Probably the only person to ever have actually gotten rich off Beanie Babies isn’t exactly relaxing on piles of money or swimming in his vault of gold coins anytime soon, but Ty Warner, the billionaire of the plush toys did get to escape jail time after a U.S. Court of Appeals upheld the probation sentence handed down to him after he was convicted of tax evasion.
The Curse of the Beanie Babies continues, and it appears that no one is safe from these toys once hailed as the be-all end-all solution to your financial problems: Ty Warner, owner and founder TY, which makes the plush animals, is set to plead guilty to tax evasion after squirreling away millions of dollars in a secret Swiss bank account, says the Justice Department. At least he wasn’t stockpiling Beanie Babies with the hopes of reselling them. [More]
Anyone of an age to remember the Beanie Babies craze that struck in the ’90s can likely recall that oft-repeated phrase: “They’ll be worth more in a couple of years!” And now we all know how that turned out — too many people hoarded too many Beanie Babies, making them a pretty worthless investment. One man has decided to take his family’s unique story of woe and make it into a short documentary about how a $100,000 investment Beanie Babies led to bankruptcy. [More]
Last year, I visited my parents to help clear out the house we had lived in since 1984. One of my more cuddly tasks was to sort the three garbage bags full of Beanie Babies hanging out in the closet of my childhood bedroom. Most of them found new homes in the garage sale, or were donated to charity.