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Bugsy Siegel: The Mobster Behind the Flamingo and His $8 Million Net Worth

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Benjamin “Bugsy” Siegel, a notorious gangster and one of the most influential figures in organized crime history, left an indelible mark on the underworld and the iconic city of Las Vegas.

Known for his ruthless behaviour, lavish lifestyle, and role in shaping the Las Vegas Strip, Siegel’s story is as fascinating as it is tragic.

From bootlegging to orchestrating murders, his rise to power was as fast as his fall, ending with an unsolved murder that sent shockwaves through the criminal world.

Bugsy Siegel Biography

Full NameBenjamin “Bugsy” Siegel
BornFebruary 28, 1906
BirthplaceBrooklyn, New York City
ParentsMax Siegel (father), Jennie Siegel (mother)
OccupationMobster, Businessman, Las Vegas Developer
SpouseEsta Krakower (m. 1929–1946)
Children2 daughters (Millicent and Barbara)
Net Worth (at death)$8 million (~$100 million today)
Cause of DeathShot by a sniper (June 20, 1947)
Location of DeathBeverly Hills, California
Known ForFounding Murder, Inc., Influence in Las Vegas, Flamingo Hotel development

The Early Days: A Life of Crime

Bugsy Siegel was born on February 28, 1906, in Brooklyn, New York, to Jewish immigrants. Growing up in poverty, Siegel quickly became disillusioned with school and turned to a life of crime.

As a teenager, he joined a gang on the Lower East Side and began committing petty thefts. His criminal career blossomed as he became involved in armed robbery, murder, and racketeering.

By the early 1920s, Siegel joined forces with Meyer Lansky, another rising star in the criminal world. Together, they formed the Bugs and Meyer Mob, a Jewish-American gang that engaged in bootlegging and illegal gambling.

The group’s power expanded rapidly, and by the end of the decade, Siegel was collaborating with major figures like Charles “Lucky” Luciano and Frank Costello, cementing his place in the Mafia hierarchy.

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Key Members of Murder, Inc.Role in Organized Crime
Bugsy SiegelHitman, Racket Boss
Meyer LanskyFinancial Strategist
Abe “Kid Twist” RelesNotorious Hitman
Louis “Lepke” BuchalterSyndicate Leader

A Career Built on Blood

Siegel’s criminal activity during this period involved numerous murders, including the killings of rival loan sharks and criminals who dared to challenge him. 

In 1939, he was implicated in the murder of Harry Greenberg but was acquitted in 1942 due to lack of evidence. 

Despite his violent reputation, Siegel continued to rise within the Mafia ranks, gaining more power and wealth.

Relocation to Los Angeles

In the late 1930s, under pressure from rivals, Siegel moved to California, where he expanded his criminal empire into new territory. 

He partnered with local mobsters Jack Dragna and Mickey Cohen to control gambling and illegal operations in Los Angeles. 

At the same time, Siegel’s ties to Hollywood grew as he mingled with movie stars and executives, including Clark Gable, Cary Grant, and Louis B. Mayer.

Siegel’s Hollywood ConnectionsNotable Figures in Hollywood
Clark GableActor, Friend
Cary GrantActor, Associate
Mickey CohenMobster, Associate
Louis B. MayerMGM Head, Hollywood Exec

Siegel’s Hollywood Fame

Despite his criminal behavior, Siegel was well-known in Hollywood circles. He often borrowed money from movie stars and studio executives, though he was notorious for failing to pay them back. 

His charm and ruthlessness gave him access to the upper echelons of society, blurring the line between gangster and celebrity.

The Birth of the Flamingo

In the 1940s, Siegel set his sights on Las Vegas, where he saw an opportunity to capitalize on the city’s growing gambling scene. 

He took control of the Flamingo Hotel, which was originally owned by William R. Wilkerson. 

After using threats of violence to coerce Wilkerson into selling, Siegel took over the hotel and attempted to make it a profitable venture. However, the hotel faced numerous problems, including construction delays, unfinished rooms, and poor public relations.

Key Issues with the FlamingoImpact on Siegel’s Career
Construction DelaysHotel faced significant setbacks
Unfinished Luxury RoomsCreated negative publicity
Bad WeatherHindered operations

Success Amid Failure

Despite the hotel’s rocky start, Siegel remained committed to making it a success. He oversaw renovations, attracted new investors, and worked to turn the Flamingo into a glamorous destination. 

The hotel eventually turned a profit, solidifying Siegel’s legacy in Las Vegas history.

A Family Torn Apart

Bugsy Siegel married his childhood sweetheart, Esta Krakower, in 1929. The couple had two daughters, Millicent and Barbara, but their marriage crumbled due to Siegel’s numerous affairs and criminal behavior. The couple divorced in 1946, just one year before Siegel’s death.

The Murder of Bugsy Siegel

On June 20, 1947, Siegel was sitting in the Beverly Hills home of his girlfriend, Virginia Hill, when he was shot and killed by a sniper. 

The assassin fired several rounds through the window, killing Siegel instantly. His death shocked the nation, and the identity of the killer remains unknown to this day.

A Mob Legend

Despite his violent and tumultuous life, Bugsy Siegel’s influence on Las Vegas is undeniable. 

His vision for the Flamingo Hotel laid the foundation for the development of the Las Vegas Strip, transforming the city into a global gambling hub.

Today, the Flamingo remains one of the most iconic hotels in Las Vegas, a testament to Siegel’s lasting impact.

A Mobster Remembered

Siegel’s story is one of ambition, betrayal, and tragedy. He was a gangster with a vision, a businessman with ties to organized crime, and a Hollywood figure who mingled with the stars. 

Though his life ended violently, Bugsy Siegel’s legacy continues to shape the city of Las Vegas and the world of organized crime.

Conclusion: The Impact of Bugsy Siegel

Bugsy Siegel’s life was a mixture of brilliance and violence. His criminal career spanned decades, from bootlegging during Prohibition to masterminding the growth of Las Vegas. 

His legacy as a gangster and a businessman is still felt today, and while his life ended in a violent and mysterious way, his influence on Las Vegas and organized crime remains as strong as ever.

People May Ask

1. What was Bugsy Siegel’s net worth at the time of his death?

At the time of his death in 1947, Bugsy Siegel had a net worth of $8 million, which would be approximately $100 million today when adjusted for inflation.

2. How did Bugsy Siegel help shape Las Vegas?

Siegel played a pivotal role in developing Las Vegas by taking control of the Flamingo Hotel. His efforts helped turn the hotel into a profitable venture and laid the groundwork for the Las Vegas Strip as a major gambling destination.

3. What was Murder, Inc., and what was Siegel’s role in it?

Murder, Inc. was the enforcement arm of the National Crime Syndicate, responsible for carrying out murders on behalf of the Syndicate. Siegel was one of its key members, known for his involvement in several high-profile hits.

4. Who killed Bugsy Siegel?

The identity of the person who killed Bugsy Siegel remains unknown. He was shot and killed by a sniper in Beverly Hills on June 20, 1947.

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