Flamboyant Mob Boss Bugsy Siegel, Who 'Invented' Las Vegas, Was a Rich Man in 1920s; What Was His Net Worth?

What was Bugsy Siegel's Net Worth?

American mobster Benjamin "Bugsy" Siegel had a net worth of $8 million at the time of his death in 1947, same as around $100 million in today’s dollars, per Celebrity Net Worth. Siegel was one of the most infamous and feared gangsters of his time and known to be one of the driving forces behind the development of the Las Vegas Strip.

As per reports, Siegel hated the nickname ''Bugsy'' as it was based on the slang term "bugs", meaning "crazy".

He associated with other renowned mobsters like “Lucky'' Luciano, Meyer Lansky and Al Capone. Siegel was shot dead in 1947, and was later immortalised by Warren Beatty in his Oscar–winning 1991 movie “Bugsy.”

Bugsy Siegel’s Rise as a Mobster

Siegel was born as Benjamin Siegel in Brooklyn, New York City in a poor Jewish immigrant family. He got into crime early in life, leaving school to join a gang on Manhattan's Lower East Side. He was involved in petty thefts before he met Moe Sedway with whom he launched a protection racket. Siegel's crime graph progressed as he racked up charges including armed robbery, murder, and rape, per Celebrity Net Worth.

As the Prohibition was announced, Siegel was recruited by mobster Meyer Lansky to form the gang the “Bugs and Meyer Mob”. In the 1920s, they worked with Charles "Lucky" Luciano and Frank Costello. They further recruited skilled gunmen and facilitated illegal gambling operations.

After the assassination of mob boss Salvatore Maranzano, Luciano created the criminal alliance, the National Crime Syndicate. Siegel and Lansky then disbanded the Bugs and Meyer Mob and co-founded Murder, Inc., the enforcement arm of the Syndicate. They carried out several murders between 1929 and 1941.

Siegel’s most notable involvements was in the killings of the Fabrizzo brothers, rival loan sharks Louis and Joseph Amberg, and Harry Greenberg for which he was jailed and later acquitted on account of lack of evidence in 1942.

Siegel also started a drug trade route from Mexico and took control of several offshore casinos and a prominent prostitution ring. He further associated with such celebrities and major studio executives such as Jack Warner and Louis B. Mayer.

In the mid-40s, he relocated to Las Vegas, and discovered opportunities for gambling. He took control of the Flamingo Hotel from William R. Wilkerson, who was forced into the sale under threat of death.

However, by early 1947, the Flamingo shut down and Siegel got a second chance as he carried out renovations to reopen The Flamingo. 

Personal Life

Siegel married his childhood sweetheart Esta Krakower in early 1929 and had two daughters with her. However, they divorced in 1946 due to Siegel's prolific womanizing. He was romantically involved with actress Wendy Barrie and fellow crime figure Virginia Hill.

Death of Bugsy Siegel

On June 20, 1947, Siegel was shot by a sniper multiple times through a window while he was sitting with his associate Allen Smiley in the Beverly Hills home of Virginia Hill. He was killed instantly and the killer was never identified. His death was publicized in papers across the country, and his connection to Vegas propelled the city into the national spotlight.

Recently, the Beverly Hills mansion where Bugsy was shot, was listed on the market for sale for a whopping $17 million, as per the LA Times. The Spanish-style estate features three stories of luxurious living area spread across over 7,000 square feet.

FAQs

How old was Bugsy Siegel when he died?

Bugsy Siegel died at the age of 41.

Who started Las Vegas gambling?

Gangster Bugsy Siegel, byname of Benjamin Siegel, played an instrumental role in the initial development of Las Vegas gambling.

What was Bugsy Siegel’s net worth when he died?

Benjamin "Bugsy" Siegel had a net worth of $8 million at the time of his death in 1947, same as around $100 million in today’s dollars.