her guilty on four counts of fraud and conspiracy against the Thearanos investors who believed in her promises to revolutionize the health care industry.

Holmes had accompanied her lawyers to a San Jose, California, courtroom on March 17 to try to convince Davila that various missteps by federal prosecutors, and the omission of key evidence, will culminate in the Ninth Circuit Court of Appeals exonerating her.

Holmes’ prison sentence is scheduled to start roughly 20 years after she dropped out of Stanford University when she was 19 years old to start Theranos in Palo Alto, California — the same city where William Hewlett and David Packard founded a company bearing their surnames in a small garage and planted the seeds of what grew into Silicon Valley.

Holmes could still file another appeal of Davila’s latest ruling, a maneuver her co-conspirator at Theranos — Ramesh “Sunny” Balwani — successfully used to delay his scheduled March 16 date to begin a nearly 13-year prison sentence. But the Ninth Circuit Court of Appeals last week rejected that appeal, and Balwani is now scheduled to report to a Southern California prison on April 20.

Davila has recommended Holmes serve her sentence in a Bryan, Texas, prison. It hasn’t yet been publicly confirmed if that will be the facility where she reports.

Unless she can find a way to stay free, Holmes will be separated from the two children she had leading up to the trial and after her conviction.

Her first child, a boy, was born shortly before her trial began in September 2021. The youngest child, whose gender hasn’t been disclosed in court documents, was born at some point after her November sentencing. She conceived both with her current partner, William “Billy” Evans, whom she met after breaking up with Balwani in the midst of Theranos’ downfall.

The denial of Holmes’ request to remain free is the latest twist in a long-running saga that has already been the subject of an acclaimed HBO documentary and an award-winning Hulu TV series.

Although they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos’ blood-testing system as a breakthrough in health care. The claims helped the company become a Silicon Valley sensation that raised nearly $1 billion from investors and at one point anointed Holmes with a $4.5 billion fortune, based on her 50% stake in Theranos.

Holmes also parlayed the buzz surrounding Theranos to speaking engagements on the same stage as former President Bill Clinton and glowing cover stories in business publications that likened her to tech visionaries such as Apple co-founder Steve Jobs.

But Theranos’ technology never came close to working like Holmes and Balwani boasted, resulting in the company’s scandalous collapse and a criminal case that shined a bright light on Silicon Valley greed and hubris.

About the Authors
By Michael Liedtke
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Lifestyle

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Lifestyle

paramount
CommentaryAntitrust
How Paramount’s theater commitments could boost local economies across the nation
By Ike BrannonJuly 2, 2026
6 hours ago
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
SuccessCareers
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
By Orianna Rosa RoyleJuly 2, 2026
9 hours ago
The 6 Best Exercise Bikes of 2026: Fitness Expert Reviewed
HealthDietary Supplements
The 6 Best Exercise Bikes of 2026: Fitness Expert Reviewed
By Christina SnyderJuly 1, 2026
19 hours ago
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
PoliticsDonald Trump
Melania Trump NFT earnings surge 28x in 2025 as the First Lady rakes in nearly $17 million in total earnings, filing shows
By Mia OsmonbekovJuly 1, 2026
22 hours ago
Donald Trump sits at his desk in the Oval Office, smiling and with his hands folded in front of him.
PoliticsDonald Trump
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
24 hours ago
kean
PoliticsCongress
Tom Kean discloses depression diagnosis behind 4-month absence from Congress: ‘until you experience it yourself, it is difficult to fully understand’
By Mike Catalini, Joey Cappelletti and The Associated PressJune 30, 2026
2 days ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 day ago
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
Politics
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
24 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
Success
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.