The company began on Waitt's father's cattle ranch in Sioux City, Iowa, 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 printed in a black and white Holstein cow pattern.
[7] Labeled a maverick by national business and technology publications,[8] he has gone on to form four 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 Foundation, Waitt Institute and Waitt Institute for Violence Prevention, nonprofit organizations dedicated to the improvement of mankind's knowledge through historical and scientific exploration.
He originally joined the Salk Board of Trustees in 2004 and has served in numerous roles while donating millions of dollars to the institute.
The Waitt Institute is a founding member, along with National Geographic Pristine Seas, Oceans 5, and Dynamic Planet, of the Blue Prosperity Coalition[16] which aims to support governments in sustainable oceans management by providing financing, expertise, and tools to create marine protected areas (MPA).
On November 1, 2019, the Blue Prosperity Coalition announced a ten-year, $150 million commitment from the Waitt Foundation towards its ocean conservation efforts.
[17] On 15 Sept, 2016, the Waitt Foundation joined with the Wildlife Conservation Society (WSC), the blue moon fund (bmf), and the Global Environmental Facility (GEF) to commit a combined $48 million towards expansion of the world's marine protected areas (MPA).
[18] On 1 May 2008, the Salk Institute for Biological Studies announced[19] the grant of $20 million from the Waitt Foundation to fund the creation of an Advanced Biophotonics Center.