“Like other founders of privately-held startups, Holmes did not hold any liquid securities in her company. It’s possible that she sold some shares along the way ― as small secondary transactions alongside broader company fundraises ― to pay the mortgage or buy a car (even a nice car), but the vast majority of her holdings had little more than theoretical value.
“What’s perhaps more remarkable is that Forbes doesn’t seem to have realized its original sin. This year’s list includes several women whose ‘net worth’ also is tied to the opinions of a small group of outside investors. Jessica Alba probably has some Flipper and Dark Angel money in the bank, but the $340 million assigned to her by Forbes is largely based on how venture capitalists recently valued her retail startup, The Honest Co., at $1.7 billion.”
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