The patriarch of the Buchanan family, Asa is a self-made billionaire (having purchased his first oil well at age 22) and Chief Executive Officer of Buchanan Enterprises (casually called "B.E." by the family). Born on October 31, 1924, and raised in Texas, Buchanan moves the headquarters of his company to Llanview, Pennsylvania, in 1980 to stay close to his sons. Thought dead by her sons, Asa's first wife Olympia had actually been banished to Europe by Asa after having an affair with Yancy Ralston. Living in Paris as her twin sister Nicole Bonard, Olympia (Taina Elg) surreptitiously arrives in Llanview and attempts to shoot Asa as he marries Samantha Vernon (Julia Montgomery) but is snatched by Asa's nephew Rafe Garretson (Ken Meekler) before she can reveal herself. An escaped Olympia dons a costume and mask identical to Samantha's and reveals herself at the Buchanan Ball. Olympia later falls over a balcony at a lavish costume party, and, on her deathbed, she tells Bo that Asa was not his father.