Inside Elizabeth Holmes' Wildly Lavish Life Before Prison
On May 30, 2023, former Theranos owner Elizabeth Holmes turned herself into a Texas prison facility. After misleading investors out of hundreds of millions of dollars with the Theranos scheme alongside her ex-boyfriend Sunny Balwani, Holmes was sentenced to 11 years behind bars. "We can confirm Elizabeth Holmes has arrived at the Federal Prison Camp (FPC) Bryan in Bryan, Texas, and is in the custody of the Federal Bureau of Prisons," a prison spokesperson shared in a statement to CNN.
While Holmes is serving her prison sentence alongside Jen Shah in a minimum security facility, her life isn't easy by any means, especially compared to what she was used to before. As reported by Fox Business, the disgraced businesswoman now has to share a small room with three inmates, who each get a bunk bed and a locker for storage. Former prisoner Lynn Espejo shared that newcomers are usually tasked to work in the kitchen for three months, which means a 4:30am start time. "I wouldn't say it's the hellhole of the [Bureau of Prisons]. But it's close," Espejo told the outlet. Holmes' new reality is a huge departure from her old life. Prior to her sentencing, she was worth $4.5 billion — and it was reflected by her immensely lavish lifestyle.
Elizabeth Holmes spared no expense when it came to her lifestyle
With a six-figure income from Theranos and a 50% stake in the now-defunct company, Elizabeth Holmes could afford a lifestyle many can only dream of. As reported by Vanity Fair, she booked a first-class flight to pick up a Siberian Husky puppy that she had purchased, which she named Balto. Holmes let the dog run rampant at the company's offices and labs, which cost $1 million a month in rental fees and included a conference table worth $100,000. As for her personal staff, the disgraced businesswoman had at least one assistant with her at all times and traveled with two bodyguards and drivers. Holmes also had a publicist on hand for $25,000 a month.
Not all of Holmes' expenses came out of her own pocket. While at Theranos, she traveled on private jets and dined at lavish restaurants on the company's dime, per CNBC. Although her wild spending habits were highlighted during the trial, Holmes made no qualms about keeping up her lifestyle even as her net worth plummeted.
Elizabeth Holmes rented a multi-million dollar house during her trial
Elizabeth Holmes didn't let her fraud trial prevent her from living her best life. During the trial, which began in August 2021, it was revealed that Holmes and her partner William Evans were residing in a home in a Green Gables estate that was worth $135 million. The 74-acre property is in one of the poshest zip codes of Silicon Valley, with amenities including four swimming pools and a tennis court. It was confirmed that Holmes and Evans rented out one of the seven super expensive houses in which to ride out the trial. That wasn't the only lavish home they stayed in — the pair also rented an apartment in San Francisco for $5,000 a month.
As the trial unfolded, prosecutors discovered that Holmes' Green Gables house cost $13,000 a month for upkeep, Business Insider reported. They stated in the official documents that the former Stanford University student continued to lack any sense of remorse for those she'd harmed. While specific details of her spending habits weren't uncovered for the trial, Holmes' luxurious lifestyle was an important topic for the prosecutors.
Elizabeth Holmes' lavish lifestyle was pointed out during her trial
Elizabeth Holmes requested that the courts not include details of her luxe life in case it may sway the jurors, but Judge Edward Davila disagreed. "The Government may introduce evidence that Holmes enjoyed a lifestyle as Theranos CEO that is comparable to those of other tech company CEOs. This includes salary, travel, celebrity, and other perks and benefits commensurate with the position," he said in a statement (via CNBC).
Davila added that the prosecutors may not disclose anything specific, such as the brands of clothing Holmes wore or which hotels she stayed in during her time as CEO of Theranos. It was known that she flew by private planes and had assistants on hand to purchase many items for her. "Each time Holmes made an extravagant purchase, it is reasonable to infer that she knew her fraudulent activity allowed her to pay for those items. While the benefits of these purchases are not as directly tied to the fraud ... it may still be probative of Holmes' scienter," Davila added.
Holmes enjoyed her life of luxury right until she had to report to prison. The Daily Mail caught her with Billy Evans and their two young children near their $9 million San Diego home. The family of four enjoyed an hour at the beach before heading back to their house. The following day, Holmes began her 11-year sentence at the prison in Bryan, Texas.