Billionaire Andy Beal In Another High Stakes Poker BattleDecember 10, 2010 11:39 am
In the poker world, billionaire and richest man in Dallas Andy Beal is famous for having taken on a syndicate of poker pros known as “The Corporation”, in a series of ultra high stakes heads-up poker games between 2001 and 2006.
Now Beal, 58, is involved in a game of high stakes poker, this time with his wife who is filing for divorce and “seeking $5 billion in damages and asking that exemplary damages be awarded to the tune of $15 billion.”
When the Texas-based billionaire took on “The Corporation,” part of his plan involved raising the table stakes so high as to take his poker opponent’s out of their comfort zones thereby affecting the standard of their play.
Then, Beal whose net worth is estimated by Forbes as $6 billion was never really concerned at what he might have lost as it was unlikely to even scratch the surface of his vast fortune.
The stakes now, however, couldn’t be higher as the married couple of 14 years with four children now battle it out to reach some kind of equitable arrangement. Andy Beal’s lawyer Rod Phelan summed thing up when he stated recently:
“At bottom, this case is a divorce case. The issue is about money.”
Simona Beal has already made damming allegations against her husband as their battle continues, which Andy Beal tried to counter by stating
“I have been faithful to my wife throughout our marriage..Wild claims like this are made only after threats and demands fail. My wife’s lawyer filed this case after we rejected his demands in the divorce case. We will not succumb to blackmail or extortion.”
In the past, Maths genius Andy Beal famously took on “The Corporation” , which included such players as Doyle Brunson, Chip Reese, Phil Ivey, Barry Greenstein, Chau Giang, and many others.
Between February 12–15th, 2006, Beal cleaned out the “The Corporation” after winning their entire stake and walking away with $13.6 million from his specified $50,000/$100,000 Limit Texas hold ’em heads up encounter.
However, that wasn’t the end of that as the game resumed a week later, this time with Phil Ivey representing the syndicate of pros. Over the next three days, Beal proceeded to lose $16.6 million to Ivey before leaving the game and promising to quit poker forever.
That was indeed the last time Beal faced “The Corporation” but the money he lost then now seems quite trivial compared to what his divorce settlement to Simona Beal could end up costing him.