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 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 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.