Frank T. Caprio, a banker, lawyer, and former politician from Rhode Island, is the son of the late Judge Frank Caprio, known as the “nicest judge in the world” from the show “Caught in Providence.”
Frank T. has built his own impressive career, serving as Rhode Island’s General Treasurer and holding other key roles.
Frank T. Caprio was born on May 10, 1966, in Providence, Rhode Island, as the eldest child of Joyce and Judge Frank Caprio.
His father served as the chief judge of Providence’s municipal court for nearly 40 years. The family lived in Narragansett, Rhode Island, where Frank T. grew up.
He attended public high schools there. In 1984, he graduated from Bishop Hendricken High School. This school is known for its strong programs in academics and sports.
Sadly, Frank T. lost his father recently. Judge Frank Caprio passed away on August 19, 2025, at age 88. He had been fighting pancreatic cancer since 2023. He finished his last radiation treatment in May 2024.
But in 2025, he shared a post from his hospital bed about a health setback. He died the next day in Providence. Frank T. and his family mourned the loss of a beloved father and public figure.
Frank T. Went to Harvard College After High School and Earned a Degree in Economics in 1988
Harvard was more than just classes for him, where he shone in sports and became the captain of the Harvard baseball team.
In 1988, he was named an All-Eastern League outfielder. He also played football. In 1987, he was an All-Ivy League defensive back on the championship Harvard football team.
Frank Caprio &Steve Pascucci
— Random College Athletes (@RandomAthletess) July 15, 2021
Harvard, Football 1984-1987 pic.twitter.com/hm6k9Nje4Z
His sports stories are exciting. He played against Roger Clemens in a 1987 exhibition game. Clemens was a famous MLB pitcher. Ted Williams, a Boston Red Sox legend, scouted him. These moments show his talent and drive.
After Harvard, Frank T. studied law. He got a J.D. from Suffolk University Law School in 1991. He passed the bar exams in Rhode Island and Massachusetts. This set him up for a career in law and politics.
Frank T. started in politics young. At 21, while a senior at Harvard, he was elected a delegate from Rhode Island’s 2nd Congressional District.
He attended the 1988 Democratic National Convention in Atlanta. This was his first big step.
In 1990, while still in law school, he won a seat in the Rhode Island House of Representatives, where he represented District 14 in Providence from 1991 to 1995. He served two terms.
Next, he moved to the Rhode Island Senate and served from 1995 to 2007. He represented District 8 from 1995 to 2003 and District 5 from 2003 to 2007.
In the Senate, he held key roles. He chaired the Senate Finance Committee from 2001 to 2002. Later, in 2004, he chaired the Senate Commerce, Housing, and Municipal Government Committee.
He made real changes in 2001; he saved a $5 million affordable housing program from cuts. He then expanded it to $10 million through a bond.
In 2006, he co-sponsored a bill to grow it to a $50 million fund. Voters approved it that year. He also led efforts to phase out Rhode Island’s capital gains tax. This became law in 2007. It gave Rhode Islanders the lowest tax rate in the U.S. on stock and real estate profits.
In 2006, Frank T. ran for General Treasurer of Rhode Island. He won with 73% of the vote. This was the biggest win for any statewide office that year. He served from 2007 to 2011.
He was the first U.S. candidate to use on-demand television in a campaign. He also launched an internet TV channel. His documentary, Caprio, the Biography, aired on Cox Communications.
As Treasurer, he managed tough times. During the 2008 financial crisis, he protected the state’s $8 billion pension fund. He moved $1 billion to safe money market funds and $150 million to Treasury bonds.
This helped keep strong returns. He created a “SWAT team” to handle risks from companies like AIG. A 2010 study praised Rhode Island for low fees to money managers under his watch.
In 2010, he was the Democratic nominee for governor. He ran on helping small businesses. But he lost to Independent Lincoln Chafee.
In 2014, he tried to win back the Treasurer role. He lost the Democratic primary to Seth Magaziner. Magaziner got about 80,378 more votes. It was a big defeat.
Frank T. also chaired the Rhode Island State Investment Commission (SIC). He directed the state’s pension investments.
Outside politics, Frank T. also has a Strong business Side
He has been a partner at Caprio Law Firm since 1991. The firm is in Providence. It handles cases like bodily injury, domestic relations, and criminal defense.
He focused on corporate, tax, and finance law. He worked as in-house counsel for Cookson Group plc, a public company on the London Stock Exchange.
Since 2011, he has been a Managing Director at Chatham Capital Partners Inc., a mezzanine finance firm.
It provides debt and equity to mid-sized companies. The firm has offices in Atlanta, Dallas, and Providence. This role uses his finance skills from being Treasurer.
In 2020, he became a founding partner at Caprio Brothers. Details on this venture are limited, but it appears to be a family business.
Since 2017, he has been an adjunct professor of finance at Providence College School of Business, where he teaches part-time.
Frank T. keeps a low profile personally. He lives in Rhode Island, and he comes from a close family where his brother David Caprio is also a lawyer at the family firm. David served in the Rhode Island House from 1999 to 2010.
Frank T. stays active in community work. His father’s legacy of compassion likely influences him.
Frank T. Caprio’s estimated net worth, based on his career earnings in politics, law, and finance, ranges from $8 million to $12 million, accounting for his steady career and potential family inheritance.
