How Much Money Did Michael Franzese Make? The Shocking Truth

Okay, let’s break down Michael Franzese’s earnings and add some context to his reported wealth.

According to Fortune Magazine in 1986, Michael Franzese was listed as number 18 on their list of the “Fifty Most Wealthy and Powerful Mafia Bosses.” At that time, he was 35 years old. Franzese claimed that at the peak of his career, he earned $8 million per week.

How Did He Make So Much Money?

Michael Franzese was a high-ranking member of the Colombo crime family. His earnings came from a variety of illegal activities, including:

Gasoline Rackets: Franzese ran a large-scale gasoline racket, which involved selling stolen gasoline and tax evasion.
Extortion and Loan Sharking: He also engaged in extortion and loan sharking, which brought in significant income.
Illegal Gambling: Franzese’s organized crime activities extended to illegal gambling operations.

A Note on Franzese’s Wealth Claims:

It’s important to remember that Franzese’s claim of earning $8 million per week is based on his own statements. While he was a prominent figure in organized crime, it’s difficult to verify the exact amount of money he made.

A Few Additional Points:

The Power of the Mafia: The fact that Franzese was ranked among the “Fifty Most Wealthy and Powerful Mafia Bosses” by Fortune Magazine highlights the enormous wealth and influence that organized crime wielded in the 1980s.
The Impact of Law Enforcement: Franzese eventually went to prison for his crimes. His rise and fall illustrate the constant struggle between law enforcement and organized crime.
The Legacy of Michael Franzese: Franzese’s story is a cautionary tale about the allure of easy money and the dangers of a life of crime.