By the time The Wall Street Journal exposed Theranos in 2015, investors understood that nothing Balwani or the company said could be trusted. Theranos claimed to bring in $100 million in revenue in 2014, though later audits showed that the number was actually $100,000.
Because the legitimate revenue was much lower than once proclaimed, the bulk of Balwani’s profits likely came from institutional investors pumping capital into the Holmes-faced Silicon Valley startup. According to the SEC, Theranos raised over $700 million from investors, far exceeding any revenue metrics ever reached.
View more information: https://marketrealist.com/p/ramesh-balwani-net-worth/