John Gotti Net Worth
John Gotti had a peak net worth of $30 million during his lifetime. John Gotti, also known as ‘The Teflon Don,’ was an organized crime leader who became head of the Gambino family. It is estimated that the Gambino family earned more than $500 million from illegal activities such as gambling, drug trafficking, extortion, and stock fraud while Gotti was in charge.
Before becoming the head of the Gambino crime family, John Gotti had several run-ins with the law, including a four-year prison sentence for manslaughter. Gotti, nicknamed “Teflon Don” because of his ability to avoid capture, was eventually convicted on multiple criminal counts and sentenced to life in prison. He passed away on June 10, 2002.
To calculate the net worth of John Gotti, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$30 Million|
|Monthly Salary:||$300 Thousand|
|Annual Income:||$7 Million|
|Source of Wealth:||Mafioso|
Gotti was born in the South Bronx, New York, on October 27, 1940. Fannie Gotti, the mother, and J. Joseph Gotti, the father, were both Italian immigrants. Gotti was the fifth of 13 children in a family whose sole source of income was their father’s erratic work as a day laborer. Gotti and his family moved frequently before settling in East New York, a gang-infested neighborhood at the time.
Gotti was working as an errand boy for Carmine Fatico’s underground club in the neighborhood by the age of 12. Fatico was a captain in the local Gambino family, the largest of New York City’s five organized crime families. Gotti met Aniello Dellacroce, who became his lifelong mentor, through his club activities.
Gotti quickly rose to prominence as the leader of the Fulton-Rockaway Boys, a gang known for frequent robberies and carjackings. Gotti’s toes were crushed when he was 14 years old while attempting to steal a cement mixer.
The accident gave the aspiring mobster his signature gait and earned him another petty crime on his record. He was a bully and a constant discipline issue at Franklin K. Lane High School until he dropped out at the age of 16. Gotti was ranked as a low-level associate in the Fatico crew by the police department by the age of 18.
Gambino Crime Family
Between 1957 and 1961, Gotti lived a full-time criminal life. He was arrested for street fighting, public intoxication, and car theft. Gotti had been arrested five times by the age of 21 but had spent only a few days in jail.
Gotti married Victoria DiGiorgio, then 17, on March 6, 1962. DiGiorgio had already given birth to their first child, Angela, and was pregnant with their second at the time of their marriage. During the early years of their marriage, the couple fought frequently and divorced several times. Gotti briefly worked legitimate jobs for the sake of his family, first as a presser in a coat factory and then as a truck driver’s assistant.
His crime-free life, however, was brief, and Gotti was imprisoned twice by 1966. When he and his family relocated to Ozone Park in Queens, New York, he quickly became a key member of the Gambino hijacking crew. Gotti received his first major sentence in 1968, when the FBI charged him and two accomplices with cargo theft near John F. Kennedy Airport. All three men were convicted of hijacking and sentenced to prison terms of three years.
Bergin Hunt and Fish Club
While Gotti served his time, the Fatico crew moved from East New York to a storefront near Gotti’s home in Queens. The group’s headquarters was disguised as a non-profit organization called the Bergin Hunt and Fish Club. After his release from prison in 1971, Gotti was designated as the temporary leader of Fatico’s gang while the captain faced loan-sharking charges.
First Murder: Jimmy McBratney
While captain of Fatico’s crew in May 1973, Gotti committed his first murder: the shooting death of Jimmy McBratney, a rival gang member who kidnapped and murdered a Gambino family member. Gotti was dispatched to exact vengeance, but he was less than discreet, leaving multiple witnesses at the crime scene.
In 1974, Gotti was arrested after several bystanders recognized him in a photo line-up. Gotti reached an agreement with the court three years later during his trial. In exchange for pleading guilty to attempted manslaughter, he received only four years in prison.
Carlo Gambino, the head of the Gambino family, died in 1976. Gambino chose to delegate authority over the family to his brother-in-law, Paul Castellano. In a show of good faith, Castellano allowed Dellacroce to remain the family’s underboss, giving him command of ten of the 23 Gambino crews. When Gotti was released from prison in 1977, Dellacroce appointed him captain of the Bergin crew.
Death of Frank Gotti
Personal tragedy struck the Gotti family in March 1980, when 12-year-old Frank, Gotti’s youngest son, was hit by a car driven by neighbor John Favara after he steered his bike into traffic. Although the death was ruled an accident, witnesses claim Gotti’s wife, Victoria, later attacked Favara with a metal baseball bat, sending him to the hospital. Favara made the decision not to press charges.
According to witnesses, Favara faced death threats for four months before being clubbed over the head and shoved into a van on July 28, 1980. His body was never discovered. Gotti and his family were on vacation in Florida at the time of their neighbor’s disappearance, and they deny knowing anything about his whereabouts.
By the early 1980s, Gotti’s prominence within the Gambino family had drawn the ire of mob boss Castellano. He saw Gotti’s $30,000-per-night gambling habit as a liability, and he despised the Bergin captain’s unpredictable behavior. Gotti’s activities drew the attention of federal agents, who installed surveillance equipment in the Bergin club in 1981, unbeknownst to the mobster and his crew.
The FBI had gathered enough evidence by 1985 to indict Gotti and Dellacroce on federal racketeering charges. Other associates were charged with heroin trafficking. The drug charges enraged Castellano, who sentenced illegal drug trafficking to death. Gotti, as captain, was well aware that he would be held accountable for the actions of his crew. Gotti asked Dellacroce to speak with Castellano on his behalf in order to smooth over the situation.
Dellacroce died of cancer before an agreement could be reached. When Castellano did not attend Dellacroce’s funeral, all goodwill between the two men was lost. Gotti saw the behavior as disrespectful and decided to take action, according to later testimony. Castellano was gunned down outside Sparks Steak House in Manhattan two weeks later, on December 16, 1985. Soon after, Gotti was promoted to boss.
Gotti had become a local hero and icon in his Howard Beach neighborhood by August 1986. When it came time for Gotti and the other defendants to stand trial on racketeering charges, they were acquitted. Later, FBI agents discovered that the jury foreman had fixed the verdict. Law enforcement officials suffered a crushing defeat, and Gotti became the mob’s symbol of invincibility, earning the moniker “Teflon Don” because charges against him “just wouldn’t stick.”
The FBI then made Gotti’s conviction into an organizational crusade. On April 2, 1992, Gotti was convicted of murder and racketeering after pressuring the Gambino family’s new underboss, Sammy Gravano, to testify against him.
Gotti was sentenced to life in prison without the possibility of parole as a repeat offender and was sent to the federal prison in Marion, Illinois. After his imprisonment, he appointed his eldest son, John “Junior” Gotti, as acting boss of the Gambino family, according to federal prosecutors. His son pleaded guilty to racketeering charges in 1999 and was sentenced to six years in prison.
Gotti was imprisoned until his death in a federal prison hospital on June 10, 2002, as a result of complications from head and neck cancer.
The Gotti Family, who were forbidden by the Diocese of Brooklyn from holding a funeral mass for the mobster, held a ceremony in Queens with 200 friends and family. Following the brief ceremony, a motorcade of 75 limousines drove past Gotti’s favorite haunts in front of 200-300 onlookers. Gotti was buried alongside his son Frank in St. John’s Cemetery.
In June 2018, Gotti, starring John Travolta as the mobster, was released. The film faced a number of challenges, including finding the right director and going through nearly four dozen producers.
Related Lists of Celebrities’ Net Worth
- Businessmen Net Worth
- Actors Net Worth
- Authors Net Worth
- Athletes Net Worth
- Singers Net Worth
- Rappers Net Worth
- Politicians Net Worth
Who Are The 30 Richest People In The World?
The list of the world’s richest people can change from year to year, depending on their current net worth and financial performance. Here is the current list of the 30 richest people in the world, based on the latest Forbes list, and some interesting facts about each of them.