Who is Michael Franzese and what is his net worth 2018? Michael “Yuppie Don” Franzese is a popular former mobster in New York and caporegime of the 1980s Colombo Crime Family that was involved in the gasoline tax rackets. He has denounced organised crime and he is now a Christian. He manages a foundation that was set up to help the youth and he is also a motivational speaker.
Michael Franzese was born on March 27, 1951, at Brooklyn, New York, United Space. His father is the popular Colombo underboss, John “Sonny” Franzese. He started his University education at Hofstra University but he did not complete school. He dropped out and joined his father in organised crime. His father wanted him to be a doctor.
Michael is married to Garcia Camille. They got married in 1985. Camille was a devout Christian before she met Michael. She is a dancer. She played a major role in her husband’s decision to quit organised crime. The couple has four children.
In 1975, he was inducted into the group as a soldier. He became a caporegime in the 1980s and he had over 300 soldiers under his command. The height of his organised crime career was when he teamed up with Brighton Breach, Russian Mafia, to deal in the popular gasoline bootlegging rackets.
He made a lot of money from selling gallons of gasoline. He made over $8 million every week. He was later arrested and 14 counts, he pleaded guilty to two counts. In 1986, he was sentenced to 10 years in prison and he also had to pay $14 million in restitution payments.
He denounced the organised crime group in 1987 while he was still in prison. He was released from prison in 1989 and he moved to Los Angeles. He was again arrested in 1989 for violating probation requirements. He was sentenced to four years in prison in the year 1991. He co-wrote his autobiography, “Quitting the Mob” while in prison. He was released in 1994 from prison.
Michael founded Breaking Out Foundation, a foundation aimed at educating and empowering to handle life challenges including gambling. He also began motivational talks. He was invited to several events where he was the keynote. He later released “Blood Covenant”, a more comprehensive autography that included more about his life. his current book is titled “I’ll Make You an Offer You Can’t Refuse”.
Net Worth of Michael Franzese
In 1981, Michael’s net worth was an estimated $30 million. He earned between $8 million to $10 million. He owned one of the most expensive houses in the country. He owned private jets, large pools, and a golf course. He, however, lost some through restitution payments. Michael is now worth an estimated $1 million.
In 2013, he appeared in National Geographic Channel’s “Inside the American Mob” show. On the show, he gave candid interviews revealing a lot about his life including his childhood and the moment he became a member of the organised crime family. He is one of the mafia’s who made the most money for the group. He now encourages people to become Christians.