Jordan Belfort is an American entrepreneur, author, former stockbroker, speaker, and convicted felon.
Belfort was the founder of Stratton Oakmont firm and used it to engage in his different illegal activities where he was found guilty of fraud and manipulation of the stock market.
As of August 2021, he has a net worth of $2 million from earnings through his famous speeches, published books, and other endeavors.
Jordan Ross Belfort was born on July 9, 1962, in Queens, New York. He is the son of Max and Lea Belfort who are both accountants. Jordan Belfort is also the brother of Robert Belfort.
At an early age, Jordan found an interest in doing business.
During Belfort’s free time, he would sell Italian desserts to local tourists with his friend and earn up to $20,000.
After graduating from American University with a degree in biology, Belfort enrolled in the University Of Maryland School Of Dentistry but soon dropped out after being told by the dean that dentistry was the wrong place to make a lot of money.
Belfort became a salesman in Long Island, New York after leaving the university. His work was as a meat and seafood door-to-door salesman.
The business was successful because of his exceptional skills in selling. His business grew into a company that employed people to expand and take charge of operations.
However, the business collapsed with the intense competition. He failed to keep the business afloat and this resulted in Belfort filing for bankruptcy when he was only 25.
Shortly after filing for bankruptcy, his family friend helped him land a job as a trainee stockbroker at L.F. Rothschild.
Although he worked for a short period of time there, Belfort was fired when the company started having financial problems.
Belfort was determined to take all his experience and failures from his previous jobs into a new opportunity to get rich.
He applied everything he learned at Rothschild and launched his own firm, Stratton Oakmont.
The firm was originally a subsidiary of Stratton Securities but eventually, Belfort bought it out from the original founder and gained total control of the company.
Behind the successful Belfort and Stratton Oakmont, Stratton Oakmont marketed penny stocks, coming from a boiler room setting.
Aside from that, Belfort defrauded all his investors through a pump-and-dump scheme, which the National Association of Securities of Dealers was suspicious of.
Since nobody knew at that time, Belfort and his employees profited so much from Stratton Oakmont’s success that it reached over $1 billion worth of assets.
There was no point in denying that Belfort was getting richer. He shifted his ordinary way of life into a luxurious lifestyle and enjoyed expensive parties, toys, mansions, and cars.
Belfort was also involved in the use of recreational drugs. His favorite among the drugs was Quaaludes and became addicted to it.
However, his addiction has brought problems at work such as reckless behavior toward his workers and vehicular accidents.
In 1999, when the National Association of Securities Dealers closely monitored the company and discovered the illegal activities, they gathered enough evidence and decided to expel Stratton Oakmont which led to completely shutting down the business.
When the company closed, Belfort was arrested for committing money laundering, misdemeanor behavior with his co-workers, and security fraud.
Aside from Belfort, his business partner, Danny Porush was also arrested.
Belfort was sentenced to four-year imprisonment but only served 22 months in exchange for cooperating with the prosecutors and striking a plea deal with the FBI for running the pump-and-dump scheme.
The deal was that Belfort would testify against his business partner and would pay back $110.4 million that he stole from all of his clients.
Up to this day, Belfort still has not completely paid back everything.
From being a stockbroker, Belfort changed his career to a motivational speaker after being released from prison.
His talks range from purely motivational talks to sales skills that he learned from his past businesses.
His speaking engagement is usually arranged by his business, Global Motivation, Inc. There is an expensive charge to book an engagement and it ranges between $30,000 and $80,000.
Other than being a motivational speaker, Belfort is now a well-known writer.
His known works are “The Wolf of Wall Street” and “Catching the Wolf of Wall Street” which were published internationally and available in different languages.
In 2013, his memoir entitled “The Wolf of Wall Street” was adapted into a film in Hollywood.
The stars included Leonardo DiCaprio, Margot Robbie, Matthew McConaughey, and Jonah Hill. The movie was very successful and Belfort reportedly earned a lot from it in movie rights.
In 1985, Belfort married his first wife, Denise Lombardo. At this time, Belfort was busy running Stratton Oakmont so in 1991, they got divorced.
Shortly after the divorce, Belfort met Nadine Caridi, a British-born model that he met at a party and married her the same year. They had two children together.
However, Caridi accused him of domestic violence. It was likely due to Belfort’s involvement in drugs and infidelity. In 2005, they were officially divorced.
In 2008, Belfort began dating Anne Koppe, a businesswoman who managed Belfort’s career. They married in 2012 but later on separated.
In 2021, Belfort is currently dating Cristina Invernizzi, a professional model and actress.
Jordan Belfort Total Net Worth
The latest net worth of Jordan Belfort is around $2 million. It is a high net worth credited from his published works and speaking engagements.
Jordan Belfort showed the value of never giving up despite numerous failures in business. As long as there is perseverance and willingness to learn, then you will succeed in your own time.
Because of Belfort’s debts, he still had to pay a sum estimate of $100 million in restitution to the victims of his scheme, which is why some consider his current net worth is -$100 million.