Jordan Belfort is a convicted felon, author, and former stockbroker. Jordan Belfort’s net worth is currently negative $100 million.
Jordan managed the financial business Stratton Oakmont from 1989 to 1996, orchestrating pump-and-dump operations that robbed innocent victims of hundreds of millions of dollars. Belfort and Danny Porush, the firm’s co-founders, were charged in 1999 on charges of securities fraud and money laundering. They both entered pleas of guilty. In exchange for cooperation with prosecutors, their sentences were lowered.
Jordan published his memoir, “The Wolf of Wall Street,” in 2007. It was adapted into a film of the same name directed by Martin Scorsese and starring Leonardo DiCaprio. The film premiered in 2013. “Boiler Room,” a 2000 film partly based on Belfort and his previous financial business Stratton Oakmont, was loosely based on Belfort.
Regrettably, for moviegoers, Jordan Belfort was never referred to as “the Wolf of Wall Street” during his financial espionage days. Jordan assigned himself that moniker while incarcerated and writing his story. Jordan was allegedly given that name by a 1991 Forbes writer, according to the film. That is not true.
Indeed, the Forbes piece was headlined “Steaks vs. Stocks: What’s the Difference?” — a reference to the fact that Belfort sold steaks and seafood door-to-door on Long Island before becoming a stockbroker. Later in the story,
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Jordan was portrayed as a “twisted Robin Hood” who “robs the wealthy and distributes to himself and his merry band of brokers.” Additionally, the paper defined his business style as “selling risky stocks on unsuspecting investors.”
Something the film glossed over was the fact that many of Jordan’s victims were impoverished. They were impoverished individuals who couldn’t afford to lose the money they had lost.
Jordan stole around $200 million from his victims during his bogus reign of terror. He was forced to pay restitution of $110 million. He has repaid only $10 million as of this writing. As a result, his net worth is negative $100 million.
Jordan Ross Belfort was born on July 9, 1962, in The Bronx, New York. He was raised in a Jewish family in Bayside, Queens. Belfort and a close buddy earned $20,000 over the summer between high school and college by selling Italian ice from coolers to beachgoers. Belfort earned a biology degree from American University. He enrolled in the University of Maryland School of Dentistry. He left after the first day of classes when a faculty member informed him that becoming a dentist was not a path to financial success.
Belfort lived a luxury lifestyle and threw several parties during his tenure at Stratton. He also experimented with recreational drugs, namely methaqualone, and quaaludes.
Belfort divorced his first wife Denise Lombardo during his tenure as CEO of Stratton Oakmont. From 1985 to 1991, they were married.
Tommy Chong was Belfort’s prison cellmate and was instrumental in encouraging him to write “The Wolf of Wall Street.”
In 1991, he married British-born model Nadine Caridi. They were introduced at a party. Chandler and Carter were their two children. They divorced in 2005 after she accused him of domestic violence (most likely exacerbated by drugs).
Belfort acquired the luxury yacht Nadine, which was built in 1961 for Coco Chanel’s legendary couture house. He renamed the yacht following the death of his second wife. In June 1996, the ship sank off the coast of Sardinia.
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The Italian Navy’s Special Forces rescued everyone aboard the yacht. Belfort later admitted that he insisted on sailing the yacht in heavy winds despite the captain’s instructions.
Belfort began dating Anne Koppe in 1928. They exchanged vows in 2015. They are still together but unmarried as of 2020.
Belfort has been compared to Bernie Madoff, the infamous Ponzi scheme culprit.
Belfort makes a brief appearance near the conclusion of “The Wolf of Wall Street.”
Bo Dietl, his former head of security, stated in an interview that he never saw Belfort sober during his time working for him and indicated that Belfort had close contact with the mob.
Belfort was door-to-door meat and seafood vendor in Long Island, New York. His meat-selling firm expanded from a one-man operation to a multi-person enterprise that sold 5,000 pounds of beef and fish each week. He filed for bankruptcy at the age of 25 and found work as a stockbroker trainee at L.F.
Rothschild. Belfort’s initial supervisor allegedly advised him that the keys to success were masturbation, cocaine, and hookers. After the 1987 Black Monday stock market meltdown, he was laid off from this corporation. Despite this setback, Belfort remained smitten with the prospect of earning the kind of money that senior stockbrokers earned.
Belfort worked for several financial firms in the late 1980s, taking up all the knowledge he could. He honed his sales speech and decided to start his firm in 1989.
In the early 1990s, Belfort founded Stratton Oakmont. The firm conducts penny stock trading in a boiler room environment. Belfort defrauded his investors using a pump and dump scheme. Belfort employed over 1,000 stockbrokers and over $1 billion in assets under management at the height of Stratton Oakmont’s boom.
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The National Association of Securities Dealers, on the other hand, was on Belfort and Stratton Oakmont. The association was conducting a thorough examination of the firm’s transactions. Then, in December 1996, Stratton Oakmont was expelled from the National Association of Securities Dealers, and the firm ceased operations.
Belfort is said to have laundered his money through Swiss banks. Both his mother-in-law and his wife’s aunt aided in the money’s smuggling into Switzerland. He reportedly hosted parties featuring midget-tossing contests while operating Stratton Oakmont.
Career in Writing
Belfort authored the memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” which have been published in over forty countries and translated into eighteen languages. The film adaptation of “The Wolf of Wall Street” starred Leonardo DiCaprio, Jonah Hill, and Margot Robbie. The film was directed by Martin Scorsese. He also authored the 2017 book “Way of the Wolf: Become a Master Closer with Straight Line Selling.”
A career in Motivational Speaking
Belfort has reinvented himself as a motivational speaker since his release from prison. He founded Global Motivation, Inc. He traveled approximately three weeks per month, delivering speeches on the value of ethics in business and the significance of learning from failures. In the 1990s, for example, he believed he was justified in violating financial authorities’ rules because a large number of other people did.
A speaking engagement with Belfort will cost between $30,000 and $75,000. To book a sales seminar with him, expect to pay between $80,000 and $100,000. His remarks have received mixed reviews, with critics reacting harshly to his allegations of flouting banking restrictions in the 1990s.
Belfort was indicted in 1999 on charges of securities fraud and money laundering. In exchange for a plea deal with the FBI, he spent 22 months of a four-year term. His financial heists cheated investors out of $200 million.
Jordan Belfort’s Current Net Worth Is Unknown.
Jordan Belfort’s net worth is estimated to be $100 million United States Dollars. Jordan Belfort is an entrepreneur, speaker, author, and former stockbroker from the United States.
Belfort was indicted in 1998 on charges of money laundering and fraud. He served nearly two years in prison after being convicted of securities fraud and money laundering. Additionally, he was ordered to repay $110 million of the $200 million he stole from over 1,500 people. He has repaid approximately $10 million of the $110 million to date.
Where Did Jordan Belfort Grow Up?
New York, Queens
Jordan Ross Belfort was born on July 9, 1962, in Queens, New York. He gained notoriety in the 1990s for his role in defrauding investors of millions of dollars through his investment firm, Stratton Oakmont. Belfort grew up in a modest Queens apartment as the son of an accountant.
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Residential Real Estate
Belfort’s Long Island, New York estate was seized by the federal government in 2001 and later auctioned to recoup some of Belfort’s fraud victims. The home has been sold multiple times since that period. It was listed for $3.4 million in 2017. The price was reduced to $2.89 million in August 2018.