Frank Lucas net worth
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What is Frank Lucas’ net worth?
Frank Lucas is a former heroin drug dealer and organized gang boss in the United States. At the time of his death in 2019, he had a net worth of US$500,000. Although Lucas was already a legend before the release of “American Gangster”, Hollywood movies introduced his life story to millions of movie audiences around the world. However, this movie may not accurately reflect his life and criminal achievements. In recent years, Frank stated that many of his statements have been exaggerated. Even with this in mind, Lucas may have made hundreds of millions of dollars when his criminal activity reached its peak.
He was famous for distributing Thai heroin in the United States during the Vietnam War. Although Hollywood producers romanticized his life, when he flooded these areas with drugs, Frank had a terrible impact on low-income communities. When Lucas was finally arrested and put on trial, the chief prosecutor famously said: “Frank Lucas may have destroyed more black lives than KKK could only dream of.”
early life
Frank Lucas was born on September 9, 1930 in La Grange, North Carolina. He claimed that his 12-year-old cousin was murdered by KKK, which prompted him to start a criminal life. At the age of 15, he hit a man in the head with a pipe, then stole $400, ignited the man’s business, and fled to New York.
Frank settled in Harlem, where he wandered in the billiard hall, selling drugs, and engaged in petty crimes such as robbery. By the mid-1960s, after hitting a highly dangerous drug dealer in the head four times, he had established a position that he could not ignore-although this story was later questioned. Lucas also claimed that he was controlled by a famous gangster named Ellsworth Johnson, although some people also doubt the truth of this story.
Criminal career
It seems clear that after Johnson’s death, Lucas seemed to fill the void left by the suspect. He began to build his own criminal empire, which immediately brought him into conflict with the Italian mob. At this point, the Italians basically run New York, which includes the heroin trade. Lucas went to Thailand and established contact with a local heroin supplier. He was able to purchase heroin at a price of US$4,300 per kilogram. On the streets of New York, the street value of a kilogram is 300,000 US dollars.
He also established contact with black soldiers in the U.S. Army and developed a plan to hide several kilograms of heroin in the coffins of the deceased soldiers. However, Frank later stated that he did not actually hide the heroin with the corpse, and that he had a carpenter make a fake coffin that had not actually contained any corpses from the beginning. Regardless of his exact smuggling method, Lucas succeeded in flooding the streets with an almost pure form of heroin called “blue magic.” During this period, Frank became very rich. He also passed by many well-known celebrities.
Frank Lucas via Nightscream/wikimedia/creative commons
arrest
In 1975, Lucas was arrested at his home in New Jersey. The police found $584,000 in cash in the residence and he was convicted of federal drug charges in New York. In the end, he was sentenced to 70 years in prison. Once he was convicted, Lucas agreed to provide evidence that led to the arrest of a large number of other drug dealers.
This led to a reduction in sentence and Frank was included in the witness protection plan. Incredibly, Lucas was captured again in 1984 and sentenced to seven years in prison. In 2010, Frank was arrested for the third time after trying to sell two kilograms of cocaine to an undercover FBI informant.
Highest yield
When his drug empire reached its peak in the early 1970s, Frank’s organization was more like a Fortune 500 conglomerate. Lucas once boasted that he earned $1 million a day during this period, which is equivalent to $6 million a day in today’s money. Although these may be a bit of exaggeration, Frank undoubtedly made a lot of money.
In the 1970s, DEA agents estimated that his personal net worth was US$52 million, most of which were hidden in banks in the Cayman Islands. At his peak, he owned properties around the world, including apartments in Los Angeles, commercial office space in Detroit, and 7,000 acres of ranch in North Carolina. When DEA agents raided his home in New Jersey in 1975, they found nearly $600,000 in cash, which is equivalent to today’s $3.6 million. In addition to the $52 million hidden in the banks of the Cayman Islands, Frank also stored $300 million in heroin.
pass through
Frank Lucas died on May 30, 2019 in Cedar Grove, New Jersey. He was 88 years old and could only sit in a wheelchair in his later years. Lucas has also expressed regret in the past few years, encouraging young people to stay in school and get “the highest education degree you can get.”
American Gangs
In 2007, the movie “American Gangster” was released. Starring Denzel Washington and Russell Crowe, the film depicts Lucas’ story and journey as a drug lord. Frank directly participated in the production of the film and was paid as a consultant. During many shooting sessions, Lucas was giving Denzel some small details, such as how to carry a gun. In a later interview with MSNBC, Frank admitted that the film was mainly fabricated, with only a few details adapted from his real experience.
