Michael Franzese, a former caporegime of the Colombo crime family, has a net worth estimated at $1 million. His journey from a notorious mobster to a motivational speaker and author is a remarkable story of transformation.
Table of Contents
Who is Michael Franzese?
Michael Franzese, born on May 27, 1951, in Brooklyn, New York, is a former member of the Colombo crime family. He is the son of John “Sonny” Franzese, a notable figure in organized crime.
Age
Michael Franzese is 72 years old, born on May 27, 1951.
Early Life and Education
Franzese grew up in a Mafia-influenced environment. Initially pursuing a pre-med program at Hofstra University, he dropped out to support his family after his father’s imprisonment in 1967.
Michael Franzese Net Worth
Franzese’s net worth, predominantly earned during his criminal career, is estimated at $1 million. His current income sources include book sales, speaking engagements, and entertainment projects.
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Michael Franzese Career in Crime
Franzese became a caporegime in the Colombo family. He was involved in various criminal activities, including a significant gasoline bootlegging scheme in the early 1980s, partnering with the Russian Mafia in Brooklyn. This operation brought in millions, with Franzese making up to $1 million per week.
Gasoline Bootlegging Allegations
The gasoline tax scam involved creating dummy companies to evade federal taxes. It was one of Franzese’s most lucrative ventures, generating immense profits and leading to his listing in Fortune Magazine’s “Fifty Most Wealthy and Powerful Mafia Bosses.”
Legal Businesses
Michael Franzese diversified into legitimate businesses, including car dealerships, nightclubs, and film production. He was involved in the sports management agency with booking agent Norby Walters and produced the film “Knights of the City” through his company, Miami Gold.
Involvement in Entertainment and Book Writing
Franzese wrote several books, including “Blood Covenant” and “Mafia Democracy.” He was featured in the films “Let There Be Light” and “Whack the Don.” His transition to writing and entertainment marked a significant shift from his criminal past.
Transformation and Current Endeavors
After serving time in prison, Franzese turned his life around, embracing Christianity. He retired to California and is now a motivational speaker, charging $10,000 – $20,000 per event. His message focuses on redemption and transformation.
Conclusion
Michael Franzese’s life story is a testament to the possibility of change. From a feared mobster to a motivational speaker and author, his journey reflects a profound personal transformation. His experiences in organized crime and his subsequent redemption offer unique insights into the complexities of human nature and the power of change.
FAQs About Michael Franzese
1. What is Michael Franzese’s net worth? His net worth is estimated at $1 million.
2. How did Michael Franzese make his money? Franzese earned millions through criminal enterprises, notably a gasoline bootlegging scheme, and later diversified into legitimate businesses.
3. What movies has Michael Franzese been in? He appeared in “Let There Be Light” and “Whack the Don.”
4. Did Michael Franzese write any books? Yes, he wrote several books, including “Blood Covenant” and “Mafia Democracy.”
5. What does Michael Franzese do now? He is a motivational speaker and writer, focusing on themes of redemption and transformation.
In conclusion, Mich
