NEWS / Controversial US businesswoman Elizabeth Holmes gives power of attorney over finances and public image to fiancé

Controversial United States businesswoman Elizabeth Holmes, who has been convicted of fraud for the overvaluation of her health tech company Theranos, has granted power of attorney over her finances and public image to her fiancé Billy Evans as she headed to serve 11.25-year prison sentence at a federal prison.

Evans revealed the arrangement in the documentary movie You Can See Everything, directed by Nathan Fielder and Lance Oppenheim and released on October 16, 2026. Evans has used his power of attorney to publish messages on Holmes’s X account, as well to negotiate financial arrangements involving her likeness, to promote her innocence via billboard advertisements, and even control an AI version of the famed medical business executive, Law Commentary reports.

“There's just so much trust that most things I don't really consult her on,” Evans stated in the film. “I know what she'd want.”

Evans stressed that approximately 80% of the material he posts on X originates from Holmes, currently incarcerated at the Federal Prison Camp Bryan in Texas, a minimum security federal prison. He also negotiated the installation of “Elizabeth Holmes Innocent” billboards across the United States, as shown in this YouTube video by YouTube user Barry King.

Since both Holmes and Evans have an extensive presence in the documentary movie You Can See Everything, Evans insisted on receiving a share of the film’s profits to which director Nathan Fielder reluctantly agreed, noting that the arrangement could compromise the independence of the documentary. However, since Holmes was not aware of the entire arrangement, Evans later withdrew the request for payment, with a conversation on the matter recreated in the movie by both Holmes and Evans.

Holmes’s power of attorney, originally notarized in Texas, has also granted Evans the ability to control an AI version of the businesswoman. While the notarized document has not been made public, Evans claims it allows him to “literally do anything,” suggesting that it may be a general power of attorney.

Elizabeth Holmes founded the biotech company Theranos in 2003 at age 19. The company’s valuation soared in the early 2010s, when it claimed to have revolutionized blood testing by requiring only a small amount of blood to be provided for a variety of health-related tests. In 2015, Holmes was named the youngest and wealthiest female billionaire by Forbes, with her company valued at $9 billion.

In 2016, allegations were made about Holmes overvaluing and possibly misleading her investors and the government about the value of her company. 2 years later, she and her chief operating officer Sunny Balwani, who Holmes was also secretly dating, were charged by the United States Securities and Exchange Commission for raising $700 million through fraud involving false or exaggerated claims about the company’s blood-testing technology. Holmes settled the charges for $500,000, relinquished her voting control of Theranos, and was banned from serving as an officer or director of a public company for 10 years. Following the collapse of Theranos, Holmes began dating Billy Evans, with whom she had 2 children, born 2021 and 2023.

Holmes and Balwani were indicted on fraud charges in June 2018, with a US federal court convicting her in January 2022 of defrauding investors (while acquitting her of defrauding patients). She was sentenced to 11 years and 3 months at Federal Prison Camp Bryan in Texas, with her sentence beginning in May 2023. Holmes and Balwani were also ordered to pay $452 in restitution.

In March 2026, Holmes’s sentence was reduced by 1 year by US District Judge Edward J. Davila in California. She was also approved for a transfer to Austin Transitional Center, a halfway house in Del Valle, Texas, in August 2027, where she will be expected to stay until the completion of her federal prison sentence in February 2030, after which she is expected to be under supervised release for 3 years.

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