Elizabeth Holmes Billy Evans
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How Elizabeth Holmes Managed To Hold a Secret Wedding During Her Nationwide Trial

Universal

| LAST UPDATE 11/29/2022

By Elena White

While many are familiar with the rise and fall of Theranos' CEO, Elizabeth Holmes, the alleged con woman has somehow managed to keep her personal life under the radar. We're lifting the lid on it all...

The Dropout

The name Elizabeth Holmes runs shivers through most veins. The woman who promised to change the world with her multi-billion dollar medical company was exposed as a fraud by the media, putting thousands of lives at risk.

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Karl Mondon/MediaNews Group/Bay Area News via Getty Images

The Hulu show, The Dropout tracked the progressions of Elizabeth’s fraudulent blood-testing company. The series concluded with the collapse of Theranos, a defeated Holmes sitting aimlessly on the sidewalk. But what came next for the formidable CEO? Newly surfaced details reveal some unlikely developments in her personal life…

It Starts With Sunny

During a trip to Beijing, China, in 2002, an 18-year-old Elizabeth struck up a relationship with Ramesh "Sunny" Balwani, a man 19 years her senior. As portrayed in the Hulu series, the two had an on-again-off-again relationship for twelve years, starting at that first meeting.

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In the latter years of Theranos, Holmes accepted investment from Balwani in exchange for him becoming the company's COO. During this time, the pair remained a couple, keeping their romantic relationship a secret from their employees. They later parted ways amidst Theranos' downfall.

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The Aftermath

In 2018, Elizabeth was officially charged with fraud, and Theranos was shut down entirely. Previously living in Balwani’s residence, Holmes was left homeless and alone. The woman Forbes had previously titled the youngest self-made billionaire with a net worth of $9 billion was now worth $0.

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Justin Sullivan via Getty Images

While it seemed like there was no hope for her to get out of the incredibly difficult situation she had put herself in, Elizabeth Holmes had not got where she had without playing the game of life. Being the notorious Theranos founder, she had a survival plan up her sleeve. She knew she would find a way out of the depths…

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A Partner by Her Side

As Elizabeth Holmes walked into the court case to stand trial for her fraudulent practices, many could not help but examine the paparazzi photos taken at the scene. Her glum expression had many wagging fingers - but there was something else about the photographs that had people talking.

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Justin Sullivan via Getty Images

There alongside Holmes was a man lovingly holding onto her arm. Many began to question his motivations and purpose - who was he? Where did she meet him? As more information about the mysterious man was revealed, it became clear that she had done exactly as she set out and found the perfect partner to stay by her side…

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Meet Billy

The mysterious person in the arms of Elizabeth Holmes was, in fact, her husband, William "Billy" Evans. The 29-year-old MIT graduate was born into a wealthy, upper-class family in San Diego. According to publisher Margo Schwab, the family can be described as "San Diego old guard, never pretentious, and very powerfully connected."

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@gracieevans via Instagram

Most noteworthy, however, is the fact that Billy (above, left) is the grandson of William and Anne Evans - the founders of the Evans Hotel Group. The company is now run and managed by Billy's father, William. As the heir to this establishment, Elizabeth was presumably aware of her future husband's astonishing net worth.

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A Striving Businessman

After graduating from MIT in 2015 with a science in economics degree, Evans went on to work as a Strategy and Analytics Leadership Program Analyst at LinkedIn. It's reported that before he took this position, Evans tried to make it big on his own in the medical field, just like his future wife.

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@gracieevans via Instagram

New York Post source revealed that Billy's dream was to establish a concierge service for wealthy Chinese people to receive medical care in the States. "Then he realized that it's actually very hard to get in with the affluent Chinese community if you're not fluent in Chinese, so he dropped that," the source claimed.

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Revealing Letters

In the lead-up to Elizabeth's sentencing, her family submitted letters to the judge, begging him to be lenient with the punishment. The first letters to be revealed were those written by her husband, Billy. He defended his wife and revealed personal details about their relationship.

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Nic Coury/AP via Shutterstock

"While Liz is incredibly hopeful, I realize she is terribly scared," he wrote. "This process is a string of unlikely events that lawyers, advisors, and board members all told her would never come to be." Using these notes and testimonies from multiple sources, we've drawn up a timeline of the unlikely couple's relationship.

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The Meet Cute

As penned by Evans himself, the pair met at a Fleet Week party in the Fall of 2017. This was during the ongoing investigations into Theranos. "The two of us immediately connected," he recalled. "We walked away from the others, and it was as if the rest of the world ceased to exist."

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Justin Sullivan via Getty Images

"It was strange to feel so comfortable with someone who I didn't know. I was captivated by her childish wonder and authenticity. We spoke for hours, I lost track of time, and even if I didn't know it…. I fell in love. She pulled out her business card, scribbled her personal cell on the back, and then it clicked who she was."

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Just Friends

With Evans now aware of this mysterious woman's true identity, he cautiously avoided striking up an intimate romantic relationship with her. Like everyone else, he had read articles written about her and was suspicious of her motives. He decided to start by being her friend and see where that led.

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@wbevans via Instagram

"I was admittedly hesitant to dive in given all that had been said, Liz had been consistently vilified in every piece of media imaginable," he explained in his letters. "The more I got to know her, the more I loved who she was. It was not long before the friendship turned into something more."

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Family Concerns

Upon hearing the news of Billy's relationship with Elizabeth, it's believed that his family was greatly concerned. According to Vanity Fair's Nick Bilton, the Evans viewed her as a "scam artist" and feared she would take advantage of their son and his inherited fortunes.

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@gracieevans via Instagram

According to the New York Post source, the family was unsupportive of the relationship and came to him with their concerns. "His family is like, 'what the f*** are you doing?' It's like he's been brainwashed. [He says,] 'the media has it all wrong about her.'"

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Friends Intervene

It's not only Billy's family that expressed their concerns - his friends were also forthcoming with their suspicions. Billy's former Luminar colleague told the New York Post that "He's had a lot of people very close to him sit him down and have a talk…"

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Jeff Chiu/AP via Shutterstock

According to the source, they have made comments to him, such as "'this could be the biggest mistake you'll ever make.' 'The negativity around her could blow back on you.' 'You've never encountered anything like this.' 'You need to think hard about what you're doing.'"

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A Pleasant Surprise

But, despite the resistance from his family and friends, Billy was sure of his feelings towards Elizabeth. The pair continued to date, blocking the hate they received from their family and friends. While Elizabeth was under the impression that Billy was a playboy, she was surprised by his affection towards her.

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@wbevans via Instagram

A former colleague of Billy told The New York Post in 2019 that he had met with Evans days after he met Elizabeth, and he, too, had been pleasantly surprised by her. "I was hanging out with Billy, and he said, 'You won't believe who I met! She's not as the articles portray her to be.'"

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Mutually Beneficial

According to a New York Post source, Elizabeth and Billy's relationship "is opportunistic for the both of them." "Evans is like [Holmes'] "shiny new toy," they said. "She's super enthusiastic about being with him. Elizabeth needs a lot of support in her life right now." Vanity Fair also speculated he finances Holmes' legal services.

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@wbevans via Instagram

The source noted that Evans believed his reduced "social value" would "get [him] something else in return" - presumably fame. "I met two of his ex-girlfriends. They were both Instagram models, and he was super proud of that fact," he noted. "He would date young, absolutely drop-dead-gorgeous girls [with big followings]."

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Office Visits

In 2017, Billy began working at Luminar, and it's reported that Elizabeth would come to visit her husband at the office a lot. "It was inappropriate for her to be in the office," an ex-colleague told The New York Post. "You have this total fraudster in the office while you have investor meetings."

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Jeff Chiu/AP via Shutterstock

The source explained that in addition to it being inappropriate work etiquette, the company worried investors would misunderstand her appearance as involvement in the company. "If I was an investor and I saw [Holmes] walking down the hallways, I'm going to be like, 'Holy s***, get me out of here!'"

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Public Sightings

While at first, the couple remained mostly private, choosing to keep their relationship out of the public eye and public opinion, they were spotted on a few occasions out and about. In August 2018, they were photographed together at Burning Man. They're also fans of the Fillmore District neighborhood.

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Justin Sullivan via Getty Images

In February 2019, they became Instagram official when Billy posted a photo of the couple together to his stories. To mark the occasion of his girlfriend's birthday, he dedicated the story to her, publically declaring his love for her. "Happy bday to my best friend," he wrote. "The last year has been the best I've ever had."

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Getting Serious

In 2019, two years after the couple met, Billy and Elizabeth became engaged when Evans popped the question. It's likely Elizabeth caught a surprise when she saw the ring he proposed with, especially considering her future husband's wealthy background. "He gave her his MIT signet ring," Billy's Luminar colleague told The Post. 

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@wbevans via Instagram

"Billy and the MIT ring, they are inseparable. He always wore it on his pinky finger," the source continued. "He could snap his fingers and have a triple-A diamond engagement ring instantly if he wanted to. But if you give her some extravagant ring, it could end up owned by the feds if she has to give up her material possessions."

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The Guest List

It's reported that most of Billy's friends hoped the wedding wouldn't come to be. According to The Post's source, there was a range of RSVP responses to the wedding invitations. "Some friends are saying, 'I want to go to this wedding because I want to see this spectacle,' and others are like, 'I'm not going. I don't respect her.'"

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@gracieevans via Instagram

They couldn't understand Billy's decision. "He seems like he had a solid head on his shoulders and had common sense and was a good judge of character… How does a rational, very intelligent person reach such a different conclusion about a person [than the rest of the country]? It doesn't make sense."

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The Secret Wedding

But, regardless of anyone else's opinion, the lovebirds got married in a secret intimate wedding ceremony in June 2019. The B*tch Sesh podcast was the first to break the news after a friend of the couple reported the nuptials to them. VF's Bilton also used his sources to confirm the wedding had taken place.

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@wbevans via Instagram

While Bilton was not at the wedding, he revealed in his podcast, Inside the Hive With Nick Bilton, all the details that he had been given. "I heard that no Theranos people were invited, which is interesting because she's still friendly with some of her Theranos folks," he speculated.

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Wealthy, Again

Shortly after the collapse of Theranos, Elizabeth moved in with Billy at his $5000/month San Francisco apartment. Within just days of her net worth dropping down to $0, Holmes had found her way back to a life of luxury, thanks to her new wealthy partner.

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Mediapunch via Shutterstock

The next year, the couple upgraded to a $135 million, 74-acre estate in Woodside, California. It included multiple swimming pools, a tennis court, and even vegetable gardens. While technically, her newfound wealth was not in the billions like her previous self, it was a far better life than living on the streets or worse  - jail.

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Delaying Tactics

Although Holmes had been first charged back in November 2018, her trial was put on hold due to the COVID-19 pandemic. When court procedures were re-started, a new trial date was set for July 13, 2021. Shortly after this announcement was made, Elizabeth revealed she was expecting her first child with her husband, Billy...

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Nhat V Meyer/MediaNews Group/Mercury News via Getty Images

Soon after, a CNN report stated that Holmes' counsel and prosecutors agreed the trial should be postponed. "In light of Defendant's pregnancy, the parties stipulate and agree, and respectfully request that the Court order and that the trial begins with jury selection on August 31, 2021." On July 10, 2021, Williams Holmes Evans was born.

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By Her Side

Two months after the birth of their son, in September 2021, Elizabeth's criminal fraud trial began. According to the Associated Press, Billy attended the entire hearing, sitting alongside her parents in the front row. In every paparazzi picture, he could be seen gripping her hand tightly.

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Justin Sullivan via Getty Images

On January 3, 2022, the jury found Elizabeth guilty on four counts of wire fraud for misleading investors about her promising medical technology. The Associated Press reported that Elizabeth was straight-faced while the verdict was revealed - however, Billy was very shaken up.

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Paying the Price

In the letters to the court, Evans declared that Holmes' trial had negatively impacted their personal life, arguing this meant she had already paid for her crimes. He noted that they had moved multiple times after their home address was revealed and that their son has been "avoided by other families."

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Andrew Burton via Getty Images

"The price Liz and our family pay for this process is not just the potential incarceration that you will decide. In ways large and small, the process itself has daily costs," he wrote. "This will follow us for the rest of our lives. There is no avoiding the scorn that accompanies Elizabeth Holmes."

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Rushing to Her Defense

As part of his letters to the court, Billy defended his wife's character. "Liz has been called an incredible salesperson. The truth is stranger. Liz has no ability to 'sell something;' she simply believes in things with such depth that it is alluring. She believes deeply in her life's mission."

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Ethan Swope via Getty Images

"Liz is not a traditional natural-born leader," he continued. "She is more of a zealot than a showman. She believes with religious fervor in the capacity to make the world a better place, and everyone around her just wants that one truth to be possible, so we end up believing in the impossible alongside her."

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Power in Numbers

But it was not just Billy by Elizabeth's side. With each court appearance, the ex-Theranos CEO arrived hand-in-hand with her support team: Elizabeth's mother and father, Noel and Christian Holmes, were seen publicly supporting their daughter through all the legal proceedings.

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Jane Tyska/Digital First Media/The Mercury News via Getty Images

Even more surprising was the appearance of Billy's father, William L. Evans, who was seen holding the hand of Elizabeth's mother and walking alongside his daughter-in-law. Although he had been hesitant about her intentions at first, it seems Elizabeth had managed to win him over, as he now stands publicly on her side.

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Second Pregnancy

In November 2022, just days before Elizabeth was due to appear in court for her sentencing, news broke that the infamous CEO was pregnant with her second child. According to court records, she had conceived the child after having received her guilty verdict in January of that year.

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Justin Sullivan via Getty Images

In the lead-up to the Judge's sentencing, Elizabeth's defense utilized the pregnancy to fight for a compassionate judgment, pleading with the Judge for her unborn child not to live a life with a mother in jail. Billy also referenced the pregnancy in his letters, which is when the development was first confirmed.

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The Sentencing

On November 18, Elizabeth arrived at the federal court with her supportive husband by her side. While she had been found guilty, it was now time for U.S. District Judge Edward Davila to hand down his sentence. Just before the reveal, Holmes tearfully made an announcement of regret.

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Justin Sullivan via Getty Images

"Looking back, there are so many things I would do differently, if I had the chance. I regret my failings with every cell of my body," she cried. After calling Elizabeth "brilliant," the Judge sentenced her to 11 years in federal prison starting April 27, 2023. He noted this date would allow her to give birth outside of jail.

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Public Backlash

Since news of their relationship hit the headlines, Elizabeth and Billy have been the subject of much online debate. Many members of the public have been vocal about their disapproval of the coupling, questioning the sincerity of the feelings involved.

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Justin Sullivan / Staff via Getty Images

"I think this man was chosen by her to set up a narrative of feel sorry for me and my kids!" commented one user. "Nothing about her behavior is natural, it's all choreographed," agreed another. One comment expressed his hope that Billy will realize her true intentions once she is behind bars and he has time to reflect.

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Rolling With the 'Holmies'

On the flip side, a small group of people has come forward to show their support for Elizabeth and her relationship. These self-titled 'Holmies' have taken to TikTok under the hashtag #GirlBoss to express their admiration for the famous fraudster. As for how they explain it?

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Kimberly White via Getty Images

"I guess there's empowerment in the idea of having a female villain because that's typically something that's like very taboo," TikToker Serena Shahidi noted. "There is something kind of progressive about the idea that a woman in the news isn't playing by anyone's rules."

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Plans To Appeal

Elizabeth Holmes does not plan to go down without a fight, making clear her intentions to appeal the verdict. Talking to Yahoo Finance, her lawyer explained what his client plans to do next. "She will no doubt file an appeal within the next two weeks," he confirmed.

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Justin Sullivan via Getty Images

"The question of whether she stays out pending that appeal will be up to the judge, and then if he decides that she must stay in, she can appeal that to the ninth circuit court of appeals. So whether or not she reports to prison on April 27th remains to be seen."

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What Next?

It's anyone's guess as to what we can expect next from Elizabeth Holmes. The woman who seems to never let anything get in her way always seems to have a clever plan up her sleeve. The only thing we know for sure is that Holmes will plead her case up until the last moment.

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Kimberly White via Getty Images

Noting her track record at staying relevant and newsworthy, we're expecting to be hearing lots more about her in the upcoming months. With around five months to go until she is due in jail, there's plenty of time for some more twists and turns. Stay tuned.

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