Source of Wealth:Real Estate and Plush Toys
Birth Place:Chicago, Illinois
Full Name:H Ty Warner
Date of Birth:September 3, 1944
Occupation:Owner, Founder and CEO of Ty Inc.
Education:Kalamazoo College (Drop Out)
About H Ty Warner
American businessman and toy manufacturer Ty Warner has an estimated net worth of $1.76 billion as of February 2014.
Warner earned his estimated net worth as the sole owner, founder and Chief Executive Officer of Ty Inc. The company manufactures and distributes Beanie Babies, Beanie Baby 2.0s, Ty Girlz, Beanie Boos, Beanie Ballz, Monstaz, Pluffies, LI'L Ones and many other plush items for adults and children.
Born H. Ty Warner on September 3, 1944 in Chicago, Illinois, he went to Lyons Township High School and later to St. John’s Military Academy in Delafield, Wisconsin. He also attended Kalamazoo College in Michigan but dropped out of school after a year.
Warner then moved to Los Angeles to pursue a career in acting. He had little success there so he decided to return to Chicago where he began working for plush toy maker Dakin for nearly two decades. He took a long sabbatical in Italy but moved back to Chicago later.
In 1986, Ty Warned founded Ty Inc. and launched Beanie Babies in 1993.
With the Beanie craze at its peak, the company is believed to have earned more than $700 million in profits in a year. In 2007, it released the Ty Girlz doll and virtual world to compete with the MGA Entertainment, the maker of Bratz. In the recent years, it has expanded its product line which now includes Beanie Boo's, Monstaz and the popular Beanie Ballz.
Though Ty Inc. may be growing through the years but Warner’s significant investments involve hotels, property and golf courses through Ty Warner Hotels and Resorts. His most valuable holding is the New York Four Seasons. In November 2012, he turned down a $900 million offer for a property with an estimated $2.4 million per room earnings and could probably make him one of the richest in the city’s history.
On October 2, 2013, Warner pleaded guilty to hiding $25 million from the IRS, with as much as $107 million withheld at one point. The sentence got appealed on February 2014
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