One of the most significant and potent mob leaders in American history was Frank Costello. He began his career in organised crime in 1891 and eventually became the head of the Luciano crime family, which subsequently changed its name to the Genovese family. Costello was known as “The Prime Minister of the Underworld” because he valued political power over violence, in contrast to other criminals. Because of his close ties to police enforcement and politics, the mafia was able to function with little hindrance. Following a botched assassination attempt in 1957, he retired, ending his rule. Costello left behind a legacy of strength, cunning, and criminal acumen.
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Frank Costello’s Net Worth
One of the most powerful mob leaders in history, Frank Costello, accumulated enormous money through racketeering, bootlegging, and illegal gambling. At his height, his estimated net worth was in the tens of millions, which is comparable to hundreds of millions today, however precise numbers are hard to confirm. Costello’s ability to manage gambling activities while preserving political ties that safeguarded his empire was the key factor in his financial success. He prioritised businesslike activities over violence, in contrast to many other mobsters. Costello demonstrated the enduring financial strength of his criminal empire by continuing to live lavishly even after retiring after a botched murder attempt.
Frank Costello’s Age
Frank Costello was born on January 26, 1891, and died on February 18, 1973, at the age of 82. He led the Luciano (later Genovese) criminal family and oversaw extensive gambling and racketeering enterprises, making him one of the most powerful individuals in organised crime during the course of his lengthy life. In contrast to many of his violent contemporaries, Costello kept his position of authority by political ties and influence. An uncommon outcome for a mob boss, he was able to retire peacefully even after a botched murder attempt in 1957. He left behind a legacy of longevity, strength, and strategy.
Frank Costello’s Wife
For more than 50 years, Frank Costello was wed to his loyal wife, Lauretta Giegerman. Their marriage held firm despite his extensive involvement in organised crime, and it is said that Lauretta was oblivious to many of his illicit endeavours. She favoured a calm and private existence over the ostentatious way of life that other mafia spouses led. Lauretta was Costello’s faithful companion while he established his underground empire, supporting him through his legal issues and final retirement. Even one of the most powerful mafia bosses had a more sensitive, human side, as seen by their enduring marriage, which was unusual in the criminal world.
Frank Costello’s Family
Born Francesco Castiglia in 1891, Frank Costello grew up in East Harlem, New York, in a family of Italian immigrants. Luigi and Maria Castiglia, his parents, left Italy in pursuit of a better life. Costello kept his personal life largely discreet despite his extensive participation in organised crime. Lauretta Giegerman was his wife, although they never had kids. He kept his family apart from his illegal activities because, in contrast to many mobsters, he respected secrecy. His legacy is made more mysterious by the fact that, despite creating an empire in the underground, his private life was mainly kept secret.
Frank Costello’s Children
Despite his immense power and influence in the criminal underworld, Frank Costello never had children. He was married to Lauretta Giegerman for over 50 years, but the couple remained childless. Unlike many mobsters who sought to pass their legacy to the next generation, Costello focused on maintaining political connections and financial power rather than building a family dynasty. His lack of direct heirs meant that after his retirement and eventual death in 1973, his influence faded, and his empire was absorbed by the next generation of organized crime leaders. His legacy, however, remains a defining chapter in mafia history.
Frank Costello’s Crimes
A major player in organised crime, Frank Costello oversaw political corruption, bootlegging, illegal gambling, and racketeering. He was known as “The Prime Minister of the Underworld” because, in contrast to many mobsters, he valued influence over violence. Using bribery to gain political protection, he oversaw profitable gambling businesses throughout the United States. Despite being detained several times, he frequently avoided harsh punishment. He was forced into retirement in 1957 following a failed assassination attempt, which ultimately led to his demise. Despite his illegal empire, Costello escaped the terrible destiny that befell many mafia bosses, leaving a legacy of power, cunning, and intricate underworld business.
