The Story of Frank Costello — Power, Influence, and Infamy

From Calabrian Beginnings to American Underworld

Frank Costello was born Francesco Castiglia on January 26, 1891 in a small village in Calabria, Italy.  As a child, he immigrated with his family to New York City, where they settled in the tough tenements of East Harlem. 

Young Francesco’s early life took a turn toward the streets — by his early teens he was involved with local gangs, drawn into the world of petty crime, assault, and robbery.  Those humble — and dangerous — beginnings set the stage for what would become one of the most notorious careers in the history of organized crime.

The Rise of a “Silent Don”: From Bootlegging to The Commission

During the Prohibition era and beyond, Costello evolved from a street-level hood to a key architect of organized crime’s modern structure. Working closely with Lucky Luciano, he helped orchestrate bootlegging operations, gambling rings, and other rackets stretching across New York, Florida, Louisiana, and even into Cuba. 

By the 1930s, after the old “Mustache Pete” bosses were eliminated and the syndicate was reorganized, Costello emerged as Luciano’s trusted lieutenant — and later, as acting boss of what became the Luciano crime family.  Through a combination of strategic thinking, business-style operations, and political connections, he helped transform a patchwork of illegal enterprises into something resembling a corporate criminal network. 

Unlike many of his violent contemporaries, Costello was known for favoring diplomacy, deals, and influence — earning him the nickname “The Prime Minister of the Underworld.”

Fortune Built in the Shadows: Estimating Net Worth

Assessing the true wealth of a mob boss like Costello is inherently speculative. Nonetheless, some sources estimate that at the time of his death his net worth was around US$150 million.

That number — representing ill-gotten gains from gambling, bootlegging, and racketeering — would likely translate to a substantially larger sum in today’s dollars. Indeed, some listings among “richest criminals” rank him among the top tier, reflecting the vast scale of his underworld empire. 

A Life of Power, Allies — and Betrayal

Costello’s influence extended well beyond the back rooms of speakeasies and gambling dens. He cultivated relationships with politicians, businessmen, and power brokers — making him a bridge between the criminal underworld and the corridors of legitimate power.

In 1914, he married Loretta Geigerman (sometimes spelled Lauretta or “Bobbie”), a Jewish woman whose family had immigrated from Germany. Their union stood out in that era and social circle; few mobsters married outside their ethnic group. The marriage, by most accounts, endured as Costello climbed the criminal ranks. 

But power breeds enemies. By the mid-1950s, Costello’s dominance engendered jealousy and resentment — notably from Vito Genovese. On May 2, 1957, Costello survived an assassination attempt in a hotel lobby, allegedly ordered by Genovese.  That near-murder convinced Costello that his days as a boss were over. He relinquished active control and retreated from frontline operations. 

Legacy, Retirement, and Final Years

Even in retirement, Costello carried weight behind the scenes — respected, feared, consulted. He became a kind of elder statesman in underworld circles: advisors, younger mob figures, even non-mob businessmen, reportedly sought his counsel. 

He spent his later years relatively quietly, known to tend to a garden in his Manhattan residence and occasionally entertain old associates.  But a life built on power and secrecy seldom rests easy for long. On February 18, 1973, Costello died of a heart attack at his home in New York City. He was laid to rest in a private mausoleum at St. Michael’s Cemetery in Queens. 

His passing closed a chapter on one of the most influential — and shadowy — underworld figures the United States has known.

Why Frank Costello Still Matters

• Redefining the Mafia: Costello’s era marked the evolution of organized crime from street-level gangs to structured syndicates — businesses with leadership, strategy, and ambition. His model influenced how crime families operated for decades. 

• The Power of Influence: By blending illegal operations with political connections, Costello blurred lines between criminal underworld and legitimate power — a dynamic still relevant in modern discussions about corruption and organized crime. 

• Cultural Legacy: His life and persona — the suave suit, the whispered deals, the “political boss” behind the scenes — influenced countless portrayals of mobsters in books, film, and popular culture.

Frank Costello remains a cautionary legend: a figure who rose from immigrant hardship to the pinnacle of underworld power — only to find that its spotlight casts long shadows. His story is a layered chronicle of ambition, influence, violence avoided — and violence survived.