Michael Franzese wealth

I was recently watching an interview with Franzese and based on the money that he was bringing in, he had to have been the richest mobster at that time, no? He was making millions of dollars a week. You think that’s more than Gotti, Castellano and everybody else was making? I understand that Carmine Lombardozzi, Jerry Catena etc. were great earners as well but were they or others making money like that?

Didn't Gravano state that Gotti was prob making between 5 and 6 million a year as boss?

If Franzese is to be beleved he was making that a week.

There must have been high costs involved in the operation plus paying staff/ underlings and his kick upstairs to the administration

But yes, he most likely was the wealthiest mobster easily surpassing Gotti and Paulie. Big Paul was getting kickbacks from construction interests but don’t forget he only received a percentage. I’m sure his businesses made a lot of money too. Gotti was by no means wealthy. Yes he had money but as Sammy estimated several million a year. Out of that he also had to put aside for the war chest ie paying off lawyer fees for members

Not to mention Gotti was no Paulie in that he didn’t demand a huge cut and as Mikey Scars if his testimony was to be believe- gave Joe Watts and Johnny G “carte blanc” over Big apple.

If he was really making something like $6 mil a week he has to have been the richest at the time. We can't know for sure, but even with all the other big money schemes going on and tribute they received I'd guess he was making more than the bosses. Even if he was giving Persico $2 mil a week.

And if he was giving Persico $2 mil a week, do you think that would bump Persico up to the richest boss at the time?

Really not sure. I would assume so but I feel like the genovese and gambino family had more clout. Maybe they had earners who made money like Franzese that we didn’t really know about. Lombardozzi had a lot of money apparently like I said. Same with Catena and Casso too I believe. I wonder if they were making money like a lot of the drug dealers at that time if not more.
Also, I’m surprised Franseze wasn’t more revered like Gotti and others were if he was making more money than at least mostly everybody

I believe this is what led to the meeting when Michael feared for his life....Money equals power in the life AND his father was Underboss.....I seriously don't doubt that Carmine scared the sh*t out of Sonny before speaking to Michael.... It basically sounded like the same dilemma that Scarfo had to confront....Chuckie, Lawrence and Joey could have made a move if they wanted to...I don't believe they were out earning Scarfo like Franzese but members that climb the ladder are always a threat.

Look what he did to Salvie......Salvie was a good earner and didn't deserve to die.

I believe Michael bought his way out of the life and NO ONE can convince me otherwise.

Happy to see that it appears Michael is in a good place and seems to be making progress on changing his father's thinking.

It’s hard to believe that some capos used to make more than their bosses but it might’ve happened in some cases.

Yes--IF he is to be believed. I've seen that Franzese segment several times and heard his story about the gas tax racket. No doubt it was very lucrative, but exaggeration is always good for the exaggerator's TV ratings. And, even if it did pull in millions/week, it had to be whacked up with the Russkies and their bosses, as well as Franzese's hierarchy.

While we're on the subject of exaggeration: Much as I admire Joe Pistone's skills and courage in infiltrating the Bonannos, I never believed his story about the Commission putting a half-million dollar price on his head. The Commission doesn't have a war chest and a standing army to eliminate law enforcement officers (or anyone else). And, the only thing Dons have in common is greed, and distrust of each other. Why would any Dons contribute a dime to avenge a dumb-ass mistake made by the Bonnanos?

Dead on and just after Franzese went away there was not huge amount of cash flowing around Carmine Allie and Teddy’s legal financial interests.

Now don’t get me wrong as far as what the regular person or persons could tell they were doing well and were adding property and building on those property’s.

It was not five years till they started to show signs of not keeping what they had to a very high standard and this included getting rid of livestock and people that would take care of them.

Of course you would not see them not buying nice cars etc but the other stuff started to go and yes I know Carmine went away but if you are sitting on 75 million you are keeping your precious racing horses and other things that they had on the fringes for years.

When lil Allie boy got hit with the last pinch he had to sell things he would of never sold if they had 75 million in the chest .

Don’t get me wrong people in that life clam bankrupt all the time to look poor but it was more them that they almost lost the farm a couple of times .

Now I know there is money because all of a sudden things get paid and lawyers get there money and they are building real estate and rental units on it by the city block with Michael away and they always come out ahead.

But like Turnbull said it’s all exaggerated !

Most spend money like a drunkin Sailor on leave..The Smart ones save it for a bad day or nice Vacation..Even a somewhat legit business.

It would be something to know how much some of these guys were really making. Many of them considered themselves businessmen but were they making money like some of the top businessmen in the country? Who knows? It seems as the bosses in Italy(Especially the Ndrangheta) were/are but that’s a totally different subject. And since money=power, was Frank Matthews more powerful than the mafia bosses assuming that he had more money.

Very well could be an exaggeration. He said he was giving $2 mill up the ladder and keeping most of the rest. I wouldn’t be surprised if he really was making that much money. Franzese said their were really only a handful of people who were really making serious money. Not sure if he meant just in the Colombo family or in all of the 5 families.

Some guy joe glitz was the genovese point man on the gas scam. Some queens guy close to gotti oh tony pep was there guy. Like u said casso was luchese. I think all the other familys became involved with the gas scam after michael was indicted in 85. There like wow this colombo guy was making millions. Call a commission meeting so we can plot how to split the racket. Carmine persico was probaly keeping Michael s earnings from all the other bosses that was his cash cow. Read somewhere christy tic was invloved in the beginning probaly kept all the money for him and tony ducks then they go to jail casso takes it.

If that’s the case then Christy probably made money like Franzese but he stayed under the radar. Were there any other big time rackets that netted the mob as much money as the gas racket?

I give it to michael he probably was the first one in on the gas scam what did it start in 1980ish. With some russian who knew the whole racket ins an outs. I think a rival russian went to christy tics 19th hole and got put under him. But michael had control of that scam and big paul who probaly was the boss with the most members wasnt getting a taste of it. Does anyone remeber big paul or sammy the bull talking about it. Demeo was still alive chopping people up and they really started the concrete club around 1980 rite. I just seen a mike franzese interview on worldstarhiphop. He'll talk to anyone with a show.

Seems so. He really does appear to be a good guy now from the interviews I’ve seen of him so I’m not judging him.

And that’s a good point I am surprised that the Gambino’s or Genovese’s didn’t muscle in on that being that they were reportedly more powerful than every other family

I was just reading about the Ndrangheta and that could be a thread in itself. They have to be the richest criminal organization out there. I know Mexico gets a lot of attention and rightfully so because crime is terrible there but I wonder if they compare to the ndrangheta or the Sicilian mafia and camora

He was one of the riches made members for his time. It is hard to give a definite answer on his much the gas tax scam made, but at least a little over one million a week at its peak which had to be divided between those involved. I would not be surprised if he contributed a nice chunk of his stash money to law enforcement when he left the life.

Makes you wonder how much the bosses were making if some of the soldiers and capos were making possibly millions of dollars a month. And Franzese said he was giving Persico around $2 mill a week while they had the operation up and running. I haven’t really seen anybody call him out on the numbers when he says they were taking in anywhere from 4-10 mill a week from his portion of the operation. I know Casso and Furnari had their own gas operation going as well but maybe because they might’ve came in a little later than Franzese, they weren’t making as much from it as him. But either way, they all had operations outside of the gas business that I’m sure netted them a significant amount of income on top of the cash flow from the gasoline racket. Casso said in his 60 minutes interview that he would make $5 mill a year from the garmet district alone. If anyone has the link to the full 60 minutes interview of Casso then feel free to put it in here would love to see it.