Jordan Ross Belfort (born July 9, 1962) is an American former stockbroker, financial criminal, and businessman. In 1999, he pleaded guilty to fraud and stock-market manipulation, running a boiler room in a penny-stock scam. As part of a deal, he became an FBI informant, wearing a wire and testifying against his partners, serving 22 months in prison.
He wrote the memoir The Wolf of Wall Street in 2007, which was adapted into a 2013 film directed by Martin Scorsese, starring Leonardo DiCaprio.
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Jordan Belfort Net Worth
Jordan Belfort has a net worth of negative $100 million. Initially required to pay 50% of his income to 1,513 victims, he paid $700,000 between 2007-2009 and $0 in 2010. In 2011, he sold film rights for $1.045 million, paying just $21,000 instead of $500,000.
In 2012, the U.S. government ensured $125,000 was paid directly, totaling $158,000. In 2013, his restitution was reduced to $10,000 monthly for life. To date, he has repaid $13-14 million, mostly from seized property, still owing $100 million.
Early life
Jordan Belfort was born in 1962 in the Bronx, New York City, to Jewish parents, Maxwell “Max” Belfort and Leah (née Markowitz), both accountants. Raised in Bayside, Queens, he and childhood friend Elliot Loewenstern earned $20,000 selling Italian ice at Jones Beach.
Belfort graduated from American University with a biology degree and enrolled at the University of Maryland School of Dentistry. However, after hearing the dean’s speech stating dentistry’s “golden age” was over, he decided not to pursue the graduate program.
Career
Jordan Belfort founded Stratton Oakmont, initially a Stratton Securities franchise, later buying out the original founder. The firm operated as a boiler room, using pump-and-dump schemes to defraud investors. Belfort lived lavishly, abusing Quaaludes and hosting extravagant parties.
Stratton Oakmont employed over 1,000 brokers, handling over $1 billion in stock issues, including Steve Madden’s IPO. Shut down by the NASD in 1996, Belfort was indicted in 1999 and later served 22 months in prison. Encouraged by Tommy Chong, he became a writer and motivational speaker.
Personal Life
Belfort married Denise Lombardo in 1985. While running Stratton Oakmont, they divorced. He later married Nadine Caridi, a British-born, Brooklyn-raised model, with whom he had two children. They divorced in 2005 after her claims of domestic violence, fueled by his drug addiction and infidelity.
An avid tennis player, Belfort owned the luxury yacht Nadine, originally built for Coco Chanel. In 1996, he ignored his captain’s advice, leading to the yacht sinking near Sardinia. In 2021, a hacker stole $300,000 in cryptocurrency from his wallet.
How much of Wolf of Wall Street is real?
The true story behind The Wolf of Wall Street closely aligns with Jordan Belfort’s memoir. According to his recollection, most events in the film—including heavy drug use, numerous sex workers, and widespread criminal activity—are accurately portrayed.
Conclusion
In conclusion, Jordan Belfort’s net worth reflects the consequences of his actions during his infamous days as a stockbroker. His story serves as a cautionary tale in the world of finance and ethics.
FAQs about Jordan Belfort
- What is Jordan Belfort’s net worth?
- Jordan Belfort’s net worth is currently estimated at negative $100 million due to legal obligations.
- What led to Jordan Belfort’s notoriety as the “Wolf of Wall Street”?
- Belfort’s fraudulent activities and extravagant lifestyle during his time at Stratton Oakmont, a stock brokerage firm, were the basis for his infamous nickname.
- How did Jordan Belfort transition into a motivational speaking career?
- After serving time in prison, Belfort embarked on a career as a motivational speaker, emphasizing business ethics and the lessons learned from his past.
- Has Jordan Belfort made any progress in repaying his victims?
- Belfort was ordered to repay $110 million in restitution, but as of now, he has only managed to pay back around $10 million.
- What impact did Jordan Belfort’s life story have on Hollywood?
- Belfort’s memoir, “The Wolf of Wall Street,” was adapted into a blockbuster movie starring Leonardo DiCaprio, Jonah Hill, and Margot Robbie, directed by Martin Scorsese.
