The Wolf of Wall Street is one of the best-known memoirs in the genre. American entrepreneur, motivational speaker, and ex-stockbroker Jordan Belfort have a fortune of less than $100 million. In 1999, he pled guilty to charges including stock market manipulation and penny stock fraud.
Jordan Belfort has lost a lot of money as a businessman. His finances are now in the red for a variety of reasons. Since when has his money disappeared, and how does he currently live? Let’s find out what’s going on.
What is Jordan Belfort’s Net Worth?
|Net Worth:||-$100 Million|
|Profession:||Stockbroker, Motivational Speaker|
|Age:||60 Years Old|
|Born:||July 9, 1962|
Childhood of Jordan Belfort:
Jordan Ross Belfort was born on July 9, 1962, in the Bronx, New York City. His parents were Jewish accountants Max and Leah Belfort. In Bayside, Queens, he grew up as a youngster for much of his formative years. After graduating from high school, Belfort and his best friend Elliot Loewenstern made $20,000 selling Italian ice from plastic coolers to tourists at a local beach throughout the summer.
Belfort completed his undergraduate studies at American University, where he majored in biology. After making money with Loewenstern, Belfort registered at the University of Maryland School of Dentistry, where he intends to pursue a career in dentistry. On the first day of class, he left when an instructor warned him that being a dentist was not a way to make money.
Career: Jordan Belfort
As a Salesman
As a Door-to-Door Salesman on Long Island, Jordan Belfort put his revenue-generating plan to the test. When Belfort was in charge of his firm, he worked with several subordinates who handled hundreds of pounds of merchandise for several years.
When Jordan Belfort began investing in the stock market in the 1980s, he was taking advantage of the rising trend and the looser regulations. At the age of 25, Belfort’s efforts failed, the funds froze, and he fell bankrupt. But he never lost up on his dream of becoming wealthy. In 1987, with the help of a family acquaintance, Belfort landed a position at L.F. Rothschild as a trainee stockbroker.
With his Series 7 license and qualifications, Belfort applied for a position at The Investors Center, a small investment business where he was treated like a shark in the water. L.F. Rothschild went bankrupt just a year after he started working there, and he was forced to leave during the financial crisis. As far as Belfort is concerned, his first day of work coincided with “Black Monday,” the 1987 stock market decline.
Inexpensive Stock Swindle
A 50 percent charge on equities known as Penny Stocks, Belfort understood, was the most excellent method to make the most money when presenting promising firms to current and new investors.
However, Jordan Belfort was not a financial advisor. He was a salesman for a company. When it came to his new investment company’s clients, his focus was more on himself than on providing them with value. Belfort sincerely wanted to be wealthy and did not dissuade him from engaging in penny stock deceit. During these two years, Belfort honed his persuading talents and sales methods, notably the “straight line” strategy that he later claimed about in his novel Way of the Wolf. The Investor Center’s top salesperson
In 1989, after spending years honing his pitch, Jordan Belfort went out on his own and built a successful firm. He and Danny Porsche launched the Stratton Oakmont company in New York City.
Stratton Oakmont employed one thousand stockbrokers and financial experts for a “boiler room” in the next seven years. When salespeople conduct cold calls to potential customers to persuade them to invest in hazardous financial products, they operate a boiler room. “Boiler room” refers to these transactions occurring in most buildings’ basements or boiler rooms. Belfort employed a pump-and-dump strategy to defraud his investors.
More than 30 companies have gone public through initial public offerings (IPOs) after the firm reportedly managed assets worth $1 billion to $1.3 billion (IPOs). Federal officials were aware of both the investment firm and Jordan Belfort’s lavish behavior throughout the company’s brief existence.
The National Association of Securities Dealers, on the other hand, was pursuing Belfort and Stratton Oakmont. Extensive scrutiny of the company’s commercial operations was taking place. It was then expelled from the National Association of Securities Dealers in December 1996, and Stratton Oakmont shuttered its operations.
Belfort is accused of laundering money through Swiss banks. Money laundering was made more accessible by the involvement of both his wife’s mother-in-law and his wife’s aunt. During his time at Stratton Oakmont, he has hosted parties featuring midget-tossing competitions.
Securities fraud and money laundering were among the charges leveled against Belfort in 1999. He served 22 months of a four-year sentence in exchange for a plea deal with the FBI. Investors were duped out of $200 million by his financial deceptions.
Belfort was arrested and accused of money laundering and fraud in 1998. After being convicted of securities fraud and money laundering, he was sentenced to two years in jail. In addition, he was ordered to pay back $110 million of the $200 million in stolen funds from over 1,500 victims. There has only been repayment of roughly $10 million out of the $110 million.
Career as a Writer
As a writer, Belfort decided to write a detailed history of his life so that he could profit from his fame and share his story with others. The Wolf of Wall Street was the name of Belfort’s best-selling book.
‘The Wolf of Wall Street’ was praised for its ability to deliver compelling stories and its visual style. Throughout the novel’s challenging journey, we get a real sense of Jordan Belfort. They reveal Belfort’s expensive purchases, insane members of his staff, drug and sex-fueled experiences, and his legal actions.
Martin Scorsese’s film adaption of “The Wolf of Wall Street” starred Leonardo DiCaprio. He wrote Catching the Wolf of Wall Street to capitalize on Jordan Belfort’s burgeoning reputation. As a result of Catching the Wolf of Wall Street, Jordan Belfort’s celebrity grew, as did his understanding of the film. As many as 40 nations have gotten a copy of the book, translated into 18 languages.
When Catching The Wolf became a bestseller, Belfort launched his third best-selling novel, The Way of the Wolf: Master Straight Line Selling. Belfort markets way of the Wolf as a “self-help” book in conformity with his reputation as a motivational speaker. In The Way of the Wolf, Belfort demonstrates how to trade using the “straight-line approach.”
Oscars for Best Actor in a Leading Role for Leonardo DiCaprio, Golden Globes for Best Motion Picture, BAFTA Awards for Best Leading Actor, and MTV Movie and Tv Awards for Best Movie of the Year were given to DiCaprio’s movie in the 2014 adaptation of his best-selling novel.
Making a Living Speaking About Self-Help
After his release from prison and published biography, Belfort has relaunched himself as a motivational speaker in various jobs and has become well-known for his sales skills. He started a business called Global Motivation, Inc. Three weeks out of every month, he went to give presentations on the need for business ethics and how to learn from mistakes.
If you’d like to join one of Jordan Belfort’s training programs, view his video workshops, or even hire him for an in-person motivational speaking event, you may do so at JordanBelfort.com, his official website. In addition to Grant Cardone and Tai Lopez, Jordan Belfort is a notable YouTube and podcast host.
People have criticized his lectures for their comments on his claims of rejecting financial reforms, as he did in the 1990s. Like when he thought it was okay in the 1990s to break banking authorities’ regulations since so many others had done it—Belfort charges between $30,000 and $75,000 for a speaking engagement. A sales seminar with him may cost as much as $80,000 to organize.
- Despite making his first million at the age of 26, Jordan Ross Belfort ended up in prison for 10tenears for securities fraud and money laundering.
- White Ferrari purchased with Belfort’s Wall Street bonus.
- A 167-foot yacht went down in the Mediterranean Sea during a storm.
- After spending $700,000 on hotel rooms and 3 million dollars on a currency bed for sex with his wife,
- His financial deceptions cost investors $200 million, according to prosecutors.
- As a result, he had to pay back $110 million.
- He made more than $50 million in a single year.
- He was able to pay back $10 million in damages.
- For a single lecture, he costs between $30,000 and $70,000.
- There were strong ties between Belfort and the Mafia.
- For the film adaption of “The Wolf of Wall Street,” Leonardo DiCaprio was cast as Belfort by Martin Scorsese.