Ty Warner

H. Ty Warner (born September 3, 1944) is an American toy manufacturer and businessman. He is chairman, CEO, sole owner and founder of Ty Inc., which manufactures and distributes Beanie Babies, Beanie Baby 2.0s, Ty Girlz, Pluffies , LI'L Ones, Beanie Boos and other plush items. In 2005 Forbes estimated his net worth at approximately $4.4 billion — down from a peak of $6 billion — still making him one of the wealthiest people in the world.

Early years

Warner attended St. John's Military Academy in Delafield, WI. Warner attended Kalamazoo College in Michigan but dropped out after a year and moved to Hollywood to commence a career in acting. He had little success as an actor and returned to Chicago. There he began working for plush toy maker Dakin. After nearly two decades at Dakin and a long sabbatical in Italy, Warner returned to Chicago.

Ty Inc.

In 1986, Warner mortgaged his home and invested his life savings into founding Ty Inc. In 1993, Ty Inc. launched Beanie Babies. At the peak of the Beanie craze, the privately owned Ty Inc. is believed to have earned over $700 million in profits in a year. In 2007, Ty Inc. went head to head with MGA Entertainment makers of the Bratz with the release of Ty Girlz dolls and virtual world.

Investments in hotels and resorts

Warner has diversified beyond toys with significant investments in hotels, property and golf courses. Ty Warner Hotels and Resorts include the Four Seasons Hotel in New York, the Sandpiper golf course, the Four Seasons Resort in Santa Barbara, California, the San Ysidro Ranch in Montecito, the Kona Village resort in Hawaii purchased in July 2004, the Montecito Country Club and the Las Ventanas al Paraiso Resort in Los Cabos, Mexico which was acquired in September 2004. In 2005, Warner also bought the beachfront Miramar resort and Rancho San Marcos golf course.

Philanthropy

Warner is a philanthropist, with donations of $6 million to the Andre Agassi Foundation for underprivileged children in Las Vegas and $3 million for the creation of Ty Warner Park in Westmont, IL. He also donated $1.5M for the creation of the Ty Warner Sea Center in Santa Barbara, California and donated one million Beanie Babies for children in Iraq. Warner also donated more than $300 million worth of soft toys for a Red Cross blood drive. Additionally, Warner has designed a number of Beanie Babies with the intention of donating all of the profits to charity. Ty Inc.'s charity releases have raised millions for a variety of charities, including the Elizabeth Glaser Pediatriac AIDS Fund, the American Red Cross, and the Princess Diana Memorial Fund.

In 2006, Warner received the Children's Champion Award from Children's Hunger Fund for his philanthropic efforts—Ty Inc. donated 1 million Beanie Babies to Children’s Hunger Fund relief efforts in Iraq and Afghanistan.

Privacy

Warner rarely grants media interviews.

See also

• List of billionaires

External links

• Ty, Inc. Corporate Website
• Ty Girlz Official Site
• Forbes.com: Forbes World's Richest People
• Elisa Williams, "There Goes the Neighborhood", Forbes, October 1, 2001
• "Ty Warner", U.S. News and World Report, February 8, 2004
• "Ty Warner Acquires Las Ventanas al Paraiso Resort in Los Cabos, Mexico from Dallas-based JTL Capital, LLC; Rosewood Continues as Operator", press release, September 4, 2004
• "Ty Warner", Sunday Telegraph, July 18, 1999
• "Five Minutes With Ty Warner’s Right Hands: Luis Fernandes and Atef Mankarios", Hotels magazine, March 2005
• Guillaume Doane, "Hotel Owner Battles Against ‘Anti-Ty’ Campaigners", Monticeto Journal, August 31, 2006
• Thomas S. Mulligan, "Bubble bursts on Beanie Babies", Los Angeles Times, August 31, 2004

• http://www.architecturaldigest.com/homes/hotels/2007/07/hotels_article_072007