generational wealth

[JCB1977]

Meyer Lansky had a net worth equal to $600 million dollars at the time of his death, after adjusting for inflation. When he died, the FBI believed that he left $300-$400 million in hidden bank accounts around the world. As of this writing in 2007, the money was never found.

[aleksandrored]

Meyer Lansky had a net worth equal to $600 million dollars at the time of his death, after adjusting for inflation. When he died, the FBI believed that he left $300-$400 million in hidden bank accounts around the world. As of this writing in 2007, the money was never found.

Wasn't that a myth created by a Journalist at the time? I remember reading something like that in Robert Lacey's book where he talks about it, and when the journalist who said that was asked, he said he didn't know where he got those numbers.

[JCB1977]

Meyer Lansky had a net worth equal to $600 million dollars at the time of his death, after adjusting for inflation. When he died, the FBI believed that he left $300-$400 million in hidden bank accounts around the world. As of this writing in 2007, the money was never found.

Wasn't that a myth created by a Journalist at the time? I remember reading something like that in Robert Lacey's book where he talks about it, and when the journalist who said that was asked, he said he didn't know where he got those numbers.

The FBI claims he had over $300 million in offshore accounts and real estate assets overseas. The family said his estate was worth $157k...

[Wiseguy]

Meyer Lansky had a net worth equal to $600 million dollars at the time of his death, after adjusting for inflation. When he died, the FBI believed that he left $300-$400 million in hidden bank accounts around the world. As of this writing in 2007, the money was never found.

Wasn't that a myth created by a Journalist at the time? I remember reading something like that in Robert Lacey's book where he talks about it, and when the journalist who said that was asked, he said he didn't know where he got those numbers.

The FBI claims he had over $300 million in offshore accounts and real estate assets overseas. The family said his estate was worth $157k...

That would be nearly a half-million in today's dollars though I've always been skeptical that was the extent of his estate. Though obviously $300 million is just absurd.

[Nasabeak]

Castellano had probably around the equivalent today of at least 20-30 million dollars, a good portion of this would have been invested in at least semi legitimate businesses; he had also set up his sons in legitimate companies. I would say that his immediate heirs probably never hurt for money in the aftermath of his murder.

Gambino is much the same story. Even indirect descendants of him live comfortably both on his name and legacy. His son Tommy was set up very nicely in various unions before he died and he had around $20 million as of the early 1990s - I believe his plea deal with the government only took away a small portion of that wealth - I have to imagine his sons and their children etc grew up very comfortably

[CornerBoy]

tommy gambino was worth 60 million in 1996.

[JCB1977]

Meyer Lansky had a net worth equal to $600 million dollars at the time of his death, after adjusting for inflation. When he died, the FBI believed that he left $300-$400 million in hidden bank accounts around the world. As of this writing in 2007, the money was never found.

Wasn't that a myth created by a Journalist at the time? I remember reading something like that in Robert Lacey's book where he talks about it, and when the journalist who said that was asked, he said he didn't know where he got those numbers.

The FBI claims he had over $300 million in offshore accounts and real estate assets overseas. The family said his estate was worth $157k...

That would be nearly a half-million in today's dollars though I've always been skeptical that was the extent of his estate. Though obviously $300 million is just absurd.

I hear what you're saying Wiseguy but Lansky easily made over $50 million in bootlegging, add in the casino's...invest the money properly and it could certainly balloon. We'll never know the true amount but what the family has said is complete bullshit.

[NothingNew44]

Per court records and plea agreement, Lenine "Lenny" Strollo, Pittsburgh Capo in Charge of Youngstown rackets had $12.6 million in cash and another $15 million in real estate assets that he was allowed to keep for his cooperation. That's a significant amount of money for a member from a smaller crime family.

I’d say that’s significant money for anybody in any family. That’s impressive.

[JCB1977]

Per court records and plea agreement, Lenine "Lenny" Strollo, Pittsburgh Capo in Charge of Youngstown rackets had $12.6 million in cash and another $15 million in real estate assets that he was allowed to keep for his cooperation. That's a significant amount of money for a member from a smaller crime family.

I’d say that’s significant money for anybody in any family. That’s impressive.

,
By the time he was indicted, he had spent 45 years in the rackets. Smaller families had entire areas to themselves. In Pittsburgh's case, they controlled all of Western PA, parts of Cumberland, MD, the entire panhandle of WV and a good portion of Northeast Ohio. Less made guys in a family equals less of a split in the weekly take. Lenny had the All American Club Casino for 15 years before the FBI busted it. The FBI said it made $20 million per year net income and was the largest illegal casino in the country. $5 million per year went to Mike Genovese...how he cut it up is anybody's guess. Lenny took care of Bernie Altshuler and Ernie Biondillo, but he was keeping the Lion's share. Lenny wasn't a big spender, he had a beautiful home but never went on vacation or out to dinner or nightclubs. He was most comfortable in his home. Lenny also had two gambling casinos and resorts in Puerto Rico.

[FriendofHenry]

Per court records and plea agreement, Lenine "Lenny" Strollo, Pittsburgh Capo in Charge of Youngstown rackets had $12.6 million in cash and another $15 million in real estate assets that he was allowed to keep for his cooperation. That's a significant amount of money for a member from a smaller crime family.

I’d say that’s significant money for anybody in any family. That’s impressive.

,
By the time he was indicted, he had spent 45 years in the rackets. Smaller families had entire areas to themselves. In Pittsburgh's case, they controlled all of Western PA, parts of Cumberland, MD, the entire panhandle of WV and a good portion of Northeast Ohio. Less made guys in a family equals less of a split in the weekly take. Lenny had the All American Club Casino for 15 years before the FBI busted it. The FBI said it made $20 million per year net income and was the largest illegal casino in the country. $5 million per year went to Mike Genovese...how he cut it up is anybody's guess. Lenny took care of Bernie Altshuler and Ernie Biondillo, but he was keeping the Lion's share. Lenny wasn't a big spender, he had a beautiful home but never went on vacation or out to dinner or nightclubs. He was most comfortable in his home. Lenny also had two gambling casinos and resorts in Puerto Rico.

Lenny made his share of The All American Club even larger when he paid Bernie to wack Ernie. Lenny then ratted out Bernie for killing Ernie

[NothingNew44]

I love that old episode of city confidential about Strollo and trying to murder that DA. That dude lived comfortably and had a crazy long run with substantial influence. It blows my mind he ruined it by exposing himself with some of the boobs and knuckleheads he had around him.

[JCB1977]

I love that old episode of city confidential about Strollo and trying to murder that DA. That dude lived comfortably and had a crazy long run with substantial influence. It blows my mind he ruined it by exposing himself with some of the boobs and knuckleheads he had around him.

He left violent matters to Bernie Altshuler...who had a gambling club that catered to black drug dealers, hence why the shines were involved with the murder for hire plot. Lenny wouldn't speak with or communicate with them. Bernie was his lifelong friend....and he fucked up by hiring those drug dealers

[CornerBoy]

this lenny guy seems interesting. worth 20 million, a rat, in Western PA? thats like being worth 30 million here.

[JCB1977]

this lenny guy seems interesting. worth 20 million, a rat, in Western PA? thats like being worth 30 million here.

He oversaw the Northeast Ohio rackets for Pittsburgh. Here's a few articles if you're interested

https://www.clevescene.com/news/end-of-the-line-1472059

https://newrepublic.com/article/68973/crimetown-usa

[newera_212]

Any insights into the Detroit Family? I know I’ve read about some key guys Tocco or Zerelli selling real estate for substantial amounts, and buying/selling a country club(?).

Was just reading over the thread and was about to ask about Detroit... not about the old timers, but about the member (not sure if he was made or an associate, or how any of that even works up there) who sold this insurance or healthcare type of company about 10-12 years ago for serious money. I tried a quick half hearted google search and didn't get far, but the news about this was posted on here or RD back when it happened. If I recall correctly, and a lot of the time I don't lol, the number was ridiculous...like a MLB 2022 free agency type of number

Anyone remember who this was?