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Elizabeth Holmes:  The Dropout Self-made Billionaires

 
This is the youtube link, please watch
 
https://www.youtube.com/watch?v=EToDw9fhlbo

 
Today, she is worth less than 0.1 Billlion
This post is about Casualty Rate of Self-made Billionaires

Each year, about 7% of self-made billionaires dropout of the list
(during boom times, there are fewer dropouts, during bust time the number of dropouts increase) 

I will use Elizabeth Holmes as an example, because she is a high profile case. 

In 2015, Elizabeth Holmes was worth an estimated
 $4.5Billion

Elizabeth Holmes was born in Washington DC in 1984.  Her grandfather  Christian R Holmes was a medical inventor.

She was a prodigee in high school, having mastered Chinese, C++ and won a President Scholar and began her study at Chemical Engineer at Stanford University

Her most famous invention, the one drop blood test

Her Board of Director included 2 former secretary of states: Henry Kissinger and George Schultz

Unfortunately, the one drop blood test does not work. 

The failed blood tests were discovered by John Carreyrou

Here is a picture of John Carreyrou

 
 John Carreyrou is TWICE Pulitzer Prize Winners

 
 from the Wall Street Journal