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What Is Paul Castellano Net Worth?
At the height of his power in the early 1980s, Paul Castellano, the notorious American mafia boss, commanded a net worth estimated at $20 million. Adjusting for inflation, this sum is equivalent to approximately $50 million in today’s currency. Castellano, also known as “The Howard Hughes of the Mob” and “Big Paulie,” led a life intertwined with both legitimate business ventures and illicit activities.
Paul Castellano’s Early Life and Rise to Power
Born on June 26, 1915, in Brooklyn, New York City, Paul Castellano entered a world already touched by organized crime. His parents, Giuseppe and Concetta Castellano, were Italian immigrants; Giuseppe worked as a butcher and was a member of the Mangano crime family, which later evolved into the Gambino crime family. Castellano’s early exposure to the criminal underworld was further cemented when he dropped out of school in the eighth grade to work as a butcher, mirroring his father’s trade.
Castellano’s first arrest occurred in 1934, at the age of 19, for robbing a haberdasher. This landed him a three-month jail sentence, enhancing his reputation within the mob. A significant turning point in his career came through family ties; his sister, Catherine, married Carlo Gambino in 1932, solidifying Castellano’s connection to what would become the Gambino crime family.
Castellano officially became a member of the Mangano crime family in the 1940s. He rose to the position of capo under boss Albert Anastasia. Following Anastasia’s assassination, Carlo Gambino ascended to the role of boss, further elevating Castellano’s status. In 1957, Castellano attended the infamous Apalachin meeting, a gathering of American mob leaders raided by police, leading to his arrest and a subsequent year-long prison sentence for contempt. Though he faced further legal challenges, including a five-year prison sentence in 1960 that was later overturned, Castellano’s influence within the mafia continued to grow.
Castellano’s Business Ventures and Extravagant Lifestyle
Throughout his career, Paul Castellano strategically diversified his activities by establishing legitimate businesses, although these ventures often benefited from his mob connections. One of his early enterprises was Dial Poultry, a poultry distribution business that supplied 300 butchers in New York City. He also became heavily involved in the construction concrete business, overseeing the Gambino family’s interests in the “Concrete Club,” a consortium of contractors selected by The Commission, the governing body of the Italian-American mafia. These contractors provided The Commission with a kickback of two percent of the overall contract value.
In October 1976, Carlo Gambino’s death led to Castellano’s appointment as the new boss, bypassing Gambino’s underboss, Aniello Dellacroce. This decision divided the Gambino family into factions, with some supporting Castellano and others remaining loyal to Dellacroce. Castellano consolidated his power by ordering the murders of several Gambino associates and capos, further deepening the rift within the family.
In 1978, Castellano forged an alliance between the Gambino family and the Westies, an Irish-American gang from Hell’s Kitchen in Manhattan. This arrangement provided the Gambino family with access to hitmen outside their direct network, while the Westies gained protection from other Italian mafia families. At the height of his influence, Castellano commissioned the construction of a lavish 17-room mansion on Staten Island, often referred to as “The White House.” This opulent residence featured Carrara marble, an English garden, and an Olympic-sized swimming pool. Following the completion of the mansion, Castellano became increasingly reclusive, preferring to receive visitors at his home rather than venturing out.
To sustain his opulent lifestyle, Castellano increased the financial demands on his capos, raising the tribute from 10% to 15% of their earnings. According to Sammy “The Bull” Gravano, mob bosses like Paul Castellano and John Gotti could earn $10-15 million in a typical year. This increase in tribute, coupled with Castellano’s lavish mansion, fueled resentment among his capos, ultimately contributing to his downfall.
Legal Troubles and Eventual Assassination
Despite his efforts to maintain a low profile, Castellano faced numerous legal challenges. In 1984, he was indicted on federal racketeering charges, encompassing murder, extortion, narcotics trafficking, theft, and prostitution. He was released on $2 million bail. In February 1985, he was again arrested on racketeering charges, securing his release on $3 million bail. Months later, he was indicted on loansharking and tax evasion charges, though he avoided jail time.
John Gotti, a protégé of Dellacroce, grew increasingly dissatisfied with Castellano’s leadership. Following Dellacroce’s death, Gotti orchestrated Castellano’s assassination. Further alienating his allies, Castellano did not attend Dellacroce’s wake, an egregious insult to the Dellacroce family.
On December 16, 1985, Paul Castellano was driven to a prearranged meeting in Midtown Manhattan. A hit team awaited his arrival, while Gotti observed from across the street. As Castellano exited the car, he was shot multiple times by the waiting assassins. Gotti then drove past the scene to confirm Castellano’s death. Two weeks later, Gotti was elected as the new Gambino boss. Seven years later, Gotti was convicted of numerous racketeering charges, including the 1985 murder of Castellano, and sentenced to life in federal prison.
Paul Castellano’s Legacy and Portrayals in Popular Culture
Paul Castellano’s life and death have been chronicled in numerous films and television series. He was portrayed by Richard C. Sarafian in the 1996 HBO film “Gotti,” Abe Vigoda in the NBC TV movie “Witness to the Mob” in 1998, Sam Coppola in the 2001 TV movie “The Big Heist,” and Chazz Palminteri in the 2001 TNT TV movie “Boss of Bosses.” He was also played by actor Donald John Volpenhein in the biopic “Gotti” in 2018 and was the subject of the Netflix documentary “Fear City: New York vs The Mafia” in 2020.
Personal Life
In 1937, Castellano married his childhood sweetheart, Nina Manno. The couple had three sons and one daughter together. He also had an affair with a live-in Colombian maid, Gloria Olarte.
