It’s a great time for those who have followed the rise and fall of Theranos, a now discredited blood testing startup founded by Elizabeth Holmes.
Opening arguments are set to begin in the criminal fraud trial of Ramesh “Sunny” Balwani, the former sweetheart of Holmes and the former president and chief operating officer of Theranos. Balwani recently sold a Silicon Valley mansion that he and Holmes had lived together for five years.
Also, the limited series “The Dropout,” which tells the story of the Flameout Theranos, is broadcast on Hulu, starring Deep Voice. Amanda like Holmes.
The hype around Theranos was once again strong, and this got us curious about the real estate surrounding its masterminds. Where did Holmes and Balwany rock while hiding their romance from the world? What is the current living situation for Holmes as she awaits sentencing for four fraud sentences?
Everything fell into the San Francisco Bay Area, so let’s head west and take a look at the places the most famous of Theranos call home.
Atherton, California, The Palace
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In 2014, Theranos’ valuation rose to $9 billion, and on paper, Holmes’ net worth rose to $4.5 billion. But a year before she became (briefly) the world’s youngest self-made billionaire, she invested in luxury real estate seriously with Balwani.
The secretive couple paid $9 million to buy a French pillow in Atherton, a very affluent area of Silicon Valley. They made the purchase through HMFR LLC. At the time, Holmes was CEO of Theranos while Balwani was president and chief operating officer.
The five-bedroom, 5.5-bathroom mansion was built in 1936 and has great privacy thanks to the walled entrance and tall trees throughout the property. Reminiscent of a European country house, the 6,800-square-foot main house sits on a 1.16-acre plot filled with gardens, a pool, and suite.
Realtor.com
Realtor.com
Realtor.com
Things began to go downhill for Theranos in 2015 when the US Food and Drug Administration began investigating the company and the Wall Street Journal published a series exposing the shortcomings of the company’s blood-testing technology. The following year, Balwani left Theranos and the company closed its medical laboratory operations.
In 2018, Holmes and Balwany plunged into a world of legal trouble: the Securities and Exchange Commission filed civil securities fraud charges, and the Justice Department indicted Holmes and Balwany on criminal fraud charges. In the same year, Balwani bought Holmes’ 50% stake in HMFR LLC for $7.9 million and became the sole owner of Atherton Palace. It is unknown if he resided there from this point on.
Al Balwani sold the house for $15.8 million in January 2022. He is currently on trial on fraud charges related to deceiving Theranos clients and investors.
More broker:
San Francisco apartment
Rentsvnau
At one point in the past five years, Holmes has downsized her suburban mansion into a more modest San Francisco apartment. In 2017, she met her current partner and hotel heir William “Billy” Evans. At one point in their relationship, Holmes and Evans lived in the Lombard Place apartment in the Russian Hill neighborhood.
It is not known when they rented the apartment, but they left around April 2019, according to CNBC.
Rentsvnau
Rentsvnau
The two-bedroom, two-bathroom apartment is a step too far from the mansion that Holmes jointly owned, but by normal standards it appears to be well appointed. A kitchen the size of a shoebox may be a turning point, but the real selling point is the gorgeous views of the Golden Gate Bridge and San Francisco Bay.
We can’t say for sure how much Holmes and Evans paid to rent this place, but it was previously available for $5,395 a month.
Woodside, California, real estate
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Holmes’ trial began in September 2021, and on January 3, 2022, she was convicted of one count of conspiracy to defraud investors and three counts of electronic fraud. During the trial, Holmes and Evans were living together on the $135 million Green Gables estate in Woodside, California.
We may never know how Holmes managed to find herself hiding in yet another lavish living situation. But the location of the couple’s historic home was made public after Evans received a traffic light in March 2021 for not displaying a license plate, according to San Mateo County court records.
Green Gables, also known as Fleishhacker Estate, was built in 1911 by Mortimer FlyshakerHe is a businessman from San Francisco. The 74-acre property contains seven residences: a 10,000-square-foot main house and six additional homes that are more modest in size. Holmes and Evans were reportedly staying in one of these more modest homes.
Realtor.com
Realtor.com
The Fleishhacker family held the Green Gables for 110 years, but decided to sell it several years ago. They initially listed it without a price, but did not receive a helpful offer. The property returned to the market in February 2021 for $135 million. The list expired in early March.
Holmes is due to be sentenced in September, and she faces up to 20 years in prison. So if she’s still living in the Green Gables, you better be enjoying her for as long as she can.
The post Real Estate of the Theranos Scandal: Here is where Elizabeth Holmes Calls Home first appeared on Real Estate News & Insights | realtor.com®.
