Name: Tedd Waitt
Born: January 18, 1963, in Sioux City, Iowa
- American billionaire philanthropist who was a co-founder of Gateway, Inc. Waitt and Mike Hammond started Gateway 2000 on September 5, 1985 with a $10,000 loan secured by Waitt's grandmother.
- According to the September 2002 issue of Fortune magazine, Waitt sold $1.1 billion in Gateway stock during the dot-com era.
- In August 2007, Gateway was acquired by Acer Inc. for $1.90 per share or $710 million.
Honors and awards
- America's 50 most generous philanthropists, according to Business Week.
- Forbes 400 Richest in America (2008) net worth estimated at $1.4 billion.
- Listed on Fortune Magazine's "40 Richest Under 40."
"We closely considered MOO. We felt that a symbol (like GTW) that reflected Gateway was more appropriate for the long-term strategy of our business. If we wanted to implement a multi-branded approach down the line, it gives us more flexibility."