Jordan Belfort is a former stockbroker who became famous for his shady dealings back in the 90s. He founded a company called Stratton Oakmont, where he and his cronies used unethical tactics to sell penny stocks to unsuspecting investors. Jordan Belfort’s net worth skyrocketed as he made a boatload of money with this investment scheme, but eventually got caught by law enforcement.
Belfort was charged with securities fraud and money laundering, and he ended up spending almost two years in jail. After he got out, he wrote a book called “The Wolf of Wall Street” that tells the crazy story of his time at Stratton Oakmont. The book was later turned into a movie directed by Martin Scorsese and starring Leonardo DiCaprio. The movie, Wolf of Wallstreet, depicts how wild Belfort’s lifestyle was during his time at Stratton Oakmont.
Despite owing over $100 million in fines as a result of his criminal activity, the net worth of Jordan Belfort today might surprise you.
Early Life
Jordan Belfort was born on July 9, 1962, in Queens, New York City. He grew up in a middle-class family in Bayside, Queens, and attended American University in Washington D.C. He graduated with a degree in biology, but instead of pursuing a career in science he became a door-to-door meat and seafood salesman.
He eventually moved on to selling stocks and started working at L.F. Rothschild, an investment bank, in the late 1980s. Belfort was successful in this role, but he was eventually let go when the firm went bankrupt in 1989.
Undeterred, Belfort decided to start his own brokerage firm, and he founded Stratton Oakmont in 1989 with some friends. The firm started out selling penny stocks, which are low-priced, speculative stocks that are considered high-risk investments. Belfort and his associates used aggressive sales tactics and made false claims to lure investors into buying these stocks. The firm grew quickly throughout the 90’s as did Belfort’s fortune.
The Fall of the Wolf of Wallstreet
Jordan Belfort was convicted of securities fraud and money laundering in 1999. He was charged with defrauding investors through his brokerage firm, Stratton Oakmont, by using manipulative sales tactics and making false claims to sell penny stocks.
Belfort and his associates used a technique called “pump and dump”. Basically, they would artificially inflate the price of a stock by spreading false information or manipulating the market, and then sell their shares at a profit, leaving other investors with worthless stocks. They also used illegal tactics, such as market manipulation and insider trading, to increase their profits even further. Belfort and his cronies made millions of dollars through this scheme.
Belfort’s illegal activities drew the attention of the FBI and other regulatory agencies, leading to an extensive investigation. In 1998, he was caught and ultimately arrested by the FBI for multiple counts of securities fraud and money laundering. Belfort pled guilty to these charges and was sentenced to 22 months in federal prison. He was also ordered to pay restitution to the victims of his fraud.
Jordan Belfort Net Worth Today
Despite his demise, Jordan Belfort’s net worth remains strong today. He has accumulated his wealth as a motivational speaker, sales trainer, and consultant. He is also the author of several books, including the bestselling memoir “The Wolf of Wall Street,” which was adapted into a movie starring Leonardo DiCaprio. Jordan has earned millions of dollars from book sales and royalties from the film.
Belfort’s current work primarily revolves around teaching sales strategies and techniques, and he has spoken at various conferences and events around the world. He charges high fees for speaking engagements, which can range from tens of thousands to hundreds of thousands of dollars per event, depending on the venue and the audience.
In recent years, he has also started a podcast called “The Wolf’s Den,” where he interviews successful entrepreneurs and shares business advice. In each episode, Belfort and his guests discuss their experiences and offer practical advice on topics such as sales strategies, leadership, personal growth, and mindset. The podcast is designed to help listeners improve their sales skills, overcome challenges, and achieve their goals.
As of April 2023, Jordan Belfort’s net worth is estimated to be $115 Million. Because of Belfort’s controversial past, many people remain critical of him and his work. However, others see him as a valuable resource for learning about sales and entrepreneurship. The Wolf of Wallstreet’s net worth is a direct result of his savvy business acumen. Whether you like him or not, one thing remains true, he is good at sales.
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