- "We can help you. We have excellent health insurance. The best."
- ―Elliott offering Walt help against his cancer.
During college, Elliott, his wife Gretchen, and Walt collaborated on the scientific research that led to Elliott's Nobel Prize and thriving business, Gray Matter. But by the time their business achieved success, Walt — as Gretchen describes it — had "abandoned me and Elliott." Walt sees things differently, he believes Elliott and Gretchen stole his research and made millions out of it, leaving Walt with nothing. This is later confirmed to be completely false as the reason why Walt left them was due to feelings of inferiority to Gretchen's wealthy family.
Walt and Skyler White are invited to Elliott's birthday celebration. At the party, Walt sees Skyler and Elliott deep in conversation. Moments later, Elliott offers Walt a job, mentioning that the health insurance is excellent. Walt whisks Skyler out of the party and accuses her of putting Elliott up to providing charity: When Walt turned down the job offer, Elliott offered to pay for his treatment outright which Walt refuses. ("Gray Matter")
Walt lies to Skyler and says that Elliott is indeed paying for his cancer treatments though in fact Walt's drug profits are financing it. His deception goes undetected until Skyler, who calls Gretchen trying to figure out why Walt had a second cell phone, learns that Elliott contributed nothing. ("ABQ")
After his criminal identity is exposed and he is on the run, Walt stumbles upon Gretchen and Elliott being interviewed by Charlie Rose on the television. Rose asks if they made a $28 million to fund drug rehab clinics donation to make amends for "your association with Walter White," who helped start their very successful and profitable technology company, now worth over $2 billion. Both claim that Walt has not been associated with Gray Matter since its earliest days. When asked what Walt's contribution to the company was, Elliott untruthfully says that it was "essentially nothing." Gretchen agrees, saying the only thing Walt contributed was the company name though the two are only making these false claims to protect their company's reputation and do not want anything to do with a meth kingpin. ("Granite State")
Elliott and Gretchen come home to their luxurious country residence after the interview and are surprised by an unexpected visitor awaiting them: Walter White. He gives them a pile of money worth $9.72 million and tell them to give it to Walter Jr. on his 18th birthday in ten months. Gretchen scoffs, saying that it would make no sense for them to give Walt's family all that money for no reason, but Walt explains that they're already giving millions to help recovering addicts and it would make total sense for them to support his son because of his "monstrous father." Walt finishes his visit threatening the couple, saying that he hired two assassins that will keep tabs and will kill both of them in case they don't give Walter Jr. the money though the assassins were only Badger and Skinny Pete posing as assassins. ("Felina")
- Elliott is portrayed by the English actor Adam Godley, who effected an American accent for the role.
- 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.
- Even though he is mentioned numerous times during the run of the series, Elliott has only three physical appearences in episodes.