Jordan Belfort is an American businessman, speaker, and author who used to work as a stockbroker. In 2007, Jordan Belfort wrote a book called The Wolf of Wall Street, which was made into a movie with the same name in 2013. Jordon Belfort was born in 1962 to Jewish parents in the Bronx borough of New York City. At his highest point, Jordon Belfort had more than $2 billion net worth. Jordan Belfort’s worth has grown by 40% per year in the last two years.
Jordan Belfort Net Worth: How Much Money Does He Have?
Jordan Belfort is a former stockbroker and author who has been convicted of a felony. When this was written, Jordan Belfort had a negative net worth of $100 million.
Between 1989 and 1996, Jordan was in charge of the financial company Stratton Oakmont, which ran “pump-and-dump” schemes that scammed innocent people out of hundreds of millions of dollars. In 1999, Belfort and Danny Porush, who helped start the company, were charged with fraud and laundering money. Both of them admitted guilt. In exchange for helping the government, their sentences were cut.
In 2007, Jordan’s autobiography, “The Wolf of Wall Street,” came out. It was made into a movie of the same name, with Leonardo DiCaprio and Martin Scorsese in the lead roles. In 2013, the movie came out. The film “Boiler Room,” which came out in 2000, was loosely based on Belfort and his old business, Stratton Oakmont.
Fans of the movie will be disappointed to learn that Jordan Belfort was never called “the Wolf of Wall Street” when he was making money schemes. Jordan gave himself this name while he was in jail and writing his autobiography. The movie says that a writer for Forbes in 1991 gave Jordan that name. That is not true. The real title of the Forbes article was “What’s the Difference Between Steaks and Stocks?” Before becoming a stock broker, Belfort used to sell steaks and seafood door-to-door on Long Island. Later, the article called Jordan a “twisted Robin Hood who steals from the rich and gives to himself and his merry band of brokers.” The report also said that his business model was to “push risky stocks on investors who were too trusting.”
The fact that many of Jordan’s victims were not wealthy was not shown very well in the movie. They didn’t have much money and couldn’t afford to lose what they did.
Jordan stole about $200 million from his victims during his fake reign of terror. As a form of restitution, he was told to pay back $110 million. As of this writing, only $10 million has been paid back. So, his net worth is less than $100 million.
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Jordan Belfort’s Early Years
Jordan Ross Belfort was born on July 9, 1962, in The Bronx, New York. He grew up in a Jewish family in Bayside, Queens. During the summer between high school and college, Belfort and a close friend made $20,000 selling Italian ice from coolers to people on the beach. Biology was his major at American University, where he got his degree. He went to the University of Maryland School to become a dentist. After the first day, he stopped going to school when a teacher told him that being a dentist wasn’t a good way to get rich.
Jordan Belfort’s Career
On Long Island, New York, Belfort sold meat and seafood door-to-door. His business selling meat grew from a one-person job to a company with several employees selling 5,000 pounds of beef and fish weekly. At age 25, he filed for bankruptcy and got a job as a stockbroker trainee at L.F. Rothschild. Belfort’s first boss is said to have told him that masturbation, cocaine, and hookers were the keys to success. After the Black Monday stock market crash in 1987, this company fired him. Even after this setback, Belfort was determined to make as much money as the more experienced stockbrokers. Belfort worked for a number of financial firms in the late 1980s, learning as much as he could. He got good at selling, and in 1989 he decided to start his own company.
In the early 1990s, Belfort set up Stratton Oakmont. In a boiler room, the company sells penny stocks. Belfort cheated his investors by using a scheme called “pump and dump.” At the peak of Stratton Oakmont‘s success, Belfort had more than 1,000 stockbrokers working for him and more than $1 billion in assets under his control. But Belfort and Stratton Oakmont were on the radar of the National Association of Securities Dealers. The association closely watched the business transactions of the company. Then, in December 1996, Stratton Oakmont was kicked out of the National Association of Securities Dealers, and the company went out of business.
Belfort may have used Swiss banks to clean his money. The money was brought into Switzerland with the help of both his mother-in-law and his wife’s aunt. People say that when he ran Stratton Oakmont, he had parties with midget-throwing contests.
Jordan Belfort’s Legal Issues
In 1999, Belfort was charged with fraud in the stock market and laundering money. In exchange for a deal with the FBI, he served 22 months of a four-year sentence. Investors lost $200 million because of the scams he pulled.
Jordan Belfort’s Restitution
In 1998, Belfort was charged with money laundering and fraud. He was found guilty of securities fraud and laundering money and went to prison for almost two years. He also had to pay back $110 million of the $200 million he stole from over 1,500 clients. Only about $10 million of the $110 million have been paid back.
Jordan Belfort’s Career As Motivational Speaker
Since escaping jail, Belfort has changed his life by becoming a motivational speaker. He started a company called Global Motivation, Inc. About three weeks a month, he was on the road giving speeches about how important ethics are in business and how important it is to learn from mistakes. In the 1990s, he thought breaking the rules set by financial regulators was okay because many other people did the same thing. It will cost you between $30,000 and $75,000 to book Belfort as a speaker. Booking him for a sales seminar costs $80,000 and up. People had said bad things about his speeches, mainly when he discussed how he broke financial rules in the 1990s.
Jordan Belfort’s Career As Writer
Belfort’s two autobiographies, “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” have been published in about 40 countries and translated into 18 languages. The movie “The Wolf of Wall Street” stars Leonardo DiCaprio, Jonah Hill, and Margot Robbie. Martin Scorsese directed the film. Way of the Wolf: Become a Master Closer with Straight Line Selling, which came out in 2017, was another book he wrote.
Jordan Belfort’s Personal Life
During his time at Stratton, Belfort lived a luxurious life and hosted many parties. He also used drugs for fun, especially methaqualone, also called quaaludes.
When Belfort ran Stratton Oakmont, he and his first wife, Denise Lombardo, split up. From 1985 to 1991, they were married.
Tommy Chong was his cellmate in prison, and he was the one who told Belfort to write “The Wolf of Wall Street.”
In 1991, he married Nadine Caridi, a model who was born in Britain. At a party, they met. Together, they had two kids, Chandler and Carter. They broke up in 2005 after she accused him of domestic violence that was probably caused by drugs.
Belfort bought the luxury yacht Nadine, built for Coco Chanel in 1961. He changed the name of the boat to honor his second wife. In June 1996, the ship sank off the coast of Sardinia. All of the people on the yacht were saved by the Special Forces of the Italian Navy. Later, Belfort said that, even though the ship’s captain told him not to, he insisted on sailing the yacht when there were strong winds.
In 2oo8, Belfort started dating Anne Koppe. In 2015, they said, “I do.” In 2020, they are still together but haven’t gotten married yet.
People have said that Belfort is like the famous Ponzi schemer Bernie Madoff.
Near the end of “The Wolf of Wall Street,” Belfort makes a brief appearance.
In an interview, his former head of security, Bo Dietl, said he never saw Belfort sober while working for him. He also noted that Belfort had close ties to the Mob.
Jordan Belfort’s Actual Property
In 2001, the federal government took Belfort’s mansion on Long Island, New York, and sold it so that some of Belfort’s fraud victims could get their money back. Since then, the house has changed hands a few times. In 2017, it went on sale for $3.4 million. The price was cut to $2.89 million in August 2018.
Jordan Belfort, also known as “The Wolf of Wall Street,” made much money through his investment firm, Stratton Oakmont. He had considerable trouble with the law, followed by four years in prison and a fine of $110 million. Stay tuned for more updates on NogMagazin.come
Jessa Martin is the author of Nogmagazine, A professional in writing by day, and novelist by night, she received her bachelor of arts in film from Howard University and her master of arts in media studies from the New School. A Brooklyn native, she is a lover of naps, cookie dough, and beaches, currently residing in the borough she loves, most likely multitasking.