We really don't know much (If anything.) about him, do we? Obadiah Stane we DID get an origin for, and we did understand what made him tick. I personally think that he was better than Hammer (And ruined Tony's life more.) because when you really think about it, Hammer was just kind of there and more of a plot device (The whole bankrolling villains thing.). I remember his daughter Justine (Doesn't he have another daughter?) getting an origin story in The Thunderbolts. I forgot, who was the mother again? Actually, when was the last time that we saw Justine? Has she been seen since Secret Wars? Thanks.
It's actually kind of amazing that they've managed to go over fifty, indeed almost sixty, years without giving his villains the sort of depth that most Batman villains, and even most Flash villains, have. You'd think they'd give some villains some depth by sheer accident in all that time. Somehow the bat-books manage to flesh out Batman's relationship with Alfred and the Robins while also making the villains fleshed out characters who can carry their own mini-series. Penguin: Pain and Prejudice is still one of my favorite stories, and that starred the friggin' Penguin. Meanwhile Iron Man has done so much pointless meandering and had so many restarts that ignored the meandering before that restart that it's somehow managed to go nearly sixty years without much of anything happening.