The tech boss who lost more than a billion

You're likely referring to Elizabeth Holmes, the former CEO of Theranos, a biotech company that claimed to have developed a revolutionary blood-testing technology.

In 2013, Holmes was valued at over $4 billion by Forbes, making her one of the youngest self-made billionaires in the world. However, her company's claims were later found to be largely exaggerated, and the technology was deemed to be inaccurate and unreliable.

In 2015, the Wall Street Journal published a series of articles that raised questions about the accuracy of Theranos' technology and the company's business practices. The articles led to a series of investigations and lawsuits, and in 2018, Holmes was charged with wire fraud and conspiracy to commit wire fraud.

In 2019, Holmes was found guilty of four counts of wire fraud and conspiracy to commit wire fraud, and was sentenced to 11 years and 3 months in prison. She was also ordered to pay a fine of $500,000 and to forfeit $804 million.

The collapse of Theranos and the subsequent legal proceedings have had a significant impact on the tech industry, highlighting the importance of rigorous testing and validation of new technologies, as well as the need for greater transparency and accountability in business practices.

It's worth noting that the exact amount of money lost due to Theranos' fraud is difficult to quantify, as the company's financial statements were not publicly disclosed. However, it's estimated that investors lost hundreds of millions of dollars, and that the company's collapse had a significant impact on the biotech industry as a whole.