Ex-mob boss turned motivational speaker, Michael Franzese, lived in secrecy and danger. He made his way up the Colombo crime family, making money illegally. But what does Michael Franzese make now that he’s left that life behind? Let’s take a look at what made him so rich – both in the mob and after his transformation.
Early Life and Education
Born Michael Montagliano in Brooklyn, New York, in 1951, Michael Franzese’s life was a direct link to organized crime. His biological father remains a matter of speculation but John “Sonny” Franzese was adopted by the Colombo crime family underboss.
Details on his formal schooling beyond high school are scarce. The pressure to emulate his father probably eclipsed any academic ambitions. Michael later became involved in the mafia and “family business” from a young age. He saw the violence, intimidation and bloody pursuit of power firsthand. This unconventional upbringing moulded him into a senior member of the Colombo crime family.
Net Worth
Michael Franzese, whose net worth is estimated at around USD 10 million today, built wealth over a long process.
Factors That Contribute to His Net Worth
Here are the factors that contributed to his net worth:
Illegal Activity Profits (During Time in the Mob)
The illegal activities were the foundation of Michael Franzese’s wealth during his time with the Colombo crime family. His gas tax bootlegging scheme generated millions of dollars a week. While specifics are unavailable, top mob members often receive a cut of the profits of illegal operations. This illicit income undoubtedly contributed to Michael Franzese’s financial resources at this time.
Luxury Lifestyle – While in the Mob
The illegal earnings supported a posh lifestyle for Michael Franzese. Buying cars, designer clothes and vacations was his vice. Such expenditures likely drained much of his income.
Government Seizure of Assets during His Time in the Mob
Law enforcement does not look away from mob activity. While with the Colombo crime family, Michael Franzese was sued. Maybe authorities seized assets or frozen bank accounts tied to illegal activities. These actions probably cut his net worth.
Book Deals and Media Appearances after the Mob
With his departure from the mafia scene and imprisonment, Michael Franzese started a new chapter. He wrote several bestselling books about his mob life and eventual escape. Royalties from these books as well as earnings from media appearances were probably a major source of income.
Motivational Speaking After the Mob: Leaving the Mob
Michael Franzese turned his experience into motivational speaking. His story of redemption warns others about mafia lifestyle dangers. Revenue from speaking engagements likely contributes to his net worth today.
Conclusion
Michael Franzese’s net worth reflects his past in the mafia but also his resolve to rebuild his life. It tells the cautionary tale of the lure and perils of crime.
