Want to know about Michael Franzese Net Worth?
Michael Franzese Net Worth is $1 Million and he is a caporegime and former mobster of the famous crime family known as the Colombo family. In 1967, he got into organized crime as he had to make money after his father was sentenced to 50-year imprisonment. But soon Michael abandoned the life of crime and became a motivational speaker and writer.
Let’s see the details about Michael Franzese Net Worth and his personal life.
Michael Franzese Net Worth:
Michael Franzese at a glance
|Full Name||Michael Franzese|
|Michael Franzese Net Worth [as of 2022]||$1 Million|
|Date of Birth||May 27, 1951|
|Age||70 years old|
|Born Place||New York, US|
|Source of Wealth||Motivational speaker, writer|
Michael Franzese was born on May 27, 1951, in New York, United States. He is the son of former underboss John Franzese. He did his pre-medical at Hofstra University but soon he was dropped out to make money because his father was imprisoned for 50 years for bank robbery in 1967. Michael became familiarized with his father’s friend and became a made man on Halloween night under acting boss Tommy DiBella in 1975.
Franzese swore omerta and took the blood oath. He took the oath with his friends Jimmy Angelino, Vitto Guzo Sr, Salvatore Miciatto, and John Minerva. Franzese met with the Gambino crime family boss John Gotti, who was then a soldier in 1970. He was also contacted by a flea market owner who was also complained that his partner was using and selling drugs in Brooklyn. Franzese sent Anthony Sarivola and another member who remains unidentified. He became a caporegime of a crew in 1980.
This was just the start of Michael Franzese Net Worth.
Franzese was also contacted by Lawrence Salvatore Lorizzo who had developed a scheme to defraud the federal government out of gasoline taxes in 1985. Lorizzo offered Franseze a percentage to defend and solve the issue as he was hassled by criminals in California. 18 stock-bearer companies based in Panama were set up by the pair. Gasoline used to be sold tax-free from one wholesale company to the next, under law at the time in Panama. He contracted and partnered with the Russian Mafia. The wholesale gas was sold to one company and was shipped to another company, while a dummy company would forge tax documents for the company that received the gasoline.
Michaels’s crews used to collect nine cents per gallon of gasoline in federal tax. The daisy chain would continue after the enforcement agents collected the tax from the dummy company. This gasoline was supplied between one-half of all gasoline sold in the New York metropolitan area. Franzese used to keep 75% of the profits, making $1.26 Million per month, while Lorizzo used to make $45,000 per month. Franzese once told that he used to make up $8 Million per week. Franzese also got listed in Fortune Magazine as number 18 on the list of the “Fifty most wealthy and powerful Mafia bosses”. Vanity Fair also cited him as one of the huge money earners for the mafia since Al Capone.
Businesses and Entertainment
In the 1980’s Michael was also referred to as “Prince of the Mafia” and “Yuppie Don”. He entered the world of business in the 1970s and understood various businesses such as auto repair shops, nightclubs, distribution companies, leasing companies, travel agencies, and car dealerships. He became a partner with booking agent Norby Walters.
He used to intimidate clients in the firm. He also gave $50,000 to Walters to start his agency company with a 25% share of profits. Walters and Michael both set up a sports management agency in 1985. Walters agreed to give $50,000 in return for a 25% interest from the sports agency. Michael was also the president of a film production company named Miami Gold, which produced the 1986 film Knights of the City. These businesses also led to increasing in Michael Franzese Net Worth.
Life in Prison
In 1991, Michael was sentenced in New York to four years in federal prison. He was also arrested on a fraud tax accusation in Los Angeles and was sent back to New York for the probation hearing. In 1990, he was portrayed by Joseph Bono in the Martin Scorsese film Goodfellas. He also became a born-again Christian in 1991 after one of the prison guards gave him the Bible. He co-authored his first book in which he discussed life with his father, criminal activities, and his second wife Camille Garcia.
Life after Prison
Michael Franzese was released from prison in 1994 and moved to California with his wife and children. After his release, he publically said, “I never glamorize my mob life, it’s an evil life“. He also got retirement from the mob in 1995 and became a motivational speaker for youth at schools, prisons, and other places.
In 2015, Franzese told people about the impact of being a member of the crime family and how he turned away from the crime life in a documentary on the American Mafia with reporter as well as television presenter Trever Mcdonald.
In 2017, he played the role of a reformed mobster in the film Let There Be Light.
In 2019, he became the co-founder of ‘Slices Pizza‘. The franchise serves square pizzas and has five branches across the country including Dallas, Texas.
In 2020, Franzese started his YouTube channel. He tells about his past life, takes interview, and give reviews on Mafia-related movies on his channel. He is also the author of seven books and has millions of subscribers on his YouTube channel.
His other activities also contributed much to Michael Franzese Net Worth.
Michael Franzese has married Camille Garcia. The couple met on the set of the movie Knights of the city. Camille was one of the dancers on the set while Michael was the producer. She got into this job because the dancer left work. At that time, Franzese was quite popular in his crime career. The time Michael saw Camille, he fell in love with her. He asked Camille for a date but unfortunately, she was not fascinated by the Mafia boss. Michael made a lot of efforts and convinced her to let him meet her family and she agreed.
Michael Franzese married his second wife Camille Garcia in 1984. They both are living happy life. Camille has a private account and runs a family business of fitness. She always encourages her children and also receives praise from them too.
Michael Franzese Net Worth & How he Earns?
Michael Franzese Net Worth is $1 Million. Let’s see how Michael Franzese Net Worth is Earned.
Michael Franzese is the world’s famous mobster. He was a member of the Colombo crime family and most of Michael Franzese Net Worth comes from his criminal activities. He is also listed in Fortune Magazine as “Fifty most wealthy and powerful Mafia bosses”. He also has a stronghold on various businesses like car dealerships, travel agencies, video stores, and many more. He has also appeared in various documentaries in which he spoke about his wealth and how he got into criminal life. He is also co-founder of the national franchise of pizza restaurant “Slices Pizza”. Various activities and businesses led to an increase in Michael Franzese Net Worth.
What is Michael Franzese Net Worth in 2022?
Michael Franzese Net Worth in 2022 is $1 Million.
Is Michael Franzese rich?
He is a member of the Colombo crime family and also an American former mobster. Michael Franzese Net Worth is $1 Million.
Who is Michael Franzese’s real dad?
Michael Franzese’s real dad is Sonny Franzese.
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