Frank Costello Net Worth

May 2024 · 3 minute read

Table of Contents

Frank Costello Net Worth: From Gangster to Multimillionaire

Net WorthSalaryBirthdateBirthplaceGenderHeightProfessionNationality
$1 billion (inflation-adjusted)N/AJanuary 1891Cassano allo Ionio, Calabria, ItalyMaleN/AMafia gangster, crime bossItalian American

Highlights

Frank Costello, also known as “The Prime Minister of the Underworld,” was an Italian American Mafia gangster and crime boss. At the time of his death in 1973, his net worth was estimated to be $1 billion in today’s dollars. Costello led the Luciano crime family, which later became known as the Genovese crime family. He built a powerful criminal organization and controlled a vast gambling empire, accumulating massive wealth in the process.

Early Life

Born in Cassano allo Ionio, Calabria, Italy, in January 1891, Frank Costello emigrated to the United States in 1895. Raised in a tough environment, he was exposed to gang activities from a young age. Costello worked for the Morello gang, where he formed a strong bond with Charlie “Lucky” Luciano, laying the foundation for a prosperous and enduring partnership.

Career

Frank Costello rose to prominence in organized crime, becoming one of the most influential figures in American history. He controlled a vast gambling empire and held significant political influence. Costello’s criminal operations generated an astonishing $60 billion (inflation-adjusted) in revenue at the peak of his success.

Leading the Luciano crime family, Costello expanded its operations across New York City. The family was part of the notorious Five Families, dominating the city’s criminal underworld. Costello’s influence extended to the highest echelons of power, earning him the nickname “The Prime Minister of the Underworld.”

Despite his criminal activities, Costello never shied away from keeping a low profile. He preferred to operate subtly, avoiding unnecessary attention from law enforcement. His calculated approach to organized crime contributed to his continued success and immense wealth.

Personal Life

Frank Costello’s personal life was largely shielded from the public eye. However, it is known that he passed away on February 18, 1973, at the age of 82, due to a heart attack. His death marked the end of an era in American organized crime.

Net Worth Over Time

Throughout his life, Frank Costello accumulated a staggering net worth of $1 billion (adjusted for inflation). His wealth was primarily derived from his involvement in organized crime, including the operation of illegal gambling enterprises. Costello’s illicit empire brought him immense riches and allowed him to maintain extravagant lifestyles.

Components of Net Worth

The significant components contributing to Frank Costello’s net worth were his vast gambling empire and various illicit business ventures. His criminal organization generated substantial revenue, estimated to be around $60 billion (inflation-adjusted) at the height of his power. Additionally, Costello’s political influence and connections in the criminal underworld further bolstered his financial position.

It is essential to note that all net worth figures are based on estimates drawn from public sources. While every effort is made to ensure accuracy, these figures may only serve as approximations.

In conclusion, Frank Costello, the Italian American Mafia gangster and crime boss, left behind a net worth of $1 billion (inflation-adjusted) upon his death in 1973. His rise to the top of organized crime in America, control over a vast gambling empire, and significant wealth highlight his enduring legacy in criminal history. Despite legal troubles and challenges, Costello’s net worth remained a testament to the immense power and influence he wielded during his lifetime.

ncG1vNJzZmimkaLAsHnGnqVnm59kr627xmidq5meoHqku9KtnKWkn2K7psCMsKarrJhk