Frank Lucas was an American crime boss and drug lord who had a net worth of 500,000 by the time of his death. The late crime boss made most of his fortune through his illegal activities, which mainly involved the sale of heroin. Some people may not understand how the late crime boss died with a meager net worth of 500, 000. Frank Lucas made a lot of money through his drug trafficking business. He even claimed that he used to make up to one million dollars a day. This figure might be exaggerated, but he used to make a lot of money.
Early Life
Frank Lucas was born in La Grange, North Carolina, which mainly consisted of Black Americans. Given this predisposition, it was only a matter of time before Lucas would start engaging in petty crimes. At the age of 12, his cousin was killed by the Ku Klux, and this fueled him to engage in criminal activities. After some time, he was in a quarrel with a former employer; he hit him on the head and left him unconscious. He ran away to Harlem, New York, where Bumpy Johnson took him under his wing.
Criminal Career
In Harlem, Frank used to take part in petty crimes, and after the death of Bumpy Johnson, he traveled around the US and some parts of the world. He realized if he wanted to be rich, he had to take matters into his own hands. He continued with the drug business but eliminated the middlemen. He also collaborated with US army officers so that he could transport heroin from Asia in “coffins” His business was blossoming until his arrest in 1975.
Sources of Income
Frank Lucas’s main source of income who his drug trafficking business. He used to get one kilo for around 4000 and then sell it for over a hundred thousand dollars. Besides, he did away with the middlemen, and as such, all the profits went to him. Furthermore, he did not trust anyone except his family members and such, his family and other trusted generals were the only ones who helped him sell heroin.
Besides his illegal drug business, Frank had other businesses. He had opened several gas stations and dry cleaners in America in an attempt to try and clean the drug money.
What Happened to His Wealth
Frank Lucas had made a fortune through his drug business. As mentioned, he used to make thousands of dollars from one kilo of heroin. He became so rich, such that he began purchasing properties all over the United States. However, all of his properties were seized by the authorities during his arrest in the 1970s. The authorities claimed that he had a net worth of 52 million dollars in the 1970s, which would translate to over 200 million dollars today.
After the authorities seized his properties, Frank Lucas became bankrupt, and he was going through a lot of financial troubles. Even after his release from prison, things were not any better as the former millionaire was struggling financially.
