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Jordan Belfort Net Worth

What is Jordan Belfort’s Net Worth In 2024?

Jordan Belfort is an American author and convicted felon with a net worth of zero. Jordan oversaw the financial company Stratton Oakmont from 1989 to 1996, during which time it engineered pump-and-dump scams that tricked hundreds of millions of dollars out of unsuspecting investors. Co-founders of the company. They both entered guilty pleas. As compensation for their cooperation with the prosecution, their sentences were lowered.

If nothing else, the filmmakers’ depiction of Jordan’s deceitful acts’ devastating effects on the victims of his scam was inaccurate. His victims were mostly low-income individuals who could not afford to lose the money they had lost. And if all of this wasn’t terrible enough, Belfort was allowed a cameo towards the film’s conclusion for some unknown reason, which increased his notoriety and helped him launch a successful career as a motivational speaker.

Restitution Of Jordan Belfort

Jordan Belfort defrauded 1,513 victims out of about $200 million during his financial terror reign. He was sentenced to pay back $110 million in restitution during his 2003 sentencing. In addition, he was given a four-year prison sentence, which was shortened after he testified against other former partners and acquaintances while working as an FBI informant and wearing a wire. He was freed in April 2008 after serving 22 months.

He was first required to reimburse his 1,513 victims for 50% of his gross income under the terms of his restitution. He contributed $700,000 for his restitution between 2007 and 2009. In 2010, he made no payment.

Jordan Belfort received $1.045 million in 2011 when he sold Red Granite Pictures the film rights to his two memoirs. In 2012, he would make $250,000 after receiving $940,500 upfront. He was likely required to pay his victims around $500,000 in 2011 as part of his reparation requirements. In actuality, he only spent $21,000 in that year. The US government persuaded Red Granite to give it $125,000 directly 2012—half of his $250k payoff. In total, he received $158,000 in 2012.

The United States government consented to modify his lifelong minimum monthly restitution plan in 2013, moving it from 50% of all gross earnings.

Only about $13–14 million of Jordan’s restitution has been returned; the lion’s share of this amount, $11 million, came from the sale of property given up during sentencing. He still owes his victims almost $100 million as a result.

Prosecutors brought Jordan back to court in 2018 because of the approximately $9 million in speaking fees he received between 2013 and 2015. It is said that he did not use any of this cash for reparations.

Invented “Wolf of Wall Street” Nickname

Many of you are probably familiar with Jordan Belfort from the 2013 film “The Wolf of Wall Street.” The 2007 autobiography of Jordan, commonly known as “The Wolf of Wall Street,” served as a loose basis for the movie. You could believe that Jordan was known as “the wolf of Wall Street” during his financial career based on the movie and book, as well as the fact that that moniker frequently refers to him in interviews and articles. It is untrue. In reality, Jordan Belfort was never referred to as “the Wolf of Wall Street” throughout his days of financial manipulation.

What is the origin of this nickname? When Jordan was writing his prison memoir, he gave himself that nickname.

The nickname’s origin is depicted in the Martin Scorsese film. It is partially made with funds stolen from the Malaysian government, as though a Forbes reporter gave it for a 1991 magazine cover story. That is untrue. Under the title “Steaks, Stocks – What’s the Difference?” was the original Forbes article. – a reference to Belfort’s previous career as a door-to-door Long Island seafood and steak salesman before he became a stock broker. 

Click here to read about The Rock’s Net Worth.

Early Life Of Jordan Belfort

On July 9, 1962, Jordan Ross Belfort was born 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 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 mentioned that being a dentist wasn’t a means to get rich, he departed after the first day of lectures.

Life Of Jordan Belfort

Career Of Jordan Belfort

On Long Island, New York, Jordan Belfort went door-to-door selling meat and seafood. From being a one-person operation at first, his meat-selling firm expanded to employ several individuals and sell 5,000 pounds of beef and fish every week. At 25, he declared bankruptcy and secured employment as a trainee stockbroker at L.F. Rothschild. Belfort’s first supervisor allegedly advised him that hookers, cocaine, and masturbation were the keys to success. This company let him go following the Black Monday stock market crash 1987.

Jordan Belfort was captivated by the prospect of earning the money that more experienced stockbrokers made, even after this setback.

Jordan Belfort established Stratton Oakmont in the early 1990s. The company uses a boiler room to sell penny stocks. Belfort conned his investors with a pump-and-dump scam. At the pinnacle of Stratton Oakmont’s prosperity, Belfort managed over $1 billion and employed over 1,000 stockbrokers. Nonetheless, Belfort and Stratton Oakmont were under investigation by the National Association of Securities Dealers. The group was thoroughly examining the business dealings of the firm. According to reports, Belfort hid his wealth in Swiss banks. The money was smuggled into Switzerland with assistance from his wife’s aunt and mother-in-law. Parties he allegedly hosted at Stratton Oakmont included midget-tossing competitions.

Motivational Speaking Career Of Jordan Belfort

It remade himself as a motivational speaker after being released from prison. He established Global Motivation, Inc. as his company. He travelled for around three weeks every month to give speeches on the value of business ethics and how to learn from mistakes. For example, he believed in the 1990s that he was justified in defying banking regulators’ laws because many others had done the same. If you book Belfort to talk, it will run you between $30,000 and $75,000. Booking him for a sales seminar costs at least $80,000.

Writing Career Of Jordan Belfort

Jordan Belfort’s autobiographies, “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” have been published in nearly forty countries and translated into eighteen languages. Starring in a film adaptation of “The Wolf of Wall Street” were Margot Robbie, Jonah Hill, and Leonardo DiCaprio. Martin Scorsese directed the film. “Way of the Wolf: Become a Master Closer with Straight Line Selling,” another book he wrote, was published in 2017.

Personal Life Of Jordan Belfort

Belfort hosted a lot of parties and lived a luxury lifestyle while he was employed at Stratton. He also took drugs recreationally, mostly quaaludes or methaqualone. In an interview, his former head of security, Bo Dietl, disclosed that Belfort had close contacts with the Mafia and claimed that he had never seen Belfort sober while he employed him.

While Belfort operated Stratton Oakmont, he divorced Denise Lombardo, his first wife. Their marriage lasted from 1985 to 1991. In 1991, he wed model Nadine Caridi, a British native. It was at a gathering that they first met. Together, they had two children, Chandler and Carter. She filed for divorce in 2005 after accusing him of domestic abuse, which she believed to have been caused by drugs. Belfort wed Anne Koppe in 2008. 2020 saw their divorce. Jordan began dating Cristina Invernizzi in 2021.

His jail cellmate Tommy Chong was the one who inspired Belfort to pen “The Wolf of Wall Street.”

The opulent boat Nadine was constructed in 1961 for renowned designer Coco Chanel, and Belfort purchased it. The yacht was renamed in honour of his second wife. The Special Forces of the Italian Navy saved everyone on the yacht. Subsequently, Belfort acknowledged that he disregarded the ship’s captain’s advice and insisted on sailing the yacht in strong gusts.

Real Estate Of Jordan Belfort

Belfort’s Long Island, New York estate was seized by the federal authorities in 2001, and it was later auctioned to recoup a portion of the victims of his deception. The house has been sold multiple times since then at $3.4 million.

Conclusion

In conclusion, Jordan Belfort’s net worth is not merely a sum of financial figures but a reflection of a tumultuous journey. From the heights of success to the depths of scandal, his story is one of resilience, reinvention, and the enduring quest for redemption.

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