Elizabeth Holmes and her ex-boyfriend and Theranos business partner have to pay $452 million in restitution, including $125 million to Rupert Murdoch
Elizabeth Holmes and Sunny Balwani, her ex and former business partner, have been ordered to pay $452 million in restitution.
Payments include $125 million to Rupert Murdoch, his full investment in Theranos, and $40 million to Walgreens.
Separately, Holmes was ordered Wednesday to report to prison on May 30 to begin serving her time.
Elizabeth Holmes has been ordered to pay a hefty sum in restitution to victims of Theranos' fraud.
On Tuesday, she and Ramesh "Sunny" Balwani — the co-defendant in her case, as well as her ex-boyfriend and Theranos' one-time president and COO — were ordered to pay $452 million in restitution.
The biggest amount by far is earmarked for media mogul Rupert Murdoch, who will get back the full amount he poured into Theranos, $125 million. The RDV Corporation, which manages assets for the DeVos family, which includes Amway cofounder Richard DeVos and former US Secretary of Education Betsy DeVos, will get nearly $100 million.
Other investors include former Wells Fargo CEO Richard Kovacevich, who will get $4.1 million, and Lucas Venture Group, which is associated with prominent Silicon Valley venture capitalist Don Lucas and will receive more than $7.5 million.
The restitution also includes payments to Walgreens and Safeway, which had partnerships with Theranos. Walgreens will receive $40 million, and Safeway is due $14.5 million.
Besides the restitution, Holmes and Balwani will serve time in prison. Balwani began his nearly 13-year sentence in April, and on Wednesday, Holmes was ordered to report to prison on May 30.
Holmes has said before that she's struggling to pay her legal fees, let alone millions more in restitution. In a New York Times article earlier this month, Holmes said she "can't" pay her legal bills, adding, "I have to work for the rest of my life to try to pay for it."
In 2019, three attorneys from the law firm Cooley said they wanted off of her case because they said she hadn't paid them in over a year. They went on to say they don't expect she'd ever pay for their services given her "current financial situation."
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