Jordan Belfort is an American author, motivational speaker, and former stockbroker. Jordan Belfort is infamous for the swindling of millions of dollars from investors in the 1990s.
Early Life and Childhood
Jordan Ross Belfort was born on July 9, 1962, and is currently 60 years old. His zodiac sign is Cancer. Likewise, he was born in The Bronx, New York City, United States of America. He is American by nationality while he belongs to the Jewish ethnic group. Similarly, his parents are Leah Belfort and Max Belfort. He has an elder brother named Robert Belfort.
Furthermore, reflecting upon his alma mater, he studied at Bayside High School. Likewise, he graduated from American University with a degree in Biology. Furthermore, he enrolled at the University of Maryland School of Dentistry and studied dentistry. However, he dropped out of school after knowing that, dentistry will not be the path to success.
Jordan Belfort – Net Worth 2023
Being ‘The Wolf of Wall Street, Jordan has earned millions through his investment company Stratton Oakmont. However, after the case of money swindling, he had to pay $110 as restitution which he did not pay the full amount. After working as a motivational speaker, currently, he has a net worth of $2 million.
Jordan started his career during his graduation days. He worked as a door-to-door salesperson in Long Island. It was operating a meat and Seafood Company. Likewise, the venture became successful after a certain time. It was able to make plenty of workforce and able to move the product each week. However, the company shut down and faced bankruptcy in the mid-80s. Certainly, after filing for bankruptcy in the bank, he became interested in the stock market.
Furthermore, after the shutdown of his firm, a family friend of his helped him to find a job as a trainee stockbroker at L.F. Rothschild. Similarly, he then worked at various Investors Center, and penny stock houses, and gained much insight into stock markets and securities. A year later he opened a franchise of broker-dealers named Stratton Securities. Moreover, by the end of the 1980s, he along with his friend has earned enough money to buy the franchise.
Soon he along with his friend/partner, Danny Porush became the founder of the financial firm Stratton Oakmont which is an over-the-counter brokerage house. The firm worked as a catalyst that marketed penny stocks and defrauded many investors with the ‘pump and dump’ type of stock sales. ‘Pump and Dump’ is a form of securities fraud that involves artificial inflation of the prices of an owned stock through a false and misleading positive statement. In order to sell the cheaply purchased stock at a higher price.
Soon, he began earning millions through the stock market leading him to live a lavish lifestyle. He developed a lifestyle of having lavish parties and intensive recreational use of drugs mainly ‘Methaqualone’ which was sold to him under the brand name ‘Quaalude’ resulting in his severe addiction. His lifestyle is shown in a famous American black comedy crime biopic movie, ‘The Wolf of Wall Street’ in which the role was played by Leonardo Di Caprio.
Moreover, the firm at one point had over 1000 stockbrokers and was involved in stock issues with more than $1 billion. It even included being the IPO for footwear company Steve Madden Ltd. However, with this ravishing profit, Stratton was in a target of law enforcement officials throughout history. It was under constant scrutiny by the National Association of Securities Dealers and in December 1996 NASD expelled Stratton Oakmont for money laundering and securities fraud cases.
Charges and Restitution
Furthermore, Jordan was sentenced to four-year jail at the Taft Correctional Institution in Taft, California, in exchange for a plea bargain with the FBI. However, he spent only 22 months on the scam of pump-and-dump which led the investor to bear a loss of approximately $200 million. Additionally, he was charged $110.4 million for swindling the stock buyers. As restitution, he was required to pay 50% of his income to the 1,513 clients which he defrauded until 2009. However, by 2013, he paid only $10 million out of $11.4 million and that much amount was only able to forfeit.
Likewise, in October 2013, federal prosecutors filed a complaint against him for not paying enough restitution amounts. Moreover, the prosecutors also accused that he flew to Australia in order to avoid tax and conceal his asset from the victim. However, they recanted their statement to Wall Street Journal and further issued an official apology to the Wall Street Journal. Additionally, he also offers to pay 100% royalty money from his books and ‘The Wolf of Wall Street’ to restitution but the government has refused the offer.
Author and a Motivational Speaker
While serving 22 months in prosecution, Jordan shared the cell with Tommy Chong, a Canadian-American actor, writer, director, musician, cannabis rights activist, and comedian. He encouraged him to write about his experience as a stockbroker which became a motivation for him to make a career as an author and a motivational speaker.
Likewise, he has published two memoirs, ‘The Wolf of Wall Street’ and ‘Catching the Wolf of Wall Street’. He published it in more than 40 countries and translated it into 18 languages. Likewise, he conducts many motivational programs and makes a tour of live seminars too. He has made frequent seminars in Australia entitled, ‘The Truth Behind His Success’ which is a very popular seminar series. Additionally, he also runs a sales seminar named ‘Jordan Belfort’s Straight Line Sales Psychology’ and has a corporation named ‘Global Motivation Inc. in this he gives motivation on business ethics, sales skills, and entrepreneurship.
Jordan is currently dating businesswoman Anne Koppe. However, there is no information regarding how they met. Likewise, he has two children with his former partner Nadine Caridi. He met Nadine at the party and was a British-born model. However, their relationship ended after she reported being a victim of domestic violence from him.
Jordan stands a height of 5 feet 7 inches tall (67 inches) and weighs 68 kg (150 lbs). He has a fair-looking appearance and has light brown hair color and hazel-brown eyes color. However, there is no information about his body measurement.
Jordan Belfort – Social Media
Reflecting upon his social media presence, he has a Twitter and Instagram account. He joined in November 2008 with the name @wolfofwallst and has 202.6K followers. Likewise, his Instagram handle is @wolfofwallst, and has 1 million followers.