Of All His Crimes, Tax Evasion Triggered Al Capone's Decline; Here's His Net Worth at the Time

Gangster gold: Al Capone's net worth uncovered

Notorious American gangster Al Capone made his way in history with a criminal empire built during the Prohibition era. At the time of his death, Al Capone had an inflation-adjusted net worth of $100 million. Born on January 17, 1899, in Brooklyn, New York, Capone rose from humble beginnings to become a notorious figure in organized crime, first as a member of the Five Points Gang and eventually as the boss of the Chicago Outfit.

What were Al Capone's sources of income?

Capone's diverse sources of income reflected the extent of his criminal empire's operations. During the peak of his power, his empire raked in around $60 million from illegal alcohol, $25 million from gambling, and $10 million from vice-related activities. His annual earnings reached a staggering $105 million, equivalent to about $1.5 billion today.

Net Worth comparison to present day fortunes

Al Capone, the infamous American gangster, had a net worth of $100 million at the time of his death in 1947, equivalent to approximately $1.5 billion in today's currency. His wealth was amassed during the Prohibition era, when he dominated various criminal enterprises, including illegal alcohol, gambling, and vice activities. Capone's net worth is often compared to other notorious gangsters of his time, showcasing the immense financial success he achieved in the criminal underworld.

Tax Evasion, imprisonment, and trials

Capone's downfall came in 1931 when he was convicted of income tax evasion and sentenced to 11 years in federal prison. The charges focused on his failure to report substantial illicit income from his criminal activities. This marked the end of his seven-year reign as the crime boss of the Chicago Outfit. Capone's imprisonment exposed the extent of his criminal empire's financial activities and led to significant legal consequences for one of the most powerful figures in organized crime.

Business ventures

Capone's criminal empire extended its reach across bootlegging, gambling, and various vice-related activities. The intricate web of his operations allowed him to amass vast amounts of wealth, contributing significantly to his net worth. As per Business News Daily, the criminal mastermind even owned 300 businesses to be used as fronts for illegal activities.

Real estate and total assets

One of Capone's notable assets was his mansion in the Palm Island area of Miami Beach, which he purchased in 1928 for $40,000. This property, sitting on a 30,000-square-foot lot, gained historical significance due to its ownership, and was sold for $10.75 million in September 2021.

Income by the year

Here's a breakdown of Al Capone's estimated annual earnings over a few years at the height of his power.

Move to Chicago, political alliances, and involvement in drugs and prostitution

Capone's move to Chicago in 1919 proved pivotal in his criminal career. He aligned himself with political figures, forging alliances that allowed his criminal empire to flourish. His involvement in drugs and prostitution, notably as a bouncer in a brothel, showcased the breadth of his illicit activities. Capone's connections with city officials and politicians played a crucial role in sustaining his criminal enterprises and avoiding legal consequences for an extended period.

Street gangs, Catholic school journey, and personal life

Capone's early association with street gangs like the Junior Forty Thieves and the Bowery Boys laid the foundation for his criminal career. Despite a brief stint in a Catholic school, Capone's expulsion at 14 marked a turning point. His personal life, including his marriage to Mary Josephine Coughlin, provided insight into the complex dynamics of his relationships. His son, Albert Francis "Sonny" Capone, distanced himself from a life of crime, opting for a more conventional path.

Illness and death

Capone's health deteriorated during his prison sentence, with diagnoses of gonorrhea and syphilis. Released in 1939 due to failing health, he struggled with neuropsychiatric disorders caused by late-stage syphilis. Capone's death in 1947, at the age of 48, was attributed to a stroke and cardiac arrest. His decline, both physically and mentally, reflected the toll of a life marked by crime and its consequences.

FAQs

Did Al Capone have brothers?

Yes, Al Capone had several brothers. Their names were Vincenzo, Raffaele (known as Frank), Salvatore, Albert, Matthew, and two others, Ermina and Ermino. Salvatore and Raffaele (Frank) were involved in Al Capone's criminal empire.

How did Al Capone make most of his money?

Al Capone obtained most of his money through illegal activities, with a significant portion coming from the illegal alcohol trade during the Prohibition era.

How did Al Capone clean his money?

Money laundering was a common practice among organized crime figures during that era, involving complex schemes to legitimize illicitly obtained funds.

What did Al Capone's family do?

His son named Albert Francis "Sonny" Capone, who chose not to follow his father's criminal path and pursued a different career, working as a used car salesman, apprentice printer, and tire distributor.

What made Al Capone so successful?

He expanded his criminal empire through violent means, maintained relationships with city officials, and controlled various lucrative illegal activities, making him one of the most successful and powerful crime bosses of his time.

What organization did Al Capone run?

Al Capone ran the Chicago Outfit, which was a powerful organized crime syndicate.