| Information | Details |
|---|---|
| Net Worth | $75 million |
| Salary | N/A |
| Birthdate | November 1904 |
| Birthplace | Grayson County, Texas |
| Gender | Male |
| Height | N/A |
| Profession | Businessman, Entrepreneur, Mob Boss |
| Nationality | American |
What is Benny Binion’s Net Worth?
Benny Binion had a net worth of $75 million at the time of his death. Born in Grayson County, Texas in November 1904, Binion was an American businessman, entrepreneur, and mob boss. He passed away in December 1989 at the age of 85.
Highlights
– Benny Binion’s net worth at the time of his death was $75 million.
– He was a prominent figure in the gambling industry and played a significant role in the development of Las Vegas.
– Binion was the founder of Binion’s Horseshoe, a famous casino in downtown Las Vegas.
– He was inducted into the Poker Hall of Fame in 1990.
Early Life
Benny Binion was born in Grayson County, Texas in November 1904. At the age of 17, he moved to El Paso, Texas, where he began engaging in moonshining activities. As a result, he was convicted twice. It was during his time in El Paso that he learned about gambling and developed a passion for it.
Career
Binion’s career in gambling started to take off when he moved to Dallas, Texas. By the early 1940s, he became the reigning mob boss in Dallas and took control of gambling operations in Fort Worth as well. However, his involvement in criminal activities led to legal troubles, including the conviction for murdering an African American rum-runner named Frank Bolding and the killing of Ben Frieden.
In 1946, Binion fled to Las Vegas, Nevada, where he purchased the Las Vegas Club building and transformed it into the Westerner Gambling House and Saloon. He also acquired the Eldorado Club and the Apache Hotel, converting them into Binion’s Horseshoe casino.
Despite his success, Binion’s gambling license was revoked in 1951, and he was sentenced to five years in prison for tax evasion in 1953. To cover his legal costs, he had to sell his casino share. However, his family eventually regained control of the casino.
Personal Life
Benny Binion was married to his wife Teddy Jane and together they had five children. He passed away on December 25, 1989, at the age of 85, due to heart failure.
Net Worth Over Time
Benny Binion accumulated his net worth primarily through his involvement in the gambling industry. However, his wealth fluctuated over time due to legal issues and the need to cover significant legal expenses.
Components of Net Worth
Benny Binion’s net worth was primarily derived from his ownership of various casinos, including Binion’s Horseshoe in Las Vegas. Additionally, his involvement in the gambling industry allowed him to generate significant revenue through gambling operations, which contributed to his overall wealth.
Benny Binion in 1952 (Getty)