Elliott Schwartz is Walter White's old college science partner and co-owner of Gray Matter Technologies, a successful pharmaceutical company co-founded by Walter. Gretchen Schwartz, a former romantic interest of Walt, is Elliott's partner in the business and is his wife. Walter blames Elliott and Gretchen for stealing his research and becoming millionaires in the process, although the exact truth of this claim is unknown. Elliott offers to pay for Walter's treatment. Walter declines, but tells Skyler White he has accepted ("Gray Matter").
The name of his business, Gray Matter, is a play on the last names "White" and "Schwartz"--a variant of schwarz, which means "black" in German.
- Elliott is portrayed by the English actor Adam Godley, who effected an American accent for the role.