The Wall Street Journal reported that its proprietor, Rupert Murdoch, has sold his $US125 million ($164 million) investment in scandal-ridden blood testing group Theranos for just $US1. It was expected to revolutionise healthcare affordability, and led Murdoch and other wealthy investors to inject $US632 million in Theranos between 2014 and 2015, which valued the company at $US9 billion. SHAREShare on Facebook SHAREShare on Twitter TWEETLink The only thing Murdoch has gained from his Theranos investment is a tax loss. The WSJ report came out just months after the major investment by Murdoch. The company has survived, and still had $US200 million in cash at the end of last year.

Source: Wall Street Journal March 26, 2017 23:20 UTC