Jordan Belfort net worth
Split: 21
What is Jordan Belfort’s net worth
Jordan Belfort was convicted of a felony, a former stockbroker, writer and motivational speaker. At the time of writing, Jordan Belfort’s net worth is-100 million U.S. dollars. From 1989 to 1996, he ran the financial company Stratton Oakment, which orchestrated a skyrocketing plan to defraud hundreds of millions of dollars from innocent victims. In 1999, the company’s co-founders Belfort and Danny Porush were indicted for securities fraud and money laundering. They all pleaded guilty. They were commuted for cooperating with the prosecutor.
In 2007, he published his memoir “The Wolf of Wall Street”, which was adapted into a movie of the same name starring Leonardo DiCaprio in 2007. The film was released in 2013. The 2000 film “Boiler House” was loosely based on Belfort and his former financial company Stratton Oakmont.
Unfortunately, for fans of this movie, Jordan Belfort was never really called the “Wolf of Wall Street” during his financial planning period. Jordan gave himself this nickname when he wrote his prison memoirs. The film claimed that Jordan’s name was a writer from Forbes in 1991. In fact, the title of the Forbes article is “Steak, Stocks-What’s the difference?”-It mentioned that before becoming a stockbroker, Belfort sold steak and seafood door-to-door on Long Island. Later this article described Jordan as “a twisted Robin Hood who took himself and his happy agent from the rich.” The article also described his business model as “selling adventures to vulnerable investors.” stock”. Many of his victims are not rich. They are humble people and cannot afford to lose money.
early life
Jordan Ross Belfort was born on July 9, 1962 in the Bronx, New York. He grew up in a Jewish family in Bayside, Queens. Belfort and a close friend sold Italian ice cubes from coolers to people on the beach in the summer between high school and college, earning $20,000. Belfort graduated from American University with a degree in biology. He attended the Dental School of the University of Maryland School. After the first day of class, when a teacher said that being a dentist is not the way to get rich, he left.
Profession
Belfort sells meat and seafood door-to-door on Long Island, New York. His meat sales business has grown from a one-man operation to a company that employs several people and sells 5,000 pounds of beef and fish a week. At the age of 25, he filed for bankruptcy and got a job as a stockbroker intern at LF Rothschild. Allegedly, Belfort’s first boss told him that the keys to success were masturbation, cocaine and prostitutes. After the stock market crash on Black Monday in 1987, he was fired by this company. Despite this setback, Belfort was fascinated by the idea of money made by more senior stockbrokers. In the late 1980s, Belfort worked in a number of financial companies and absorbed all the knowledge he could absorb. He perfected his sales promotion and decided to start his own company in 1989.
Belfort established Stratton Oakmont in the early 1990s. The company sells low-priced stocks in a boiler room environment. Belfort used the skyrocketing plan to deceive his investors. In the heyday of Stratton Oakmont, Belfort employed more than 1,000 stockbrokers and managed more than $1 billion in assets. However, the National Association of Securities Dealers questioned Belfort and Stratton Oakmont. The association is closely monitoring the company’s transactions. Then, in December 1996, the National Association of Securities Dealers kicked Stratton Oakmont out of membership and the company went bankrupt.
According to reports, Belfort laundered his money to a Swiss bank. Both his mother-in-law and his wife’s aunt helped smuggle the money into Switzerland. According to reports, while operating Stratton Oakmont, he held parties including dwarf throwing competitions.
Michael Lodgesano/Getty Images
Legal Issues
Belfort was sued in 1999 for securities fraud and money laundering. He served 22 months in prison for four years in exchange for a plea agreement with the FBI. His financial fraud cost his investors US$200 million.
return
Belfort was indicted in 1998 for money laundering and fraud. He was sentenced to nearly two years in prison for securities fraud and money laundering. He must also repay $110 million of the $200 million stolen from more than 1,500 customers. So far, he has only repaid about 10 million U.S. dollars out of 110 million U.S. dollars.
(VAN LONKHUIJSEN/AFP via Getty Images)
Inspirational speech career
Since being released from prison, Belfort has reshaped himself as an inspirational speaker. He founded a company called Global Motivation, Inc. He spends about three weeks a month on the road giving lectures on the importance of ethics in business and learning from mistakes. For example, in the 1990s, he thought it was reasonable for him to violate the rules set by financial regulators because many others did. Scheduling a lecture with Belfort will cost you between US$30,000 and US$75,000. Booking a sales seminar with him will cost more than $80,000. His speech did not receive the best reviews, and critics reacted negatively to his story of contempt of financial regulation, just as he did in the 1990s.
Writing career
Belfort has written two memoirs, “The Wolf of Wall Street” and “Capturing the Wolf of Wall Street”, which have been published in about 40 countries and have been translated into 18 languages. “The Wolf of Wall Street” was adapted into a movie starring Leonardo DiCaprio, Jonah Hill and Margot Robbie. Martin Scorsese directed the film. He also wrote “The Way of the Wolf: Becoming a Direct Selling Master”, which was released in 2017.
personal life
While in Stratton, Belfort lived a luxurious lifestyle and often hosted parties. He also uses recreational drugs, especially methaqualone or quaaludes.
Belfort and his first wife Dennis Lombardo divorced while he ran Stratton Oakmont. They were married from 1985 to 1991.
Tommy Chong is his cellmate in prison and the one who encouraged Belfort to write “The Wolf of Wall Street”.
He married Nadine Caridi, a British-born model, in 1991. They met at a party. They have two children-Chandler and Carter. After she accused him of domestic violence (possibly drug use), they separated and divorced in 2005.
Belfort purchased the luxury yacht Nadine, which was built in 1961 for the famous designer Coco Chanel. He renamed the yacht after his second wife. The ship sank off the coast of Sardinia in June 1996. All the people on the yacht were rescued by the special forces of the Italian Navy. Later, Belfort admitted that he ignored the captain’s advice and insisted on sailing in high winds.
In 2008, Belfort began dating Anne Cope. They were engaged in 2015, and by 2020, they are still together but unmarried.
Belfort has been compared to Bernie Madoff, the perpetrator of the notorious Ponzi scheme.
Belfort has a cameo at the end of “The Wolf of Wall Street.”
In an interview, Bodietel, his former security chief, said that he had never seen Belfort sober while working for Belfort and revealed that Belfort had close ties with the gang.
real estate
In 2001, the federal government confiscated Belfort’s mansion on Long Island, New York, and then sold it to repay some of Belfort’s fraud victims. Since then, the house has been sold several times. It went public in 2017 at a price of 3.4 million U.S. dollars. In August 2018, the price was significantly reduced to 2.89 million US dollars.
