Frank Costello's Net Worth: A Journey Through His Underworld Empire
Frank Costello, an influential Italian American Mafia gangster and crime boss, amassed a net worth equivalent to $1 billion at the time of his death in 1973 (adjusting for inflation). His life was marked by the establishment and operation of one of the most prosperous and powerful criminal organizations in history. At its peak, Costello's illicit empire generated an astonishing $60 billion in annual revenue (adjusted for inflation).
A Glimpse Into Frank Costello's Early Life
Frank Costello, born as Francesco Castiglia in Cassano allo Ionio, Calabria, Italy, in January 1891, immigrated to the United States in 1895. Settling in East Harlem, New York, he was introduced to gang activities at a young age. His formative years saw him aligning himself with various criminal enterprises, laying the foundation for his future infamy.
The Rise to Power
Costello's association with the notorious Morello gang and his partnership with Charlie "Lucky" Luciano were pivotal in his ascent within the criminal underworld. By the mid-20th century, Costello had taken the reins of the Luciano crime family, later known as the Genovese crime family, one of New York City's notorious Five Families. His ability to blend ruthless criminal activities with political influence earned him the moniker "The Prime Minister of the Underworld."
The Pinnacle of Influence
Frank Costello's leadership extended beyond traditional criminal endeavors. He wielded significant political influence, shaping decisions that benefitted his operations. His gambling empire thrived, further bolstering his wealth and status within and beyond the criminal world.
Legal Challenges and Decline
Despite his influence, Costello faced numerous legal challenges. In 1961, the United States Supreme Court upheld a decision that revoked his U.S. citizenship, although it set aside a deportation order. These legal battles marked the beginning of the decline of his power and influence.
Frank Costello's Final Years
Frank Costello passed away on February 18, 1973, at the age of 82, succumbing to a heart attack. His life story remains a testament to his profound impact on organized crime in America, an enduring legacy of power, intrigue, and influence.
