Bugsy Siegel at a Glance
Bugsy Siegel’s Net Worth: A Deep Dive into the Life and Legacy of a Notorious Gangster
Introduction: The Infamous Bugsy Siegel
Benjamin “Bugsy” Siegel remains one of the most captivating and controversial figures in American history. His name evokes images of glamour, violence, and the early days of organized crime in the United States. At the time of his death in 1947, his net worth was estimated to be $8 million, which, adjusted for inflation, equates to approximately $100 million today. This figure underscores his significant financial success within the criminal underworld. Siegel’s story is a complex tapestry of ambition, ruthlessness, and a peculiar kind of charisma that cemented his place in the annals of gangster lore. His influence spanned the National Crime Syndicate, and he played a pivotal role in developing the Las Vegas Strip, forever changing the landscape of entertainment and gambling.
Early Life and Descent into Crime
Born Benjamin Siegel on February 28, 1906, in Brooklyn, New York City, Bugsy was the second of five children in a poor Jewish immigrant family. His parents, Jennie and Max Siegel, provided a humble upbringing that starkly contrasted with the opulent lifestyle he would later cultivate. His early experiences shaped his trajectory, as he struggled within the conventional structures of education, finding himself restless and drawn to the allure of the streets. By his teenage years, Siegel had abandoned formal schooling, instead joining a local gang on Manhattan’s Lower East Side. Here, he began his criminal career, engaging in petty theft and establishing early associations that would define his future. His criminal record quickly accumulated, reflecting a pattern of escalating offenses, including armed robbery, murder, and rape. These early transgressions foreshadowed the violence and ruthlessness that would characterize his later years.
The Bugs and Meyer Mob: A Criminal Alliance
The early 1920s saw the rise of Prohibition and a surge in organized crime. Meyer Lansky, a prominent mobster, recognized Siegel’s potential and recruited him to form the Jewish-American street gang known as the Bugs and Meyer Mob. This partnership marked a pivotal moment in Siegel’s criminal career, solidifying his ties to the Jewish-American underworld. Together, they built a formidable force that would become instrumental in the operations of the National Crime Syndicate. The Bugs and Meyer Mob aligned themselves with key figures like Charles “Lucky” Luciano and Frank Costello, further expanding their reach and influence. The gang was known for its skilled gunmen, who provided security and carried out hits. They also supplied bootleggers with stolen trucks, facilitated illegal gambling, and handled violent enforcement actions for various bootlegging operations in New York and New Jersey. Their activities disrupted rival Italian-American gangs, thus contributing to their decline.
Murder, Inc.: The Syndicate’s Executioners
The Castellammarese War and the assassination of mob boss Salvatore Maranzano led to the creation of the Commission. This governing body brought together prominent Jewish and Italian gangsters, leading to the establishment of the National Crime Syndicate. Siegel and Lansky capitalized on this new structure, disbanding the Bugs and Meyer Mob and co-founding Murder, Inc., the Syndicate’s brutal enforcement arm. Murder, Inc. became infamous for its efficiency in eliminating threats and rivals. Its activities spanned from 1929 to 1941. During his tenure with Murder, Inc., Siegel faced only one conviction—for gambling and vagrancy in Miami in 1932. Siegel also engaged in personal vendettas and disputes. In one particularly brutal incident, Siegel hunted down and killed the Fabrizzo brothers, who had attempted to assassinate him in retaliation for Siegel sending their boss, Waxey Gordon, to prison. He was also implicated in the murders of rival loan sharks Louis and Joseph Amberg in 1935, and he played a role in the 1939 killing of Harry Greenberg. However, he was acquitted in the latter case due to insufficient evidence in 1942.
Move to California: Hollywood and the West Coast Rackets
Under the serious threat of reprisal, Siegel was sent to California in the late 1930s. In Los Angeles, he quickly established himself, developing various gambling rackets. His alliance with Jack Dragna and Mickey Cohen helped expand his influence within the West Coast criminal landscape. The money he made in these ventures was then used to help start a drug trade route from Mexico, expanding his criminal empire. Siegel also built up his profile, becoming a celebrity. He associated with Clark Gable, Cary Grant, and Gary Cooper. He also associated with major studio executives such as Jack Warner and Louis B. Mayer. Siegel was notorious for taking loans from movie stars without paying them back.
Las Vegas: Building the Flamingo and Shaping a City
Siegel’s move to Las Vegas in the mid-1940s marked a turning point in his career and, arguably, the history of the city itself. Recognizing the vast potential for gambling in the desert oasis, Siegel took control of the Flamingo Hotel. He strong-armed William R. Wilkerson into the sale under threat of death. The Flamingo became the heart of Siegel’s ambitions, though its initial launch was fraught with challenges. Construction noise, air conditioning failures, unfinished rooms, and bad weather hampered its early success. The Flamingo briefly shut down early in 1947, but Siegel, ever the opportunist, orchestrated renovations and launched a renewed public relations campaign. The hotel reopened a few months later and began to turn a profit, signifying Siegel’s significant contribution to Las Vegas’s rise as a gambling destination.
Personal Life and Death: The End of an Era
Siegel’s personal life was as turbulent as his criminal endeavors. He married Esta Krakower, his childhood sweetheart, in 1929. They had two daughters, Millicent and Barbara. However, the couple’s relationship was strained by Siegel’s extensive womanizing, leading to a divorce in 1946. During the 1940s, Siegel was romantically linked to actress Wendy Barrie and, notably, to Virginia Hill, an organized crime figure. On June 20, 1947, the world of Bugsy Siegel came to a violent end. While sitting in Virginia Hill’s Beverly Hills mansion with his associate Allen Smiley, a sniper shot Siegel multiple times through a window. He died instantly. The killer was never identified, and no charges were filed. The publication of his corpse’s photos in newspapers across the nation thrust Las Vegas into the national spotlight, forever linking Siegel’s legacy with the city he helped to build.
Legacy: Bugsy Siegel in Popular Culture
Bugsy Siegel’s persona as one of the first “celebrity” gangsters has solidified his place in popular culture. He remains a mythic figure, captivating the imagination of audiences worldwide. Siegel’s life and death have been portrayed extensively in movies and television shows. Warren Beatty’s 1991 biographical drama “Bugsy,” in which Beatty played Siegel, provided an iconic depiction of the gangster. He has also been featured in television series such as “Boardwalk Empire,” “Mob City,” and “The Making of the Mob: New York.” These portrayals helped cement his place in popular culture, transforming him from a criminal into a cultural icon.
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Conclusion
Bugsy Siegel’s life and death remain a fascinating study in ambition, power, and the allure of the criminal underworld. From his humble beginnings in Brooklyn to his rise as a key figure in the National Crime Syndicate and his pivotal role in the development of Las Vegas, Siegel’s story is a compelling narrative of the American dream gone awry. His legacy continues to fascinate, cementing his status as one of the most iconic gangsters in history. Siegel’s impact on popular culture and the urban landscape is undeniable, with his name and image forever associated with the glitz and violence of the early 20th century.