Well if Genovese made $2 mil in 1952 when he wasn't even the boss, I would assume that Costello made even more. I would imagine that Gambino was in the same ballpark, and some say that Jerry Catena had more money than anyone. I would guess that they made between $20 and $25 mil annually in today's money.

How did Catena make all of his money? I’ve heard a lot about him but nobody really knows too much about his business profits because he was so profit. Also, I wonder what if any American bosses like Luciano for example would’ve become top businessmen like the Rockefeller’s or something like that had they been able to evade the FBI and legitimize their businesses.

Part of his income was receiving skim money from Las Vegas. One of the reasons he was moved up to underboss and acting boss was his connection to Las Vegas. Vito Genovese never had that kind of connection.

How does skim money work? Is it like that scene in casino when the guy goes in the back and just puts a bunch of money in the suitcase? Or did Catena have a bigger(or smaller) skim operation than that? I know he was on the board for Bally’s so I’m sure he made a fortune from stock options.

It must’ve been a challenge for a lot of mafiosi to look for business opportunities that could replace the profits of drug trafficking. Casso(who was involved with drug trafficking) actually said that the gas scam made more money than drugs when it was up and running. Franzese said the same. I guess it’s all about being creative and being able to invest as well as diversify and legitimize your money.

A lot of the times the #'s can be confusing
I.E. when you read about the MOB ON WALLSTREET and a $30MM scam what that means is that investors in total lost $30MM that is not what O.C. made, on a scam like that they usually made $9MM

The same goes with sports books when the feds say $10MM sports book the guys running those books did not make $10MM
Gamblers waged $10MM in bets, some won, some lost
I.E. a gambler bets $1,000 on 8 sunday games wins 4, loses 4, the book made the vig however, that was $8K in bets

Especially when the #'s we get are from the feds they always inflate their #'s it makes cases look bigger

In The Godfather Garden by Richard Linnett has a great chapter on Catena. According to FBI reports based on bugs in mobster's offices, Catena's take of the Vegas skim was about $120,000 a month in the early 60s. He bragged on a bug that Runyon sales, his coin operated machine business, was doing about $20 million a year in business. He also had interests in all sorts of legitimate businesses over the years plus illegal gambling operations. One report I read said he and Joe Adonis made $120,000 in 1946 from just one illegal casino they had going. The FBI estimated that his personal assets exceeded $50 million.

Back in that time period he was worth $50 million? That would probably make him richer than any boss in America at that time. Maybe even more than Gambino. Wonder what his estate would be worth today assuming it kept growing and everything was adjusted for inflation.

I had a conversation on this site about the American mobsters vs the drug kingpins of America during the 70s/80s. It seemed like most people agreed that the top drug guys actually made a lot more money than the top mob guys, but the top mob guys had more power and lasted a little longer. But it sounds like Catena was maybe making drug kingpin type money.

Catena also had stock in Standard Oil, Bally's, Hellman's and Scopitone juke boxes. As far as casinos I think that he also had an interests in Cuba. He had enough that he didn't need to be boss, kind of like Costello I think that he just took it because he was the best option at the time, not because he was particularly power hungry.

Didn’t he own a lot of shares in the A&P as well?

I’m sure there are also other mobsters who also made money like this as well. Such as Gambino, Castellano, Costello, Lombardozzi, Galante, Conte, maybe Lucchese, and the list goes on.

hey Serp! your absolutely right. had Quack Quack not have gotten caught up in those wiretaps, Big Paul wouldn’t have been hit. Paulie would’ve gotten sentenced in Fall of 86’ then the Bergin crew move on Gambino & Billoti. i doubt the Chin would put up such a fuss for them two.

Well put. With all the rats , court cases and drama you never really hear about the Genovese family. I'd have to say there at the height of there power now , especially since the other family's have been decimated by l.e . They deft are taking advantage of the situation in nyc

Genovese captain, Richie “The Boot” Boiardo and Actor, George Raft (center), and Charlie “The Blade” Tourine (standing left) at dinner party ca. late’60’s. Raft was a longtime friend ot “the Boot’s” and other well-known gangsters during and after prohibition. He was also the “Greeter” at Cuba’s Capri Casino and Hotel controlled by the mob before Castro took over.

https://www.instagram.com/ny_mobsters_five_families/p/C-SLqwBN-zp/?locale=nl

real good photo of Boiardo, Tourine and Raft

Yep many old school gangsters idolized George Raft.