• Thu. May 26th, 2022

Jordan Belfort Net Worth 2022 | Salary | Biography

Byadmin

May 10, 2022

-$100,000,000
Jordan Belfort’s net worth is unknown.
Jordan Belfort is a former stockbroker, convicted felon, and author. Jordan Belfort’s net worth is currently negative $100 million.

Jordan was the CEO of Stratton Oakment, a financial firm that orchestrated pump-and-dump schemes that defrauded hundreds of millions of dollars from unsuspecting victims between 1989 and 1996. Belfort and Danny Porush, the firm’s co-founders, were charged with securities fraud and money laundering in 1999. They both entered guilty pleas. In exchange for cooperating with prosecutors, their sentences were reduced.

 

Jordan’s memoir, “The Wolf of Wall Street.” was published in 2007. It was adapted into a film starring Leonardo DiCaprio and directed by Martin Scorsese with the same name. In 2013, the film was released. Belfort and his former financial firm Stratton Oakmont were loosely based on the 2000 film “Boiler Room”

 

Unfortunately for movie fans, Jordan Belfort was never referred to as “the Wolf of Wall Street” during his time of financial deception. Jordan gave himself that moniker while in prison writing his memoir. Jordan was allegedly given that name by a Forbes writer in 1991, according to the film. That is incorrect. The Forbes article was actually titled “Steaks, Stocks – What’s the Difference?” – a reference to the fact that Belfort used to sell steaks and seafood door-to-door on Long Island before becoming a stock broker. Jordan was later described as a “twisted Robin Hood” who “takes from the rich and gives to himself and his merry band of brokers,” according to the article. His business model was also described in the article as “pushing dicey stocks on gullible investors.”

 

The fact that many of Jordan’s victims were not wealthy was not well depicted in the film. They were low-income individuals who couldn’t afford to lose the money they had.

 

Jordan stole around $200 million from his victims during his deceptive reign of terror. He was ordered to pay restitution of $110 million. He has only repaid $10 million as of this writing. As a result, his net worth is negative $100 million.

 

IMPORTANT FACTS

With my first Wall Street bonus, I purchased a white Ferrari.

In a Mediterranean storm, a 167-foot yacht sank.

Once racked up a hotel bill of $700,000

He once made love to his wife on a $3 million cash bed.

At his peak, he made $50 million in a single year.

Later, prosecutors claimed that his financial schemes cost investors $200 million.

Restitution of $110 million was ordered.

Has made a $10 million restitution payment.

A single speaking engagement costs between $30,000 and $70,000.

Early Years

Jordan Ross Belfort was born on July 9, 1962, in The Bronx, New York. He was raised 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. Belfort earned a bachelor’s degree in biology from American University. He enrolled in the University of Maryland School of Dentistry. After a faculty member told him that being a dentist wasn’t a way to get rich, he left after the first day of classes.

 

Career

On Long Island, New York, Belfort sold meat and seafood door to door. His meat-selling business grew from a one-man operation to a company with several employees and weekly sales of 5,000 pounds of beef and fish. He filed for bankruptcy when he was 25 and got a job as a stockbroker trainee at L.F. Rothschild. Belfort’s first boss allegedly told him that masturbation, cocaine, and hookers were the keys to success. After the 1987 Black Monday stock market crash, he was laid off from this company. Despite this setback, Belfort was enthralled by the prospect of earning the kind of money that the more senior stockbrokers did. Belfort worked for a number of financial firms in the late 1980s, soaking up as much information as he could. He perfected his sales pitch and decided to start his own company in 1989.

 

Stratton Oakmont was founded by Belfort in the early 1990s. In a boiler room setting, the firm sells penny stocks. Belfort defrauded his investors with a pump-and-dump scheme. Belfort had over 1,000 stockbrokers and over $1 billion under management at the height of Stratton Oakmont’s success. The National Association of Securities Dealers, on the other hand, was after Belfort and Stratton Oakmont. The firm’s transactions were being closely scrutinised by the association. The National Association of Securities Dealers then kicked Stratton Oakmont out of its membership in December 1996, and the firm went out of business.

 

Belfort is said to have laundered his money through Swiss banks. His mother-in-law and his wife’s aunt both assisted in the money laundering. He reportedly threw parties with midget-throwing contests while running Stratton Oakmont.

 

Belfort, Jordan

 

Getty Images/Michael Loccisano

Legal Concerns

In 1999, Belfort was charged with securities fraud and money laundering. In exchange for a plea deal with the FBI, he served 22 months of a four-year sentence. Investors lost $200 million as a result of his financial schemes.

 

Restitution

In 1998, Belfort was charged with money laundering and fraud. He served almost two years in prison after being convicted of securities fraud and money laundering. He was also ordered to repay $110 million of the $200 million he stole from over 1,500 customers. He has only repaid about $10 million of the $110 million so far.

 

Career in Motivational Speaking

Belfort has reinvented himself as a motivational speaker since his release from prison. He founded the company Global Motivation, Inc. He travelled about three weeks a month, giving speeches about the importance of business ethics and learning from mistakes. In the 1990s, for example, he believed he was justified in breaking financial regulators’ rules because so many others had done so. It will cost you between $30,000 and $75,000 to book a speaking engagement with Belfort. A sales seminar with him can cost up to $80,000. His speeches haven’t gotten the best reviews, with critics reacting negatively to his stories about breaking financial regulations in the 1990s.

 

Career in Writing

Belfort’s memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street” have been translated into 18 languages and have been published in over 40 countries. The film adaptation of “The Wolf of Wall Street” starred Leonardo DiCaprio, Jonah Hill, and Margot Robbie. The film was directed by Martin Scorsese. In 2017, he also published “Way of the Wolf: Become a Master Closer with Straight Line Selling,”

 

Private Life

Belfort lived a lavish lifestyle and threw frequent parties during his time at Stratton. He was also a recreational drug user, particularly of methaqualone, or quaaludes.

 

During his time at Stratton Oakmont, Belfort and his first wife, Denise Lombardo, divorced. From 1985 to 1991, they were married.

 

Tommy Chong, Belfort’s prison cellmate, was the one who encouraged him to write “The Wolf of Wall Street.”

 

In 1991, he married British 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 (likely drug-related).

 

Belfort purchased the luxury yacht Nadine, which was built for Coco Chanel in 1961. The yacht was renamed after his second wife. In June 1996, the ship sank off the coast of Sardinia. The Italian Navy’s Special Forces rescued everyone on board the yacht. Belfort later admitted that despite the captain’s advice, he insisted on sailing the yacht in high winds.

 

Belfort began dating Anne Koppe in 1928. In 2015, they got engaged. They are still together but not married as of 2020.

 

Belfort has been compared to Bernie Madoff, the infamous Ponzi scheme perpetrator.

 

Near the end of “The Wolf of Wall Street.” Belfort makes an appearance.

 

Bo Dietl, his former head of security, said in an interview that he never saw Belfort sober while working for him and that Belfort had deep ties to the mob.

 

Real Estate

Belfort’s Long Island, New York mansion was seized by the federal government in 2001 and later sold to repay some of Belfort’s fraud victims. The house has been sold several times since then. It was listed for $3.4 million in 2017. In August 2018, the price was slashed to $2.89 million.

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