BUSINESSWEEK ONLINE : JUNE 5, 2000 ISSUE
BUSINESS WEEK E.BIZ -- COVER STORY Theodore W. Waitt Born Jan. 18, 1963, in Sioux City, Iowa. Education Dropped out of the University of Iowa in 1984 to join a computer retailer in Des Moines. Career Waitt and friend Mike Hammond started Gateway 2000 in Sioux City, backed by a $10,000 loan. Started assembling PCs in 1986. Went public in 1993 with $1 billion in sales. This year, Waitt gave up the CEO role to Jeffrey Weitzen, remaining chairman and chief visionary. Family Married, four children (three daughters, one son). Why he left the Midwest Waitt moved the company to La Jolla, Calif., two years ago to help attract top-flight executives. He also loves the sunny California weather. Basic transportation A silver BMW M5 with sunroof; Gulfstream jet. Why he wears a ponytail ''It comes from a rebellious streak I'll probably always have, and because I could. If I ever write a book, I may call it It's Just a Haircut.'' Outside interests Favorite band is hard rocker Elwood. Among his friends are Chris Blackwell, the record producer who discovered Bob Marley and set up Island Records. He's invested in music-related start-ups including MP3.com, Listen.com, and Launch.com. ''Music over the Internet will be the first wave of convergence.'' Bridging the Digital Divide He has donated about $450 million to a foundation that aims to put PCs in the hands of people who can't afford them. ''The digital divide is very real. In this country, it's a chasm. On a global basis, it's the Grand Canyon.'' On giving away money ''What the hell else am I going to do with it? Nobody needs $10 billion. Really.'' _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP					RELATED ITEMS Gateway's Big Gamble TABLE: The PC Maker for the Internet Generation RESUME: Theodore W. Waitt Weitzen Country INTERACT E-Mail to Business Week Online

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