• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
NewslettersFortune Archives

Fortune Archives: The ‘50 Biggest Mafia Bosses’ of 1986

By
Joey Abrams
Joey Abrams
Associate Production Editor
Down Arrow Button Icon
By
Joey Abrams
Joey Abrams
Associate Production Editor
Down Arrow Button Icon
July 13, 2025, 7:00 AM ET
Anthony "Fat Tony" Salerno
Anthony "Fat Tony" Salerno, No. 1 on the 50 Biggest Mafia Bosses published by Fortune in the 1980's.Harry Hamburg—NY Daily News Archive/Getty Images
Add Fortune on Google for similar content.

“Let me make this clear: This is a silly article.”

Recommended Video

That’s how former mobster Michael Franzese described Fortune’s November 1986 list of the “50 Biggest Mafia Bosses” in a 2020 YouTube video, while holding up a copy of the issue. The list ranked the most influential figures in America’s Italian Mafia—an underworld that Fortune reporter Roy Rowan estimated to then be worth $50 billion, based on what could be ascertained about its “wealth, power, and influence.”

In many ways the list resembles Fortune’s other rankings of corporate bigwigs. Rowan even compares former Chicago boss Anthony “Joe Batters” Accardo (No. 2 on the list) to “many a chief executive lately,” as Accardo was brought out of retirement to intervene in a Mafia management crisis. More out of character for the magazine, however, are the columns describing legal status and sources of income that range from “construction” and “vending machines” to “bootleg gasoline” and “topless bars.”

At the top of the list was Anthony “Fat Tony” Salerno, then the boss of the Genovese family, who was facing racketeering charges at the time. Just over a week after the list hit newsstands, Salerno was sentenced to 100 years in prison, where he died about six years later.

Franzese, then a capo in the Colombo family and the youngest man on the list—Rowan described him as “a true yuppie” and “a fast-talking 35-year-old businessman”—was ranked No. 18. He had been indicted and charged in an elaborate scheme to funnel millions of dollars to the family by scamming New York, New Jersey, and Florida out of gasoline taxes. Franzese pleaded guilty to racketeering and conspiracy charges in 1986 for crimes including tax and insurance fraud.

In his 2020 video, Franzese recalls the first time he saw the Fortune article, while incarcerated at Fort Dix in New Jersey: A prison lieutenant called on Franzese and tossed the magazine to him, angry about the publicity.

“I don’t want any Mafia bosses taking over my prison,” Franzese remembers the lieutenant saying. He protested that he couldn’t control what was written about him, but it didn’t matter—Franzese was put in lockdown for two weeks, he said.

In his video, Franzese quibbles with some of Rowan’s choices, and makes it clear he didn’t see the list “as a badge of honor or courage or anything like that.”

After leaving the Mafia in 1995—a year after his release from prison—Franzese began speaking publicly about his past at schools, prisons, churches, and now on his social media channels, warning against getting involved in organized crime. He points to the Fortune list as a cautionary tale: “The sad thing about this list right here,” he said, is “I believe 46 or 47 of them are dead.” (Even at the time of publication, only 24 were described as “free.”)

Nearly 40 years later, it’s not just members of the list who have faded away, but in large part the cultural and financial pull of the traditional Italian Mafia as well. As Franzese says, “You can’t get away with this stuff anymore.” That’s not to say that organized crime doesn’t still operate behind the scenes: Transnational groups continue to traffic and run rackets, but they’re more likely to be lurking behind computer screens doing cyber scams than lounging in social clubs.

As for Franzese, he seems to be thriving as an online influencer: He has 1.7 million YouTube followers, and opines on topics ranging from the RICO charges against the music mogul Sean “Diddy” Combs to the U.S. bombing of Iran.

This is the web version of the Fortune Archives newsletter, which unearths the Fortune stories that have had a lasting impact on business and culture between 1930 and today. Subscribe to receive it for free in your inbox every Sunday morning.
About the Author
By Joey AbramsAssociate Production Editor

Joey Abrams is the associate production editor at Fortune.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Newsletters

Kim Ng broke barriers in baseball. Now she’s giving pro softball its biggest stage yet
NewslettersMPW Daily
Kim Ng broke barriers in baseball. Now she’s giving pro softball its biggest stage yet
By Emma HinchliffeJuly 24, 2026
22 hours ago
Inside Larry Culp’s playbook for fixing GE
NewslettersCFO Daily
Inside Larry Culp’s playbook for fixing GE
By Sheryl EstradaJuly 24, 2026
1 day ago
Three people sitting on stairs
Startups & VentureTerm Sheet
Neo raises $100 million to hunt the zombie AI agents haunting your company
By Amanda GerutJuly 24, 2026
1 day ago
U.S. Rep. Ted Lieu (D-CA) during the Democratic National Convention on August 22, 2024 in Chicago, Illinois. (Photo: Justin Sullivan/Getty Images)
NewslettersFortune Tech
An ‘AI Kill Switch Act,’ engaged
By Andrew NuscaJuly 24, 2026
1 day ago
Photo: President Trump.
NewslettersMarkets
Trump weighs ‘massive attack’ on Iran as Tehran’s chokehold on oil gets tighter
By Jim EdwardsJuly 24, 2026
1 day ago
From near-collapse to $689 billion: Inside Larry Culp’s turnaround of GE
NewslettersCEO Daily
From near-collapse to $689 billion: Inside Larry Culp’s turnaround of GE
By Shawn TullyJuly 24, 2026
1 day ago

Most Popular

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
1 day ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
1 day ago
Current price of silver as of Friday, July 24, 2025
Personal Finance
Current price of silver as of Friday, July 24, 2025
By Joseph HostetlerJuly 24, 2026
1 day ago
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
AI
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
By Mia OsmonbekovJuly 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.