"America's Richest Banker Andy Beal Bets Big on Inflation with Massive Bond Investment"
Andrew Beal, the sole owner and chief of Beal Bank, has made a massive bet on inflation by buying $21.2 billion of Treasury bonds, mostly Treasury inflation-protected securities (TIPS), according to filings with the Federal Deposit Insurance Corporation. Beal Bank's assets have more than quadrupled to $32.6 billion, up from $7.5 billion at the end of 2021, making it the nation's 61st biggest bank. Beal's bet on TIPS is his biggest banking bet since the financial crisis and suggests he believes inflation is here to stay for at least several years.