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    holmes sentenced

    Disgraced Theranos CEO and former Houstonian Elizabeth Holmes sentenced to 11 years for fraud

    Steven Devadanam
    Nov 18, 2022 | 6:47 pm
    Elizabeth Holmes

    Former Houstonian Elizabeth Holmes has her day in court ion November 18.

    Photo by Justin Sullivan/Getty Images

    A former Houstonian who became the face of recent white-collar, Silicon Valley fraud case is facing more than a decade in prison.

    Elizabeth Holmes, founder of blood-testing startup Theranos, was sentenced to more than 11 years in prison on Friday, November 18 in San Jose, California. The sentencing comes her conviction in January for defrauding Theranos investors.

    “I suppose we step back and ask what is the pathology of fraud? Is it the refusal to accept responsibility or express contrition in any way?" Judge Edward Davila said during the ruling, according to Yahoo! Finance. "Perhaps that is the cautionary tale that will go forward from this case."

    Specifically, Holmes' sentence is 11 years and three months in prison, with another three years of supervision after release. Additionally, Holmes faces a fine of $400 million to be paid at a later date. Davila ordered Holmes, who is widely expected to appeal her sentence, to turn herself into custody on April 27, 2023.

    Once compared to disruptors and innovators Steve Jobs and Bill Gates, Holmes rose to fame by enticing investors with the promise that her Theranos could run hundreds of blood tests via a simple pin prick. Buzz for Theranos grew to the point that Theranos was valued at $9 billion, which made Holmes the world’s first self-made female billionaire.

    Yet, after securing more than $900 million in funding, Theranos was proven to be essentially bogus by the Wall Street Journal in 2015.

    Facing up to 20 years in prison, a tearful Holmes, who is pregnant, addressed the court. "I stand before you taking responsibility for Theranos," she said, per Yahoo. "I loved Theranos. It was my life’s work. My team meant the world to me. They wanted to make a difference in the world. I am devastated by my failings," she said. "Every day for the past years, I have felt deep pain for the people…those people who believe in us and those patients. I worked so hard to serve. I gave everything I had to try to to build...Theranos. Looking back, there are so many things I would do differently. I tried to realize my dream too quickly."

    Holmes is the subject of a Hulu documentary, The Dropout, which centers on her early life in Houston, where she grew up in Tanglewood and attended St. John's School. Her father's layoff from Enron is presented as clearly an inciting incident in her life. As The Dropout depicts, Holmes would meet boyfriend/partner Ramesh "Sunny" Balwani, drop out of Stanford, and launch Theranos.

    One of the most memorable lines in the miniseries comes when a young Holmes plainly states her goals at a family gathering. "I wanna be a billionaire," she said plainly — a memorable and clearly prophetic statement.

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    suburb news

    Bustling Houston suburb declared one of America's 10 newest boomtowns

    Amber Heckler
    Jun 4, 2026 | 9:00 am
    Conroe, Texas
    Photo courtesy of Visit Houston
    Conroe is a really desirable place to live for renters.

    What do you get when you combine a city's surge in population, housing growth, and economy? For a place like Conroe, it all adds up to being named America's No. 9 newest boomtown, according to a new survey from SmartAsset.

    The personal finance website's just-released report analyzed more than 400 U.S. cities with populations of 65,000 or more to identify places experiencing rapid growth based on five-year changes in economic output, housing units, and labor force size.

    Texas is home to the second-highest concentration of new boomtowns in America with 18 out of 75 located in the Lone Star State. Only Florida ranks higher than Texas by just one.

    However, Texas nearly locked out the top five most bustling boomtowns in America. Austin suburb Georgetown topped the list, and its Central Texas neighbors New Braunfels (No. 2) and Leander (No. 4) ranked close behind. Dallas-Fort Worth mid-city Lewisville claimed the No. 5 spot. Lehi, Utah ranked in third place.

    Conroe has soared in popularity as one of America's most sought-after suburbs over the last several years, boosted by its renter-friendliness and its livability among the millennial generation.

    Conroe has seen a 37 percent increase in housing units from 2019 to 2024, with its labor force growing by 33 percent during that time. SmartAsset also determined that Montgomery County's economic output grew at compound annual rates of 4.9 percent.

    The report says population booms and "expanding business activity" can create "visible momentum" for an up-and-coming city, but these fast changes can alter a city in ways residents may not expect.

    "In recent years, some American cities stand out for attracting people, investment and development at a pace that sets them apart," the report said. "Boomtown status does not mean growth benefits everyone equally, but it does reflect a city’s expanding economic capacity and the new opportunities that come with it."

    America's top 10 new boomtowns are:

    • No. 1 – Georgetown
    • No. 2 – New Braunfels
    • No. 3 – Lehi, Utah
    • No. 4 – Leander
    • No. 5 – Lewisville
    • No. 6 – Palm Coast, Florida
    • No. 7 – Nampa, Idaho
    • No. 8 – McKinney
    • No. 9 – Conroe
    • No. 10 – Frisco
    boomtownsmartassetreportsconroe
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