Bruce A. Beal is Chairman of Related Beal. He has had extensive involvement in all phases of property development and is the fourth generation of the Beal family to run the company, founded in 1878. Join us to learn the facts about his business ventures and wealth.
Introduction
Bruce A. Beal, Jr. is the president of Related Companies, the privately-held, New York City-based developer and landlord that owns and manages $20 billion worth of real estate across the country.
Beal joined the company in 1995. He is the youngest family member of a Boston family that owns an over-century-old development firm in that city. Collaboration between Related and that firm was formalized into a partnership in 2013.
Beal is a trustee for the Citizens Budget Commission and New York-Presbyterian Hospital. He also serves on the Board of Directors of the Community Preservation Corporation, the Advisory Board of Harvard University’s Taubman Center for State and Local Government, and REBNYs Executive Committee, Board of Governors, and Housing Committee.
Beal graduated from Harvard University with a BA.
Beal has acted as an adviser on real estate matters to the President and Fellows of Harvard University (The Corporation) for over 25 years.
During this period, he expanded Harvard University’s holdings in Boston by assembling over 250 acres to ensure the expansion of the University. He introduced the condominium form of ownership to Massachusetts and was asked to assist the United States Government in the reorganization of railroads.
Beal, who feels strongly about lifelong learning, recently completed a Master’s Degree Program in Asian Art History at the School of Oriental and African Studies (SOAS) at London University.
Bruce Beal’s Net Worth
Bruce Beal’s exact net worth is revealed officially yet.
However, he leads a company with more than $15 billion in real estate.
So we assume that Beal has an estimated net worth to be around $1 billion.
A primary contributor to the Beal wealth is real estate development, they are one of the biggest firms that have operations in every part of the United States.
He is responsible for overseeing the day-to-day development process for projects across all asset classes throughout the country, including acquisition, finance, and construction activities.
Beal is also the vice chairman of the NFL team Miami Dolphins.
Career Highlights
Beal has served as a Trustee of The Boston Museum of Fine Arts, as well as Trustee and Overseer of the Boston Symphony Orchestra, The Harvard Art Museums, The Harvard School of Public Health, and several other Boston cultural, educational, and medical institutions.
He also serves as a Trustee of The Marine Biology Laboratory in Woods Hole, Massachusetts, a Trustee of The Palm Beach Cultural Council, a Trustee and a Member of the Executive Committee of The Norton Museum of Art in West Palm Beach, Florida, a Trustee and Member of The Executive Committee of Rollins College in Winter Park, Florida.
He has served as a Tweedy Brown Mutual Funds Director for over 25 years.
Beal is involved in all aspects of the company but has made a special mark in Related’s residential efforts. Related is one of the city’s largest builders of affordable housing, and he often meets with city officials, advocates, and financiers to bulk up the city’s stock.
In one of his earliest efforts for the firm, he managed the purchase of a struggling condo project on the far West Side and helped transform it into affordable housing for AIDS patients, the elderly, and low-income individuals.
More recently, he oversaw the construction of an affordable cooperative project in Harlem.
“Bruce is very smart, very focused, and fabulous with numbers and concepts,” says Alan Wiener, a managing director at Wachovia, which has lent money to Related. “He is committed to preserving affordable housing.”
Bruce Beal: Wife And Family
Bruce Beal married Kathryn Fauss Patton, the daughter of Dr. and Mrs. Richard G. Patton of Seattle, in the year 1999.
Both of them met each other while studying at Harvard University.
They are blessed with two children, and there is not much information available as present about their children.
Bruce Beal Successor To Dolphins Ownership
NFL owners have approved a succession plan for the Miami Dolphins that would give New York businessman Bruce Beal, the right of the first option to purchase the franchise should Stephen Ross, the current owner, pass away or decide to sell, according to the league sources.
The arrangement, which was proposed at the recent NFL owner’s meeting in Boca Raton, Florida, passed when the league’s owners voted on it at that time. It has not been previously disclosed.
The league and its teams generally do not announce such arrangements, but they are not out of the norm, and with ownership situations in Tennessee among those that have become cloudy recently in the aftermath of the demise of the family patriarch, Ross wanted to be proactive in his approach, sources said.
Ross, who turns 76 in May, purchased 50 percent of the Dolphins from Wayne Huizenga in 2008 for $550 million, and in January 2009, he took over complete control of the team.