Jordan Belfort, an author, former stockbroker, and motivational speaker, was born in Queens, New York, in 1962. In the 1990s, he made a name for himself and his investment firm, Stratton Oakmont, by defrauding investors of millions of dollars.
He’s also recognized for releasing “The Wolf of Wall Street,” a memoir that was adapted into a film starring Leonardo DiCaprio. He’s also known for the crimes he’s committed, such as fraud and other similar offenses.
They’re linked to stock-market manipulation, and he managed a boiler room as part of a penny-stock scheme. He was sentenced to 22 months in prison and fined more than a hundred million dollars for his actions, for which he pleaded guilty.
Early Life
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 buddy made $20,000 by selling Italian ice from coolers to tourists on the beach.
Belfort earned a biology degree from American University. He enrolled in the University of Maryland School of Dentistry. When a faculty member told him that being a dentist wasn’t a way to get rich, he departed after the first day of lectures.
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Jordan Belfort’s Net Worth
Jordan Belfort’s Net Worth: How Much Is He Worth? As of 2022, Jordan Belfort is predicted to have a net worth of $2 million dollars.
The former stockbroker and convicted felon make money from his books, seminars, and speeches. Belfort started making money when he was young, and his book claims that he was always a good salesman.
In the 1990s, Jordan Belfort became well-known in New York, among business people and socialites, for his Wall Street accomplishments. According to what we can tell, Belfort was acclaimed as a stock-broking genius for a time.
The federal government seized Belfort’s Long Island, New York estate in 2001, and it was later auctioned to reimburse some of Belfort’s fraud victims. Since then, the house has been sold numerous times. In 2017, it was on the market for $3.4 million. In August 2018, the price was lowered to $2.89 million.
The film ‘The Wolf of Wall Street,’ starring Leonardo DiCaprio, is based on the memoir of this famous motivational speaker. “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” two of Belfort’s memoirs, have been translated into eighteen languages and published in over 40 countries.
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Career
Jordan Belfort went door-to-door in Long Island, New York, selling meat and seafood. His meat-selling firm evolved from a one-man operation to a multi-person enterprise that sold 5,000 pounds of beef and fish every week.
He filed for bankruptcy at the age of 25 and found work as a stockbroker trainee at L.F. Rothschild. Masturbation, cocaine, and hookers, according to Belfort’s first boss. Following the 1987 Black Monday stock market meltdown, he was laid off from this company.
Despite this setback, Belfort remained enamored with the prospect of earning the kind of money that the more senior stockbrokers made.
Belfort worked for a number of financial firms in the late 1980s, soaking up as much knowledge as he could. He polished his sales spiel and decided to establish his own business in 1989.
In the early 1990s, Belfort founded Stratton Oakmont. In a boiler room setting, the company sells penny stocks. Belfort defrauded his investors using a pump-and-dump strategy.
Belfort had over 1,000 stockbrokers and over $1 billion under management at the height of Stratton Oakmont’s boom.
The National Association of Securities Dealers, on the other hand, was on to Belfort and Stratton Oakmont. The firm’s dealings were being scrutinized by the association.
The National Association of Securities Dealers then expelled Stratton Oakmont from its membership in December 1996, and the firm went out of business.
Belfort is said to have laundered his funds through Swiss banks. Both his mother-in-law and his wife’s aunt assisted in the smuggling of the funds into Switzerland. He reportedly threw parties with midget-throwing contests while running Stratton Oakmont.
Education
Jordan finished high school and went on to the University of Maryland to study dentistry.
He did, however, leave during orientation on the first day of class after the professor delivered a speech in which he stated that dentists will never be wealthy. He finally earned a biology degree from American University.
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Personal Life
Belfort enjoyed a lavish lifestyle at Stratton and held numerous parties. He also enjoyed using narcotics, particularly methaqualone, often known as quaaludes.
Belfort and his first wife, Denise Lombardo, divorced during his term as CEO of Stratton Oakmont. They were married between 1985 and 1991.
Tommy Chong, Belfort’s prison cellmate, was the one who persuaded him to write “The Wolf of Wall Street.”
He married Nadine Caridi, a British model, in 1991. They first met at a party. Chandler and Carter were their two children. They split up in 2005 after she accused him of domestic abuse, which she claimed was likely induced by narcotics.
Belfort purchased the luxury yacht Nadine Caridi, which was built in 1961 for Coco Chanel. To honor his second wife, he renamed the boat. The ship sank in June 1996 off the coast of Sardinia.
The Italian Navy’s Special Forces rescued everyone on the vessel. Belfort later claimed that despite the ship’s captain’s warnings, he insisted on sailing the boat in heavy winds.
In the year 1928, Belfort began dating Anne Koppe. They said, “I do,” in 2015. They’re still together in 2020 but haven’t married yet.
People have compared Belfort to the well-known Ponzi schemer Bernie Madoff.
Belfort makes a cameo appearance near the end of “The Wolf of Wall Street.”
Bo Dietl, his former head of security, revealed in an interview that he never saw Belfort sober while working for him. Belfort, he added, has intimate ties to the mob.
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