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Ramesh Balwani is a Pakistani-American former executive. Balwani served as the president and chief operating officer at Theranos, a privately held health technology company that made false claims of creating a new blood test procedure in which a very small amount of sample is needed.
Ramesh Balwani’s Age, Family History, Ethnicity, Nationality
Balwani was born in March 1965 in Pakistan to a Hindu family and is 54 years of age. Due to the difficulties of being a Hindu in Pakistan, the family later moved to India. Later, the family then immigrated to the United States, and in 1986.
He belongs to Pakistani ethnicity and holds an American nationality.
Ramesh Balwani’s Educational Background
Talking about his educational background, he began undergraduate studies at the University of Texas at Austin where he was a member of the Pakistani Student Association. He received an undergraduate degree in information systems. Ramesh joined the University of California, Berkeley, and got his degree in 2003.
He then enrolled in a computer science graduate program at Stanford University. Later, being affiliated with the program for four years, he left without finishing it in 2008.
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Ramesh Balwani’s Professional Life, Career
Ramesh got employed at Lotus Software and Microsoft after leaving college. He later set up CommerceBid.com with several others. He developed a company, CommerceBid.com which provided support to other businesses in purchasing and selling items online. In 1999, CommerceBid.com was bought by Commerce One, a rival B2B e-commerce company whose stock value was high. Ramesh subsequently became part of the board of the new company.
Ramesh joined Theranos in 2009, a few years after his girlfriend, Holmes founded it. Balwani ran the company’s day-to-day operations as its president. However, Ramesh had no training in biological sciences or medical devices, which became an issue because of the absence of medical experts on the company’s board of directors and his behavior.
He publicly likened the Edison, Theranos’ blood-testing device, with the discovery of antibiotics. Within Theranos, he got known for using technical terms he did not understand and what others believed was attempting to appear more knowledgeable.
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Ramesh Balwani’s Net Worth ($85 million)
Ramesh has an estimated Net Worth of $85 million which he has earned from the research company Theranos.
Ramesh Balwani’s Charges
In March 2018, the SEC charged securities fraud against Balwani and Holmes for engaging in an elaborate, years-long fraud. The couple got committed to “raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance,” said the SEC.
She settled the case out of court without admitting or denying wrongdoing, but Balwani is still in litigation as of 2019. He says he is innocent of the charges.
In the same year following an investigation by the U.S. Attorney’s Office in San Francisco that lasted over two years, a federal grand jury indicted president Ramesh “Sunny” Balwani and Elizabeth Holmes on nine counts of wire fraud and two counts of conspiracy to commit wire fraud. Opponents allege that Holmes and Balwani engaged in two criminal schemes, one to defraud investors, the other to defraud doctors and patients.
In June 2019 a U.S. District Court judge ordered Ramesh and Holmes to stand trial beginning in July 2020 Balwani’s attorneys were expected to argue that he made no money for his work at Theranos.
Ramesh Balwani’s Height, Weight, Eye Color, Hair Color
Ramesh stands at a height of 5feet 7inches and weighs about 68kg. He has grey hair color with brown hair color.
Ramesh Balwani’s Relationships, Marriages, Divorce
Ramesh was in a romantic relationship with Elizabeth Holmes during his ownership at Theranos. He met her in 2002 at age 18, while still in school. Ramesh was 19 years older than Holmes but that did not stop them from getting married. Their relationship was not revealed to their Theranos investors.
Balwani was previously married to a Japanese artist named Keiko Fujimoto. Fujimoto and Ramesh lived in San Francisco before they divorced in December 2002.
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