Born in New Haven, Connecticut on July 6, 1946 to George Bush sr. and Barbara Bush, GWB was the oldest of six. He grew up in Midland, Texas and attended Philips Andover Academy in Massachusetts, and later Yale. He graduated from Yale in 1968 with a B.A. in History then joined the Texas Air National Guard and became a lieutenant.
In 1972 he entered Harvard Business School, and received his M.B.A. in 1975.
In 1977 he formed an oil business (Arbusto Corp., later renamed Bush Exploration) and that same year he married Laura Welch. After declining oil prices hurt the company GWB accepted a merger with Spectrum 7 and became chairman of the company.
In 1978 he unsuccessfully ran for Congress. After failing he distanced himself from his father more, politically.
In 1986 oil prices dropped dramatically and GWB managed to sell Spectrum to Harken Energy and later sold his stock shares for a nice profit.
In 1986 GWB joined the Methodist faith (like his wife), stopped drinking, and when his father decided to run for President two years later GWB moved to Washington DC and helped with the election campaign. Shortly after the 1988 election GWB moved back to Texas (Dallas this time) where he organized a group of investors, which purchased the Texas Rangers (pro baseball team) and got quite famous throughout Texas as the team's managing partner.
In 1994 GWB ran for Governor of Texas and won by ~350,000 votes. In 1998 he was re-elected for another term (and sold the baseball team for a cool $15mill profit, too).
In June 1999 GWB announced his intention to run for President in 2000. He's said that if elected he'll lower taxes, fix Social Security, uphold the death penalty, build the SDI, and so on. He's a Republican, calling himself the "compassionate conservative".
Now he's President of the United States of America.
Sources: biography.com and issues2000.org