What was Paul Castellano’s Net Worth?
Paul Castellano, a former American mafia boss who was also known as “The Howard Hughes of the Mob” and “Big Paulie”, had a net worth of $20 million at the height of his power in the early 1980s. That’s equivalent to around $50 million in today’s money.
Castellano, who was born in Brooklyn, New York in June 1915, succeeded Carlo Gambino as the head of the Gambino crime family in New York. He was a construction tycoon and wholesale meat merchant in New York City.
Castellano was assassinated in an unsanctioned hit by John Gotti in 1985. He has been portrayed in several films, including “Gotti” (1996) by Richard C. Sarafian, “Witness to the Mob” (1998) by Abe Vigoda, “The Big Heist” (2001) by Sam Coppola, and “Boss of Bosses” (2001) by Chazz Palminteri. His nephew Richard S. Castellano starred in “The Godfather” movie.
Paul Castellano died on December 16, 1985, at the age of 70, from multiple gunshot wounds.
Paul Castellano’s Net Worth and Lavish Lifestyle
Paul Castellano’s precise net worth is estimated to be at least $20 million, which is equivalent to around $50 million after adjusting for inflation during the height of his power in the early 80s. According to Sammy “The Bull” Gravano’s book, mob bosses like Paul and John Gotti would earn $10-15 million in a typical year.
In 1981, Castellano spent over a million dollars to build an extravagant 17-room mansion on Staten Island, which later became known as The White House. The house boasts of an Olympic-sized swimming pool, English garden, and top-of-the-line Carrara marble throughout.
To maintain his lavish lifestyle, Castellano demanded 15% cuts of his capos’ earnings, up from the standard 10%. This increase in monthly tribute, coupled with his opulent mansion, caused discontent among his capos who were already struggling to make ends meet. This eventually led to his assassination.
Early Life and Criminal Activity
Paul Castellano was born on June 26, 1915 in Brooklyn, New York City to Italian immigrants Giuseppe and Concetta Castellano. His father was a member of the Mangano crime family, which later became the Gambino crime family. Castellano dropped out of school in eighth grade to work as a butcher. He was first arrested at the age of 19 for robbing a haberdasher and served three months in jail, which helped increase his standing within the mob.
Paul Castellano: The Gambino Boss
Paul Castellano was a prominent figure in the Gambino crime family, becoming a capo under boss Albert Anastasia after joining in the 1940s. He was known for his focus on establishing legitimate businesses, though many were strengthened due to his ties to the mob. Castellano was appointed to succeed his brother-in-law, Carlo Gambino, as boss in 1976, splitting the family into separate factions.
Castellano was indicted on federal racketeering charges in 1984, including murder charges, extortion, narcotics trafficking, theft, and prostitution. He was arrested again in 1985 on racketeering and loansharking charges but did not face any jail time.
Castellano’s leadership was questioned by John Gotti, protégé of underboss Aniello Dellacroce, and he was assassinated in December 1985. Gotti became the new Gambino boss and was later convicted of racketeering charges, including Castellano’s murder.
Castellano has been portrayed in several films and television series, including “Gotti,” “Witness to the Mob,” “The Big Heist,” “Boss of Bosses,” and the subject of the Netflix documentary, “Fear City: New York vs The Mafia.”
Marriage and Affair of Paul Castellano
Paul Castellano married Nina Manno, his childhood sweetheart, in 1937. The couple had three sons and one daughter together. However, Castellano also had an affair with his live-in Colombian maid, Gloria Olarte.
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