Ted Waitt

Ted Waitt

Theodore "Ted" Waitt (born January 18, 1963) is an American billionaire who was a co-founder of Gateway, Inc.

Biography

Waitt was born and raised in Sioux City, Iowa and attended the University of Iowa. Waitt and Mike Hammond started "Gateway 2000" on September 5, 1985 with a $10,000 loan from Waitt's grandmother. The Company began on Waitt's father's cattle ranch moved to Sergeant Bluff, Iowa and later to North Sioux City, South Dakota, where they continued to develop their "down-home" branding, complete with computer boxes that patterned with black and white Holstein cow patternscite web | title="Early History of Gateway 2000" | url=http://ecommerce.hostip.info/pages/474/Gateway-Inc-EARLY-HISTORY.html | publisher = Free Encyclopedia of Ecommerce] .

He led a move of the company's headquarters from South Dakota to La Jolla, California in 1998. Mr. Waitt released the reins as CEO of Gateway in late 1999 to Jeffrey Weitzen, but returned to the post in January 2001.

In 2004, after the acquisition of eMachines, Waitt turned over day-to-day operations of Gateway and the title of CEO to Wayne Inouyecite web | title="Waitt gives up CEO role" | url=http://news.cnet.com/Gateway-completes-eMachines-buy/2100-1042_3-5172583.html | publisher = CNET Networks date = 2004-03-11] , the former CEO of eMachines. In May 2005, he resigned as chairman of the companycite web | title="Waitt leaves Gateway board" | url=http://news.cnet.com/Ted-Waitt-leaves-Gateway-board/2100-1003_3-5714013.html | publisher = CNET Networks date = 2005-05-19] , ending a near 20-year run with the company he co-founded.

Waitt has been featured on numerous lists by Forbes magazine. He has held a spot on both the Forbes 400 Richest in America as well as Forbes list of the World's Billionaires. He has also been listed on Fortune Magazines "40 Richest Under 40", a list of the 40 wealthiest self-made Americans under the age of 40 in the United States. In 2007, Waitt was featured on the Forbes 400 list with a net worth of $1.8 billion [ The 2008 Forbes 400 listed Waitt with a net worth estimated at $1.4 billion, the $400 million drop was explained by "souring real estate" and a nine figure divorce settlement. [http://www.forbes.com/lists/2007/54/richlist07_The-400-Richest-Americans_Rank_12.html] Forbes, September 20, 2007] . http://www.forbes.com/lists/2008/54/400list08_The-400-Richest-Americans_Age.html

According to the September 2002 issue of Fortune Magazine [ [http://money.cnn.com/magazines/fortune/fortune_archive/2002/09/02/327903/index.htm] Fortune, September 2, 2002] , Waitt sold $1.1 billion in Gateway stock during the dot com era. However, in October 2007 when Gateway was acquired for $1.90 per share, his remaining 46.5 million shares were valued at a mere $88.36 million.

Labeled a maverick by national business and technology publications [ [http://www.wired.com/wired/archive/3.05/hogs.html] Wired, May 1995] , he has gone on to form two enterprises that are his chief interests: Avalon Capital Group, Inc., a wholly-owned, billion-dollar private investment company with diverse interests in technology, health care, energy, finance, and real estate; and the Waitt Family Foundation, Waitt Institute for Discovery and Waitt Institute for Violence Prevention, nonprofit organizations dedicated to the improvement of mankind’s knowledge through historical and scientific exploration.

Philanthropy

Through the Waitt Family Foundation, Waitt has become one of America’s 50 most generous philanthropists, according to Business Weekcite web | title= "The Top Givers" | url= http://www.businessweek.com/magazine/content/03_48/b3860601.htm | publisher = Business Week | date = 2003-12-01 | archiveurl = http://www.webcitation.org/5Wdt6RNMv | archivedate = 2008-03-27] . The Foundation funds partnerships and projects, sometimes in conjunction or collaboration with the Waitt Institutes, that seek a deeper understanding of human history and improve mankind’s knowledge through historical and scientific exploration.

Established in 1993cite web | title= "Waitt Family Foundation - Our History" | url= http://www.waittfoundation.org/aboutus/history.html | archiveurl = http://www.webcitation.org/5WdtIXRjQ | archivedate = 2008-03-27] , the Foundation initially focused on domestic violence prevention and community development, knowing that building stronger families and societies will help foster the vision of a better world. The creation of the Waitt Institutes in 2005 --- the Waitt Institute for Discovery, and the Waitt Institute for Violence Prevention --- has allowed the Foundation to broaden its program interests to the global community.

Waitt serves as the Chairman of the Founding Fathers campaign of the Family Violence Prevention Fund, just one of the efforts that he supports in the fight to prevent domestic violence. Waitt was appointed by Congress to serve on the Advisory Commission on Electronic Commerce and has served on numerous other corporate and philanthropic boards of directors, including the Advisory Council of the National Geographic Society and as Vice Chair of the Board of Trusteescite web | title= "Board of Trustees, Salk Institute for Biological Studies" | url= http://www.salk.edu/about/about_leadership_board.php?sid=about&subsid=leadership | archiveurl = http://www.webcitation.org/5WdtgIYxu | archivedate = 2008-03-27 ] of the Salk Institute for Biological Studies.

Mr. Waitt resides in La Jolla, California with his family.

External links

* [http://waittfoundation.org/ Waitt Family Foundation]
* [http://waittinstitute.org/wid/ Waitt Institute for Discovery]
* [http://waittinstitute.org/wivp Waitt Institute for Violence Prevention]

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Gateway, Inc. — Infobox Company company name = Gateway, Incorporated. company company type = Subsidiary of Acer foundation = September 5, 1985 (as Gateway 2000 ) location = Irvine, California, USA key people = J. Edward Coleman, CEO Richard Snyder, Chairman Ted… …   Wikipedia

  • Happy Rhodes — Infobox musical artist Name = Happy Rhodes Img capt = Happy Rhodes in 2003 Img size = 210 Landscape = Background = solo singer Birth name = Kimberley Tyler Rhodes Alias = Born = flagicon|US August 9, 1965 Poughkeepsie New York, US Died = Origin …   Wikipedia

  • Sioux City, Iowa — Infobox Settlement official name = City of Sioux City settlement type = City nickname = motto = Successful Surprising Sioux City imagesize = image caption = image imagesize = image caption = image mapsize = 250px map caption = Location in Iowa… …   Wikipedia

  • List of people from Iowa — This is a list of notable people who were born in or closely associated with the state of Iowa. People not born in Iowa are marked with §. Contents: Top · 0–9 · A B C D E F G H I J K L M N O P Q R S T U V W X …   Wikipedia

  • List of University of Iowa people — Accomplished alumni * Archie Alexander, first African American graduate (in engineering); and, governor of the Virgin Islands * B.J. Armstrong, former NBA point guard for the Chicago Bulls * Tom Arnold, actor ( Roseanne , True Lies) and host of… …   Wikipedia

  • La Jolla, San Diego, California — La Jolla (pronEng|ləˈhɔɪə luh HOY uh ) is a wealthy seaside resort community of up to 42,808 [cite web | title=Population and Housing Estimates, Zip Code 92037 | work= 2004 Estimates| url= http://cart.sandag.org/profiles/est/zip92037est.pdf|… …   Wikipedia

  • 2003 NCAA Division I-A football season — The 2003 NCAA Division I A football season ended with an abundance of controversy.The Bowl Championship Series (BCS) is responsible for deciding the two best teams to play in the BCS National Championship Game However, three teams finished the… …   Wikipedia

  • List of people from South Dakota — State Flag of South Dakota This is a list of prominent people who were born in or lived for a significant period of time in U.S. state of South Dakota. Contents 1 Actor …   Wikipedia

  • Zola Turn — Infobox musical artist Name = Zola Turn Img capt = Alice Austin circa 1999 Img size = Landscape = Background = group or band Alias = Origin = USA Instrument = Genre = Power pop Indie rock Alternative rock Occupation = Years active = 1995 2002… …   Wikipedia

  • HillRaisers — were people who gathered at least $100,000 for New York Senator Hillary Rodham Clinton s 2008 presidential campaign. This was done through the practice of bundling contributions.cite news url= title=Use of Bundlers Raises New Risks for Campaigns… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”