Jordan Belfort is a former stockbroker, author, and motivational speaker who was convicted of fraud and related crimes in connection with his operation of a penny stock scam. He spent 22 months in prison as part of an agreement under which he agreed to pay back $110.4 million that he defrauded from investors.
Belfort was born in 1962 in the Bronx, New York. His parents were both accountants. He attended college at the University of California, Los Angeles (UCLA), where he studied biology and psychology. After graduation, he worked as a trainee stockbroker at L.F. Rothschild.
Jordan Belfort Career
In 1987, Belfort founded Stratton Oakmont, Inc., a brokerage firm that engaged in a practice known as “pump and dump.” This involved artificially inflating the price of penny stocks through aggressive marketing, then selling them at the inflated price. Belfort and his firm made millions of dollars through this scheme.
In 1989, Belfort was featured in a Forbes magazine article entitled “The Wolf of Wall Street.” The article detailed Belfort’s massive wealth and lavish lifestyle.
In 1990, the U.S. Securities and Exchange Commission (SEC) began investigating Stratton Oakmont. In 1992, the SEC filed civil charges against Belfort and his firm, alleging securities fraud. The case was settled out of court, with Belfort agreeing to pay back $8 million to investors and to be barred from serving as an officer or director of a public company.
For more information on Jordan Belfort, be sure to follow his Instagram account.
Jordan Belfort Wolf of Wallstreet
In 1996, Belfort published his memoir, The Wolf of Wall Street, which was later made into a film starring Leonardo DiCaprio.
In 2003, Belfort was indicted on federal charges of securities fraud and money laundering. He pleaded guilty and agreed to cooperate with prosecutors in their case against his former business partner, Andrew Caspersen. In 2004, Belfort was sentenced to four years in prison. He was released early for good behavior after serving 22 months.
Since his release from prison, Belfort has worked as a motivational speaker and author. His website, JordanBelfort.com, sells training programs that purport to teach people how to make millions of dollars through sales.
Belfort’s story was adapted into a 2013 film directed by Martin Scorsese and starring Leonardo DiCaprio. The film was a critical and commercial success, grossing over $300 million worldwide.
Interesting Facts About Jordan Belfort
1. Jordan Belfort was born in 1962 in New York City. He is best known as the real-life inspiration for the film “The Wolf of Wall Street”, which chronicled his rise and fall as a stockbroker during the 1990s.
2. Belfort grew up in Queens, New York and showed interest in sales from a young age, selling candy bars to classmates at school to make extra money.
3. In his early twenties, he got a job on Wall Street as a trainee stockbroker at L.F. Rothschild & Co., where he learned all about the ins and outs of the financial industry. He quickly rose through the ranks, making millions of dollars by trading stocks with other firms.
4. In 1987, he started his own stockbrokerage firm, Stratton Oakmont Inc., which was soon making millions of dollars a year in profits. He became known as the “Wolf of Wall Street” because of his aggressive sales tactics and extreme success on the trading floor.
5. Belfort also founded an investment company named Long Island Capital Alliance (LICA) that used high-pressure techniques to scam poor people out of their life savings by promising them outrageous returns on investments that never materialized. His fraudulent activities were eventually uncovered by regulators and he was arrested in 1998 along with many other members of Stratton Oakmont.
6. Belfort served 22 months in federal prison for fraud and money laundering, and was ordered to pay back over $100 million in restitution to his victims. After he got out of prison, he wrote a book titled “The Wolf of Wall Street” which inspired the film starring Leonardo DiCaprio. He now lives in California and gives motivational speeches around the world.
7. Jordan Belfort is considered one of the most successful stockbrokers ever, despite his unethical business practices and criminal convictions for financial fraud. Even though he spent time behind bars for his actions, many people still view him as a role model because of his meteoric rise from humble beginnings to wealth and power on Wall Street.
8. Today, Belfort runs an international speaking company called The Straight Line Method that helps entrepreneurs develop the skills and mindset necessary to achieve success in business. He also uses his celebrity status to promote charitable causes, and donates time and money to various philanthropic organizations around the world.
9. Despite his many successes, some people believe that Jordan Belfort is a cautionary tale about the corrupting influence of greed and power on Wall Street. Regardless of what you think of him, there’s no denying that he was one of the most influential traders in modern history and helped shape the way we stockbrokers today.
Jordan Belfort Net Worth – $100 Million USD
Jordan Belfort is an American author, motivational speaker, and former stockbroker who was convicted of fraud and related crimes in connection with the operation of his namesake firm, Stratton Oakmont. As of 2021, Jordan Belfort’s net worth is estimated to be $100 million.