Ty Stone and Tony Stark were childhood friends, though they often competed when it came to sports, girls and grades. Their parents were business rivals and Tony’s father, Howard Stark, eventually drove Stone to the verge of bankruptcy. Years later Tiberius returned from Europe where he had been hiding for years, planning on returning the day he was richer than Tony Stark. It has since been revealed that most of Tony's current problems have been due to Tiberius Stone, Tiberius even stole Tony's girlfriend Rumiko Fujikawa.
Later, he was an agent of the Kingpin working at Horizon Labs to give him the schematics for the Spider-Sense jammers (a device to nullify the Spider-Man's Spider Sense). During this period, he sabotaged an energy experiment of Peter Parker, inadvertently creating Alpha.
Tiberius Stone's acts of sabotage led to to the actual destruction of Horizon Labs. This in turn led to the rise of Alchemax, a new mega-corp founded by Liz Allan. During this arc, it was revealed that he is the father of future Alchemax head Tyler Stone (and the grandfather of Spider-Man 2099).
Tiberius Stone made his first debut in comics in Iron Man vol. 3 #37 in February 2001. Created by Frank Tieri and Alitha Martínez.