DeVos Family Office RDV Corp Invested $100 Million into Elizabeth Holmes Theranos

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DeVos Family Office RDV Corp Invested $100 Million into Elizabeth Holmes Theranos

29th October 2021 | Hong Kong

DeVos Family Office RDV Corp, the co-founder of American multi-level marketing company Amway and owner of NBA Basketball Team Orlando Magic with more than $5 billion fortune, had invested $100 million into Stanford University drop-out Elizabeth Holmes medical-startup and blood-testing device Theranos Inc in 2014, according to a representative of DeVos Family Office in a legal proceeding.  In 2014, Lisa Peterson who manages private equity investments at DeVos Family Office RDV Corp, testified that Elizabeth Holmes was hand-picking 5 to 6 private families to invest in her firm, and had on hindsight, misrepresented revenue and blood-testing technology was not invented by Theranos, but by 3rd-party systems.  More than $900 million were invested into Theranos, including media tycoon Rupert Murdoch ($125 million) and the Walton Family (Walmart).  Betsy DeVos is the former United States Secretary of Education from 2017 to 2021 under Donald Trump Administration.  Amway was co-founded by Richard DeVos (1926 – 2018) and Jay Van Andel in 1959, which became one of the most successful multi-level marketing selling health, beauty and home care products.  

“ DeVos Family Office RDV Corp Invested $100 Million into Elizabeth Holmes Theranos “

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ABC News: Ex-Theranos CEO Elizabeth Holmes says ‘I don’t know’ 600+ times in depo tapes

60 Minutes Australia: Elizabeth Holmes exposed: the $9 billion medical ‘miracle’ that never existed

CNBC: Where the Elizabeth Holmes trial stands at its halfway point

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