Woman Beaten Into Coma During Violent Break-In at Beanie Babies Billionaire Ty Warner's Montecito Mansion

A 60-year-old woman is in a coma after being brutally attacked during a violent break-in at the Montecito mansion of Ty Warner, the billionaire founder of Beanie Babies. The extremely bizarre incident took place on the afternoon of May 21, 2025, at Warner's secluded estate in one of California's wealthiest enclaves.

According to charging documents and law enforcement reports, which were just made public, the suspect, 42-year-old Russell Maxwell Phay of Henderson, Nevada, broke into the property, claimed it was his home, and assaulted the woman so severely that she was found comatose from a brain injury. Authorities later identified the victim as Linda Malek-Aslanian, a longtime financial services executive who previously worked as an asset manager for Ty Warner Hotels & Resorts.

Warner, who is notoriously private and rarely seen in public, was reportedly inside the home during the attack but was not harmed. It is unclear if Warner and the suspect were ever in the same room.

A Bizarre Standoff and Tactical Response

Malek-Aslanian's LinkedIn profile and financial records indicate she currently works as an advisor at NYLIFE Securities and previously held a senior role at Warner's hotel company from 2004 to 2015.

When sheriff's deputies arrived at the scene, they found Malek-Aslanian outside the residence, barely conscious. Meanwhile, Phay had barricaded himself inside a second-floor bathroom. Law enforcement initially feared a possible hostage situation, prompting a dramatic response that included a helicopter, K-9 units, crisis negotiators, and a BearCat armored vehicle.

After refusing to surrender, Phay attempted to escape by jumping from a second-story window, where he was quickly subdued by the sheriff's dogs and arrested.

via Santa Barbara Sheriff's Office

A Violent History

Phay has been charged with first-degree attempted murder, kidnapping, residential burglary, assault with force likely to cause great bodily injury, and resisting arrest. He is being held at the Santa Barbara County Jail on $1 million bail. Phay pleaded not guilty at his first court appearance. A preliminary hearing is scheduled for June 3.

Santa Barbara County District Attorney John Savrnoch described Phay as a serious threat to public safety and added special allegations to the case, citing his violent criminal history and poor performance while under parole and probation supervision. Phay stands six feet three and weighs approximately 250 pounds. Prosecutors allege that although no weapon was used, the assault was premeditated and carried out with extreme force.

This is not Phay's first brush with the law. He was previously featured in a San Francisco Chronicle column about a special court that had been arranged for military veterans. According to the Chronicle, Phay served in the military nearly two decades ago and was once slated for deployment to Kuwait. After his discharge, he was jailed for violently attacking his wife when she tried to leave with their child. He has also faced multiple other incidents involving battery and assault, including an arrest for attacking women aboard a bus in Mt. Shasta after claiming someone stole his tools.

At various points, Phay was eligible for diversion programs designed for veterans with mental health challenges, but prosecutors say his offenses have grown more frequent and more severe over time.

Ty Warner (Via Getty)

Beanie Babies & Luxury Hotels

Ty Warner made his first fortune in the 1990s thanks to his invention, Beanie Babies, one of the most successful toy crazes of all time. At the height of the Beanie Babies' popularity, Ty Inc. was profiting $700 million per year on $1.4 billion in gross revenue. Ty privately owned 100% of the company.

Today, Ty Warner's net worth is $6 billion. But there's a caveat: He didn't earn a $6 billion net worth exclusively from Beanie Babies. He earned it by turning plush toys into plush real estate.

In 1999, Warner made his first major move into the luxury hospitality space by purchasing the Four Seasons Hotel New York for $275 million. He later spent $120 million renovating the property and continues to own it outright—an unusually rare arrangement in the Four Seasons portfolio. Though the hotel has remained closed since 2020 due to management disputes and renovations, it has been valued at over $1 billion.

Using his Beanie Babies dividends, Warner quietly built one of the most valuable collections of luxury hotels and resorts in the world, all of which he owns privately. His known acquisitions include:

• Four Seasons Hotel New York – Purchased in 1999 for $275 million
• Las Ventanas al Paraíso, Los Cabos, Mexico – Acquired in 2004 for an undisclosed sum
• Four Seasons Resort The Biltmore Santa Barbara – Purchased in 2000 for $150 million
• San Ysidro Ranch, Montecito, California – Purchased in 2000 for $150 million
• Four Seasons Resort Hualalai, Kona, Hawaii – Acquired a stake in the early 2000s; later took full control

Warner's holdings are among the most prestigious in the global hospitality market, with some properties known for hosting presidents, royalty, and Hollywood elites. All of it stems from a fortune built one Beanie Baby at a time.