Andrew Beal is a well-known investor, entrepreneur, banker, and amateur mathematician. Aside from that, he is best known for founding and serving as the chairman of Beal Bank and Beal Bank USA. He is a Republican Party membership. His banks also fund two-yearly scientific and technology events associated with the International Science & Engineering Fair, which he also attended.
What is Andrew Beal’s net worth?
According to the latest information of Forbes, Bloomberg.com & several Sources, the estimated net worth is12.2 Billion.
Early life and Education
Beal was birth in Lansing, Michigan, to a mother who worked for the state government and a father who worked as a mechanical engineer. An older brother and a younger sister are among his siblings.
With the support of his uncle, Beal began making money as a teenager by repairing and reselling secondhand televisions. He also built apartment security systems while in high school. He also founded a company that relocated people and handled rental homes.
Beal was a member of the Lansing Sexton High School debate team and went on to study mathematics at Michigan State University.
To begin investing in real estate, Beal acquired a property in Lansing for USD 6,500 and rented it for $119 per month when he was 19 years old. Beal made a name for himself by buying homes, refurbishing them, and then reselling them.
In 1976, he bid on an apartment complex in Waco, Texas, at a federal property auction in Washington, DC. The amount of his winning bid was $217,500. He sold the building for more than $1 million three years later. In 1976, he enrolled at Baylor University in Waco, Texas, but dropped out to pursue entrepreneurial opportunities.
Beal and a partner paid $25,000 in 1981 for two run-down housing project buildings in Newark, NJ, known as the Brick Towers. They sold the repaired structures to a private purchaser for $3.2 million two years later. Beal established a bank in Dallas in 1988 and another in Las Vegas in 2004. Since then, banks have bought and kept financial assets as the market has improved.
Power generation and infrastructure bonds were issued during the post-Enron California rolling blackouts and energy-deregulation crisis in 2001. Following the terrorist attacks on the United States on September 11, 2001, debt instruments backed by aircraft were created. During the global credit crisis of 2008, commercial and real estate loans were made.
Beal Bank had a return on assets (ROA) of 8.1 in 2008, according to the Federal Financial Institutions Examination Council’s Uniform Bank Performance Report, which was several times higher than insurance savings banks with holdings higher than $1 billion) as a peer group. From 2009 through 2012, Beal Bank outperformed its peers.
They have 37 branch locations and also provide internet banking. Both banks are members of the Federal Deposit Insurance Corporation, which ensures their deposits (FDIC). They offer FDIC-insured deposit products to the general public, including CDs, money market accounts, statement savings accounts, and IRA CD accounts.
Beal founded an aerospace company in 1997 to construct rockets to send communications satellites in orbit as part of a federally approved space privatization trend. Over 200 employees work at Beal Aerospace’s 163,000-square-foot factory in Frisco, Texas, that is developing a three-stage, 200-foot rocket. For the Perot Museum of Nature and Science in Dallas, Beal provided $1 million through Beal Bank. The Dallas Independent School District received more than 200 computers from Beal’s enterprises for student usage.
In mathematics, Beal is self-taught in number theory. He announced a new mathematical hypothesis in 1993 that includes Fermat’s Last Theorem as an analogy. The Beal Conjecture is the name given to his idea. There has yet to be discovered a counterexample to the view.
Beal has personally donated a $1,000,000 prize for its verification or disproof to promote research on the speculation. The American Mathematical Society holds the cash in trust, and the University of North Texas has a website about the Beal Conjecture.
Beal traveled Las Vegas from 2001 through 2004 and played at high poker opposite professional players. Texas Hold them poker with a limit of $100,000 to $200,000 was one of the games. Beal won $11.7 million in one of the highest single hands in poker history on May 13, 2004, at the Las Vegas Bellagio. Michael Craig’s book “The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time” chronicles the games.
Andrew Beal’s Wife
Beal has had two marriages. With his first marriage, he had two children. He married Estonian immigrant Simona Beal in 1996. They are the parents of four children. In 2010, Simona filed for divorce.
If you’re looking for Andrew Beal’s contact information, his office landline number is 1-469-467-5000. We do not have access to the office fax number. Andrew Beal’s WhatsApp number and personal mobile numbers are not available to us.
6000 Legacy Drive Plano, TX 75024 United States.
|Daniel Andrew Beal
|Poker Player, Banker, Businessperson
|68 years old
|In feet: 6.2
In meter: 1.88m
In CM: 188cm
|In Kilograms: 90kg
In Pounds: 185 Ibs
|Wife: Simona Beal
Andrew Beal is the renowned man in the World. He made private banks his name in the USA. Over the past 30 years, Beal, who failed out of both Michigan State University and Baylor University, has subscribed to Forbes as a personal membership.