To make a name for oneself, especially when you are from a different country and albeit from a distinct race, can be difficult. Also, with the competitiveness of the medical field increasing with every passing invention is no little thing. Sunny Balwani was a name that, at one point in time, had completely wowed the entrepreneurs in Silicon Valley. However, soon the ‘sunny days’ were over, and currently, he’s facing jail time! So, what is the ex-Theranos boss Sunny Balwani net worth? We’ll get to know soon.
That’s not all! Biography Talk brings some quirks about his life, connection with Theranos, ambitious moves, and love – turned-fraud-life with Elizabeth Holmes.
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What is Sunny Balwani net worth?
Currently, Sunny Balwani net worth is touted to be at $85 million. This figure was last updated in mid-quarter of 2022, and there has been no update regarding his latest net worth post his judicial engagements.
Apart from his inherited wealth, a major amount of his wealth comes from his shares in Theranos (he sold the company for $40 million). His other sources of income include his past job experiences in companies such as Microsoft and Lotus Software. He has assets amounting to millions, which currently the Federal Police are looking into. No concrete details have been obtained.
When he was working at Theranos – his salary was $1! However, with time he helped out the fledgling company and made $4.5 million worth of stock to his name.
It is no secret that this wealth has not been a single stream flow, rather, it has come from intelligent investments. So, what are those areas where he invested, and what’s the current status of the same? Here’s taking a look –
How did he invest his money?
The current valuation of Sunny Balwani net worth comes from his set of investments at Theranos and other ventures (certain details have been kept under wraps due to the case being sub-judice).
His first taste of success came when he was made the board member of the parent company of Commerce One – by the name of Commercebid. The deal earned him millions.
The next set of investments that boosted Sunny Balwani net worth was his push of $13 million to Theranos – founded by his then-girlfriend Elizabeth Holmes. When at the end of 2014, the company was valued – the amount was $9 billion, which massively pushed up the investor’s net worth.
He was also said to own a residential property in the San Fransisco area where he lived with his wife and another flat jointly near the Theranos office. He also had a condo in Palo Alto, where he initially moved in with his girlfriend – Holmes. Last checked, he drove a black Lamborghini specially carved with the words – Veni Vidi Vici.
Who are his family members?
Though the man has been in the limelight for a considerable period, yet, he has not revealed his family’s details. Until this article is written, one does not know much about his parents or siblings. From the information we have gathered, Ramesh ‘Sunny’ Balwani was born into a Sindhi Hindu family in Pakistan. He was educated at Aitchison College, one of the most prominent colonial institutions in Pakistan. This clearly depicts that he was from a well-to-do family, and that has added to Sunny Balwani net worth that we know today.
In the mid-80s, his family moved to India, citing concerns about the Hindu minority in the Islamic -majority country. Later they moved to the USA, where he attended the University of Texas (Spring of 1987). He dropped out of the University, and to an extent, there was no news of him for a long time.
How he came to the limelight and what led to his downfall is a matter we will discuss later – but before that – know that he was married to a Japanese professional artist Keiko Fujimoto. However, the couple parted ways in 2002, sometime after he started his relationship with Elizabeth Holmes. Since the alimony claims and details of this divorce are not available, so there’s no update on how this divorce financially affected either Fujimoto’s or Sunny Balwani net worth.
Do you know this about his career and professional life?
It is no secret that to make an amount remotely equivalent to the latest available Sunny Balwani net worth, one needs to have a strong professional life. His business acumen has always been at the forefront and his MBA degree added to that.
Initially, he worked at Microsoft and Lotus Software after finishing his undergraduate degree in Information Systems from the University of Texas. With the experience gained, he also assisted in the development of the software development company – Commercebid.
He showed how eCommerce navigated the world’s markets when the internet was just making its waves felt. In 1999, Commercebid was sold, and Balwani was made a part of the board of members.
Once that was done – he went on to complete his MBA from the University of California, Berkeley. After completing his MBA program, his sole motive was to help Theranos reach the heights of success. But unfortunately – this flight was doomed from the start!
What is the Theranos story?
During his MBA program, he was on a language exchange program in Beijing; China met Elizabeth Holmes, who was 18 at that point and a student at Stanford University. Balwani was of 37 years of age, and they kickstarted their relationship, which was more of a mentor and student type.
Holmes had been recuperating from a traumatic rape while, Balwani was undergoing a separation from his wife. Clearly, the hearts connected and thus started a new journey – the pathway of which was not marred.
The Theranos story has a huge role to play in amplifying Sunny Balwani net worth. Holmes, after dropping out of Stanford, was looking for funding for her medical startup, Theranos (this startup promised to globally revolutionize the blood-testing industry). In fact, for the unversed, it stated that this medical start-up would be able to detect any disease only by the basis of blood examination (3 drops of blood precisely).
Sunny Balwani had invested an amount into this company. In 2009, Holmes brought in Balwani as one of the executives in the company. Initially, he started off as a company executive-cum-investor, but later he started to oversee the daily operations of the company.
However – the problem arose when a man lacking medical knowledge started overseeing an institution that was purely medical in nature. He soon became the Chief Operating Office of Theranos – a surprise for many! The fact that there was an ethical issue about him dating Elizabeth Holmes is a different chapter altogether.
As a matter of fact, the experiments were supposed to return the results as previously stated by the executive team. But when the results did not turn out to be the same – then the concerned employees were fired, and the company hid the results from the medical department. This fraudulence was also a reason behind the boosted Sunny Balwani net worth.
How much did he invest in Theranos?
He was one of the angel investors for Theranos and invested $13 million into this company. After that, he took control of the company and made some crucial decisions about its future.
What was his relationship with Elizabeth Holmes?
Though initially, the relationship was that of a mentor and student, with time, this turned into something romantic. The couple moved into Sunny’s condo, and in 2009 – Sunny joined Theranos as an executive. However, they both continued their relationship despite ethical conflicts at work. It was only when Theranos started falling apart, and Balwani sold his part of the stocks – that significantly added to Sunny Balwani net worth.
After the company’s reality came to the forefront and investors started detracting, the couple broke up in 2016.
How much jail time is he facing?
With the fraud story out before one and all – Federal Prosecution has taken the whole proceeding under its wing, and the case is set as State vs. Sunny Balwani. In 2018, the ex-couple was faced with charges of security fraud of raising $700 million regarding false claims about the company.
They were charged with fraud on nine counts. As per the verdict, Holmes was supposed to serve 11 years in prison. Sunny Balwani’s verdict had not yet come at the time this article was being composed.
Summing up his story
To earn some respect and hold on to it is quite a difficult scenario. Despite America promising the fulfillment of the marveled American Dream, for anyone coming from a different race and an Asian country, achieving those heights of success is quite challenging. But to lose all that – and in fraudulence can be one of the most disappointing and disheartening occurrences. The story behind Sunny Balwani net worth is quite similar, with him now counting days amounting to his starting his jail term.
The case is still sub-judice. You can keep checking our website to receive updates on the same.