He moved to New York City, going on to win the United States flyweight title in 1962, 1963 and 1964. He was inducted into the National Wrestling Hall of Fame in 1995.

After he received his associate degree in management in 1963, he used the $10,000 he had saved from the ice cream business to convince his father to co-invest in the first Benihana, a four-table teppanyaki restaurant on West 56th Street. “Benihana”, taken from the Japanese name for safflower, was suggested by Aoki’s father. According to family legend, Aoki’s father was walking through the bombed-out ruins of post-war Tokyo when he happened across a single red safflower growing in the rubble.

In 1973, Aoki launched Genesis, a softcore pornographic men’s magazine. The title changed hands several times, eventually becoming an explicit publication long after Aoki’s period of ownership. Despite not enjoying the mainstream popularity of rivals Playboy and Penthouse, the magazine remained in activity for nearly 40 years.

Aoki partially funded and crewed the Double Eagle V, the first balloon to successfully cross the Pacific Ocean. The Double Eagle V launched from Nagashima, Japan on November 10, 1981, and landed in Mendocino National Forest in California 84 hours and 31 minutes later. It traveled a record 5,768 miles (9,283 km). The Double Eagle V’s four-man crew consisted of Rocky Aoki with Albuquerque balloonists Ben Abruzzo, Larry Newman, and Ron Clark. Overshadowed by the concurrent Space Shuttle mission STS-2, the Double Eagle V failed to attract the same degree of media attention as the earlier Double Eagle flights.

After injuries suffered in a 1982 accident, the Tenafly, New Jersey resident told sportswriters that he was leaving the sport. He was an offshore powerboat racer along with the 1986 APBA world champion Powerboat throttleman Errol Lanier, a former Fort Lauderdale, Florida fireman who saved his life in a near fatal powerboat crash in 1979 under the Golden Gate Bridge.

On June 9, 1998, Aoki was charged with insider trading and profiting by more than $590,000 from it. The U.S. Attorney’s office in Brooklyn, N.Y. charged Aoki with six counts of insider trading and one count of conspiracy based on trading upon inside information about Spectrum Information Technologies Inc. According to the indictment, Aoki learned through Donald Kessler, a former stock promoter, inside information concerning Spectrum’s imminent hiring of John Sculley, then-chairman of Apple Computer Inc., as the chairman of Spectrum, and bought 200,000 shares of Spectrum stock. That stock rose 46% the day that this hiring was publicized.

In 1999, Aoki pleaded guilty to insider trading charges and was fined $500,000 and given three years’ probation. This incident was mentioned briefly in the 2013 Scorsese film “The Wolf of Wall Street”.

His third wife was Keiko Aoki, a businesswoman that he married in 2002. Before his death, he became a United States citizen.

In 2005, he sued four of his children (Grace, Kevin, Kyle, and Echo) for an alleged attempt to take control of the companies he founded, which, at the time, had an estimated value between US$60–100 million.