H. Ty Warner (born September 3, 1944) is an American toy maker, entrepreneur, and ex-actor. He is the CEO, sole proprietor and founder of Ty Inc. which produces and distributes toy dolls, including Beanie Babies and other lines. In Forbes 2016 billion world list, he was ranked # 722 with a net worth of US $ 2.4 billion.
Video Ty Warner
Education
At the age of 14, Warner went to Lyons Township High School (southern campus) in Western Springs, Illinois. He then went to St. Military Academy. John in Delafield, Wisconsin. Warner attended Kalamazoo College in Michigan but dropped out after a year.
Maps Ty Warner
Careers
1980-1993
Warner moved to Los Angeles to start a career in acting. He was a bit successful as an actor and returned to Chicago after five years. There he started working for the Dakin luxury toy maker as a salesman, the same company his father worked for. In 1980 he was fired by Dakin, reportedly for selling his own products in competition with the company line. After spending three years in Italy, Warner returned to Chicago.
In 1986, he mortgaged his home and invested his life savings and inheritance from his father to found Ty Inc. Warner began selling stuffed cat toys (inspired by some luxury items he had seen in Italy).
1993-2004
In 1993 Ty Inc. launched Beanie Babies. At the height of Beanie's madness, privately owned Ty Inc. is believed to have generated over $ 700 million in profits in a year. The phenomenon of Beanie Babies, coupled with the rise of the Internet, is touted as elevating the status of the billionaire.
Creating the First Internet Sensation in the World
Lina Trivedi is a student when she works at Ty Inc. and he approached Warner to talk about new developments on campuses called the Internet. He pointed out that the Internet is primarily a research tool, but students are starting to create personal websites and he thinks creating a Web site for Beanie Babies can provide an unprecedented opportunity to involve the market in a unique way. He brings to the office Ty a 14.4k modem and demonstrates the workings of the Internet. Mr. Warner is interested and grants Trivedi free license to create Web sites using their judgment and skills. By the time the first iteration of Ty's Web site was published in late 1995, only 1.4% of Americans use the Internet. The population of people using the Internet grew exponentially in subsequent years, along with the popularity of Beanie Babies, and the synergy of the two resulted in the creation of the world's first Internet sensation. Warner is the first to generate business to consumer websites designed to involve their market.
2004-present
In 2007, Ty Inc. face to face with MGA Entertainment's makers from Bratz with the release of Ty Girlz dolls and virtual worlds.
He also has significant investments in hotels, properties and golf courses. Ty Warner Hotels and Resorts include Four Seasons Hotel in New York City, Sandpiper golf course, Four Seasons Resort and San Ysidro Ranch in Montecito, California, Kona Village resort in Hawaii (purchased in July 2004), Montecito Country Club and Las Ventanas al Paraiso Resort in Los Cabos, Mexico (acquired in September 2004). In 2005, Warner also purchased the beachside Miramar resort and the Rancho San Marcos golf course but sold the Miramar hotel in 2007 to Caruso Affiliated.
Philanthropy
He has donated more than $ 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, Illinois. He also donated $ 1.5 million for the creation of Ty Warner Sea Center in Santa Barbara, California and donated a million Beanie Babies to children in Iraq. Warner also donated more than $ 300 million soft toys to drive Red Cross blood. In addition, Warner has designed a number of Beanie Babies with the intention of donating all the profits to charity. Ty Inc. charity release has amassed millions for various charities, including the Elizabeth Glaser Pediatric AIDS Foundation, the American Red Cross, and the Diana Women's Memorial Fund.
In 2006, she received the Children's Award from Children's Hunger Fund for her philanthropic effort - Ty Inc. Donating 1 million Beanie babies for the help of the Donation Fund for children in Iraq and Afghanistan.
In 2012, Warner stopped a woman and asked for directions in Santa Barbara, California. The woman is trying to raise money for the stem cell procedure she needs to save her life. After knowing his condition, he gave $ 20,000 for the procedure.
Tax evasion
In 2014, Warner was sentenced to two years probation plus community service for tax evasion. Since 1996 he has had secret accounts abroad in Switzerland with UBS, which according to the prosecution was hidden at a time of $ 107 million. Later, Warner uses Zurcher Kantonalbank to maintain his overseas account. His philanthropic activities are considered when he gives a relatively soft sentence. He paid a $ 53 million fine.
Warner has been trying to take advantage of the IRS tax pardons offered after UBS 2008-10 tax scandal, but the government refuses to accept it. His lawyer, including former IRS Deputy Commissioner Mark M. Matthews, successfully used "Olenicoff Defense" to convince judges that Warner did not deserve to be sentenced to one year and one day of imprisonment recommended by the prosecutor. The defense was based on the government's treatment of Igor Olenicoff, a California real estate tycoon. The lawyers cited Olenicoff for dropping off with imprisonment when he was sentenced for tax evasion through offshore accounts.
Warner's pretrial report calling for imprisonment says his foreign accounts are the largest ever found. In fact, lawyers point out, Olenicoff has $ 240 million hidden offshore. Olenicoff's defense succeeded. On January 14, 2014, District Court Judge Charles P. Kocoras sentenced Warner to two years probation and 500 hours of community service. The judge rejected the claimant's recommendation for one year and one-day prison time to act as a deterrent to other tax fraud. Olenicoff, who also received a two-year probation and community service, pleaded guilty to filing for a false tax-crime bill. Warner pleaded guilty to more serious tax evasion charges.
Personal
Warner was born on September 3, 1944 in Chicago, Illinois, and grew up on the outskirts of La Grange, in a Prairie-style house designed in the early 1890s by Frank Lloyd Wright, now known as Peter's Goat Home. His father was Harold Warner, a jeweler and jeweler. His mother is Georgia Warner, a pianist. He has a much younger brother, Joyce. He was named after Ty Cobb's baseball player. She was never married and had no children. Warner maintains a low public profile, seldom gives media interviews or releases personal or corporate information.
See also
- The World Billionaire
References
External links
- Ty Web site, Inc.
Source of the article : Wikipedia
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