You can be on Entrepreneur’s cover!

Elizabeth Holmes Is Jailhouse Bound. Disgraced Theranos Founder Begins Prison Sentence The former Theranos CEO is set to serve 11 years in prison after she was convicted on multiple charges of defrauding investors.

By Sam Silverman

Key Takeaways

  • Elizabeth Holmes reported to prison on May 30 to serve her 11-year sentence.
  • Her sentenced was shortened by two years as of July 2023.
  • She is now expected to be released on December 29, 2032.
entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Philip Pacheco | Getty Images

Elizabeth Holmes' prison sentence has been shortened to 9 1/2 years, according to records from the Bureau of Prisons, per Insider Business. She began what was supposed to be her 11-year prison sentence on May 30 despite her last-ditch efforts to remain free on bail. She is now set to be released on December 29, 2032.

Her request to remain free on bail while she files to appeal her conviction was rejected by the court on May 17, according to Reuters.

Holmes was convicted on several counts of defrauding investors and sentenced to 11 years in prison in November. She has been appealing her conviction with her lawyers alleging mistakes and misconduct during her trial.

Holmes was supposed to begin her sentence on April 27, which was delayed after her last-minute request.

RELATED: Elizabeth Holmes — Now 'Liz' — 'Giggles' About Her Faux Deep Voice and Recalls 'Sleeping in Walmart Parking Lots' in RV Ahead of Trial

At the May 17 hearing, U.S. District Judge Edward Davila also ordered the disgraced Theranos founder to pay $452 million in restitution to her victims, according to reports.

Ramesh "Sunny" Balwani, Theranos' former COO and Holmes' former romantic partner, already began his 13-year prison sentence for several counts of fraud in April, but he and Holmes are both being held jointly liable for the amount of restitution.

RELATED: What Happened to Theranos CEO Elizabeth Holmes? Everything from Her Net Worth to Where She Is Now

Original Story:

Elizabeth Holmes isn't trading in her black turtle neck for an orange jumpsuit just yet.

The former Theranos CEO – who was set to start her 11-year prison sentence on Thursday after she was convicted in November on multiple charges of defrauding investors – will remain free, for now, following a last-minute appeal.

Holmes was scheduled to report to prison on April 27 after a judge denied her request to remain free while she appeals her conviction, per CNN. However, Holmes' legal team filed to appeal the judge's decision on Tuesday, allowing her to remain free on bail while the court considers her last-minute appeal.

Additionally, Holmes cited the birth of her second child when she filed her initial appeal to postpone the start of her sentence.

Former Theranos COO and Holmes' ex-boyfriend, Ramesh "Sunny" Balwani, reported to prison in April to begin his 13-year sentence. He was convicted of fraud charges in a separate trial.

Sam Silverman

Content Strategy Editor

Sam Silverman is a content strategy editor at Entrepreneur Media. She specializes in search engine optimization (SEO), and her work can be found in The US Sun, Nicki Swift, In Touch Weekly, Life & Style and Health. She writes for our news team with a focus on investigating scandals. Her coverage and expertise span from business news, entrepreneurship, technology, and true crime, to the latest in entertainment and TV news. Sam is a graduate of Lehigh University and currently resides in NYC. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

This Dad Started a Side Hustle to Save for His Daughter's College Fund — Then It Earned $1 Million and Caught Apple's Attention

In 2015, Greg Kerr, now owner of Alchemy Merch, was working as musician when he noticed a lucrative opportunity.

Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Business Solutions

Skip the Business Equipment, Get Faxing and Scanning for Life for Just $60

Why spend money on equipment that will take up unnecessary space, when the same things can be done with your mobile devices?


Here's How Business Leaders Can Cultivate Happiness in the Workplace

Learn some of the progressive tactics business owners use to promote a more joyful and productive work environment.

Business News

Adobe's Firefly Image Generator Was Reportedly Partially Trained on AI Images From Midjourney, Other Rivals

Adobe gave bonus payments to people who contributed to the Adobe Stock database to train its AI, even those who submitted AI-generated images.


6 Things That Will Tell You If You Are Destined for Leadership

These qualities are inherent in natural-born leaders.