If you ever sit down at a poker table with Andrew Beal, watch out. That money disappearing into the night might be your own.
Beal, 64, is a billionaire. A math expert and self-made man, he earned his money by investing in real estate, buying run-down houses and apartment buildings and repairing them for resale at a profit, and opening banks in Dallas and Las Vegas.
As I researched his childhood, I had to smile. He would search his neighborhood in Lansing, MI. where he grew up and find old television sets that weren't working. Beal would repair them and then sell the sets. My son Dale, now a physician, was good at repairing TV sets, too. Dale now lives in Kansas City where he practices medicine. I don't think he is a poker player.
Beal's wealth is estimated at nearly $8 billion.
His corporation operates 37 bank branches. He runs hedge funds and a loan acquisition company. And he has played poker for the highest stakes imaginable.
Married twice, he has six children. He is presently unattached.
He won the largest poker hand ever played in a poker game. When Beal raked in the pot, it totaled $11.7 million.
Beal's neighbors in Lansing must have noticed something special about him. He was earning money repairing and selling television sets as a teen and later joined his uncle installing security systems in apartment houses..
Somewhere along the way he caught the poker bug. He started going to Las Vegas and after winning $100,000 decided to find out how good he really was.
Through friends, he sent out open invitations to the world's best poker players and said he wanted to play them. Any stakes would be fine, he added.
At first the poker legends were skeptical. But when Beal persisted, they agreed to take him on. They formed a group called 'The Corporation' and set up games in Las Vegas where the players were given pink $25,000 chips to play in games where the stakes were $25,000-$50,000 and $50,000-$100,000.
Their game at Bobby's Room in the Bellagio attracted some of the best poker players in the world -- Doyle and Todd Brunson, Chip Reese, Phil Ivey, Gus Hanson and others.
Over a relatively short period of time, the billionaire poker player won $13.6 million before heading back to his businesses in Dallas.
The Corporation regrouped, came up with more cash, and invited Beal back for another battle.
This time, they backed Phil Ivey who got lucky and beat the billionaire out of $16 million.
Beal has reportedly lost other millions at poker to actor Toby McGuire and billionaire Alex Cores. His total losses are estimated at around $100 million.
Although Beal doesn't play those kinds of stakes any more, he did make a good bet in backing Donald Trump for President. Today he is one of President Trump's financial advisers.
Author: Geno Lawrenzi Jr.
(Geno Lawrenzi Jr. is an international journalist, magazine author and ghostwriter and poker player who lives in Phoenx, AZ. He has published 2,000 articles in 50 magazines and 125 newspapers. If you want to share a gambling story or book idea with him, send an email to glawrenzi@gmail.com ).
