Michael Franzese, an American former mobster and captain of the Colombo crime family, has an estimated net worth of $1 million. Born in Brooklyn, New York in May 1951, he is known for his involvement in gasoline bootlegging rackets, partnering with Russian Mafia, and his ranking as #18 on Fortune Magazine’s Fifty Most Wealthy and Powerful Mafia Bosses in 1986.
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Summary of Michael Franzese Net Worth
| Net Worth: | $1 Million |
|---|---|
| Date of Birth: | May 27, 1951 (72 years old) |
| Profession: | Boss, Film Producer |
| Nationality: | United States of America |
Michael Franzese Net Worth
Michael Franzese amassed his wealth through a range of illegal activities as a member of the Colombo crime family. His earnings peaked in the 1980s when he was making an estimated $700,000 per week. In addition to his criminal activities, he has also earned income as a film producer and motivational speaker.
You are reading: What is Michael Franzese’s Net Worth? Discover the Wealth of a Former Mob Boss
“MEAN STREETS!” DeNiro’s performance…. ELECTRIC!!! pic.twitter.com/PUG8oIH1pt
— Michael Franzese (@MichaelFranzese) October 2, 2023
Early Life and Entry into Crime
Michael Franzese was born to reputed Colombo underboss John “Sonny” Franzese. He dropped out of college to join the family business, quickly rising through the ranks to become a captain.
Criminal Activities and Earnings
Through his gasoline bootlegging rackets and partnerships with the Russian Mafia, Franzese was able to make millions of dollars per week. He was also involved in a variety of businesses including car dealerships, auto repair shops, and movie production companies.
Legal Troubles and Incarceration
Franzese was indicted on 14 counts of racketeering, counterfeiting, and extortion in 1986 and was sentenced to 10 years in prison and $14 million in restitution. He decided to leave the Colombo family in 1989 and was released the same year.
Life After Crime
Since leaving the mob, Franzese has reinvented himself as a motivational speaker and author. His autobiography, Quitting the Mob, was published in 1992. He is also the founder and chairman of the Breaking Out Foundation.
Current Net Worth
Despite his past wealth, Franzese’s current net worth stands at $1 million. This income is derived from his work as a speaker, author, and film producer.
Conclusion
From his notorious past as a mobster to his current status as a speaker and author, Michael Franzese’s life story is nothing short of fascinating. While his net worth is significantly less than his peak earnings as a criminal, he has managed to reinvent himself and maintain a steady income.
FAQ
- Who is Michael Franzese? Michael Franzese is a former mobster and captain of the Colombo crime family.
- What is Michael Franzese’s net worth? Michael Franzese’s net worth is estimated to be $1 million.
- How did Michael Franzese earn his wealth? Franzese earned his wealth through various criminal activities, including gasoline bootlegging rackets and partnerships with the Russian Mafia.
- What is Michael Franzese doing now? Michael Franzese is currently a motivational speaker, author, and film producer.
- What is the Breaking Out Foundation? The Breaking Out Foundation is an organization founded by Michael Franzese that focuses on helping people break free from addictive behaviors.
Source: https://predictgov.com
Category: Net Worth
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