Jordan Belfort Net Worth Update 2024

By Dinesh Bajaj

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Dinesh, Jordan Belfort Net Worth rise and fall on Wall Street epitomizes a tale of ambition, excess, and redemption. Born on July 9, 1962, in The Bronx, New York, Belfort navigated the realms of sales and finance, ultimately founding the infamous firm Stratton Oakmont. His life story, immortalized in the film “The Wolf of Wall Street,” showcases a journey from financial success to legal turmoil, resulting in a net worth of negative $100 million.

CategoryRichest Business › Wall Street
Net Worth-$100 Million
BirthdateJuly 9, 1962 (61 years old)
BirthplaceThe Bronx
GenderMale
ProfessionMotivational Speaker, Entrepreneur, Author, Film Producer, Screenwriter
NationalityUnited States of America

What is Jordan Belfort Net Worth

Jordan Belfort Net Worth, an American former stockbroker, convicted felon, and author, currently holds a net worth of negative $100 million.

During the period from 1989 to 1996, Belfort operated the financial firm Stratton Oakmont, which orchestrated pump-and-dump schemes resulting in the fraudulent extraction of hundreds of millions of dollars from unsuspecting victims. In 1999, both Belfort and his co-founder Danny Porush were indicted for securities fraud and money laundering, eventually pleading guilty. They received reduced sentences in exchange for their cooperation with prosecutors.

Belfort’s life was loosely depicted in the 2013 film “The Wolf of Wall Street,” starring Leonardo DiCaprio and directed by Martin Scorsese. Critics argue that the filmmakers failed to accurately portray the devastation caused by Belfort’s actions to his victims, many of whom were ordinary individuals unable to afford the financial losses incurred. Additionally, Belfort’s cameo appearance in the movie’s conclusion further elevated his fame, enabling him to embark on a new career as a motivational speaker. In contrast, the 2000 film “Boiler Room,” loosely inspired by Belfort and Stratton Oakmont, provides a more balanced depiction of the impact of financial fraud on victims.

Restitution

Jordan Belfort Net Worth fraudulent activities, he embezzled approximately $200 million from 1,513 victims. At his sentencing in 2003, he was mandated to reimburse $110 million as restitution. Serving a reduced four-year prison term after cooperating with the FBI as an informant, he wore a wire to implicate former partners and associates. Released in April 2008 after serving 22 months.

Originally, he was required to allocate 50% of his gross income to his 1,513 victims. From 2007 to 2009, he contributed $700,000 towards restitution but made no payments in 2010.

In 2011, Jordan sold the film rights to his two memoirs to Red Granite Pictures for $1.045 million. Receiving an upfront payment of $940,500, he was scheduled to receive $250,000 in 2012. Despite restitution terms dictating a payment of around $500,000 to his victims in 2011, he only disbursed $21,000. In 2012, the US government pressured Red Granite to directly pay $125,000 (half of his $250k payment). Consequently, his total payment for 2012 amounted to $158,000.

In 2013, the United States government adjusted Jordan’s restitution plan, changing it from 50% of all gross earnings to a minimum of $10,000 per month for life.

To date, Jordan has only paid back approximately $13-14 million towards restitution, with the majority ($11 million) coming from the sale of forfeited property at sentencing. As a result, he still owes his victims roughly $100 million.

In 2018, prosecutors brought Jordan Belfort Net Worth back to court over the roughly $9 million he earned in speaking fees between 2013 and 2015. Allegedly, none of this money was allocated towards restitution.

Invented “Wolf of Wall Street” Nickname

You may recognize Jordan Belfort Net Worth from the 2013 film “The Wolf of Wall Street.” While the movie is loosely based on his 2007 memoir of the same name, Jordan was not commonly known as “the Wolf of Wall Street” during his finance career.

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Instead, Jordan Belfort Net Worth gave himself this nickname while writing his memoir in jail.

In the Martin Scorsese film, which was partially funded with money embezzled from the Malaysian government, the origin of the nickname is portrayed as if a Forbes writer bestowed it in a 1991 magazine cover story. However, this depiction is inaccurate. The actual Forbes article was titled “Steaks, Stocks – What’s the Difference?” – referencing Belfort’s prior job selling steaks and seafood door-to-door on Long Island. The article later described Jordan as a “twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.” It also characterized his business model as “pushing dicey stocks on gullible investors.” Notably, there is no mention of him being called a “wolf” in the article.

KEY FACTS

  • Bought a white Ferrari with first Wall Street bonus
  • Sank a 167-foot yacht in a Mediterranean storm
  • Once ran up a $700,000 hotel bill
  • Once made love to his wife on a bed of $3 million in cash
  • Made $50 million in a single year at his peak
  • Prosecutors later alleged his financial scams cost investors $200 million
  • Was ordered to pay $110 million in restitution
  • Has paid back $13 million worth of the restitution
  • Charges $30,000 to $70,000 for a single speaking engagement

Early Life

Jordan Ross Belfort was born on July 9, 1962, in The Bronx, New York, and grew up in Bayside, Queens, in a Jewish household. During the summer between high school and college, Belfort and a close friend earned $20,000 by selling Italian ice from coolers to beachgoers. He completed his undergraduate studies in biology at American University. Initially, Belfort pursued dental school at the University of Maryland but left after the first day when a faculty member discouraged him by stating that dentistry was not a path to wealth.

Career

Belfort began his career by selling meat and seafood door-to-door on Long Island, New York. His small operation quickly expanded, employing several individuals and selling 5,000 pounds of beef and fish weekly. However, financial difficulties led him to file for bankruptcy at the age of 25. Subsequently, he entered the world of finance as a trainee stockbroker at L.F. Rothschild. It’s rumored that his initial boss advised him that success lay in indulging in vices like masturbation, cocaine, and hiring prostitutes. Following the 1987 stock market crash, he was let go from the firm. Undeterred, Belfort was determined to achieve the wealth he witnessed among senior brokers.

In the late 1980s, he immersed himself in various financial institutions, absorbing knowledge and perfecting his sales techniques. By 1989, he took the leap to establish his own firm, Stratton Oakmont. Operating in the early 1990s, the company specialized in marketing penny stocks through aggressive sales tactics in a boiler room environment. Belfort orchestrated pump-and-dump schemes to deceive investors. At its peak, Stratton Oakmont boasted over 1,000 brokers and managed more than $1 billion in assets. However, scrutiny from the National Association of Securities Dealers led to their expulsion in December 1996, resulting in the firm’s closure.

Reportedly, Belfort funneled his illicit earnings into Swiss bank accounts, with assistance from his mother-in-law and wife’s aunt. During his tenure at Stratton Oakmont, he allegedly hosted extravagant parties, including controversial events like midget-tossing competitions.

Motivational Speaking Career

Belfort, after his prison release, transitioned into a motivational speaker, establishing Global Motivation, Inc. He spends roughly three weeks per month traveling, delivering speeches on business ethics and learning from mistakes. Reflecting on his past, he acknowledges justifying rule-breaking due to its prevalence in the 1990s financial industry. However, his speaking engagements come at a high price, ranging from $30,000 to $75,000 for regular speeches and starting at $80,000 for sales seminars. Despite efforts, Belfort’s speeches receive mixed reviews, with criticism focusing on glorifying past regulatory violations.

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Writing Career

Belfort wrote the memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” which have been published in about 40 countries and translated into 18 languages. “The Wolf of Wall Street” was adapted into a movie starring Leonardo DiCaprio, Jonah Hill, and Margot Robbie, directed by Martin Scorsese. Additionally, he authored “Way of the Wolf: Become a Master Closer with Straight Line Selling,” released in 2017.

Personal Life

During his time at Stratton, Belfort lived lavishly and frequently hosted parties. He also used recreational drugs, particularly methaqualone or quaaludes. His former head of security, Bo Dietl, mentioned in an interview that Belfort was rarely sober during his tenure and had significant connections to the Mob.[Jordan Belfort Net Worth]

Belfort divorced his first wife, Denise Lombardo, during his Stratton Oakmont days. They were married from 1985 to 1991. In 1991, he married British-born model Nadine Caridi, whom he met at a party. They had two children together—Chandler and Carter. Their marriage ended in 2005 amid allegations of domestic violence, likely drug-related. In 2008, Belfort married Anne Koppe, but they divorced in 2020. In 2021, he began dating Cristina Invernizzi.

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Tommy Chong, Belfort’s prison cellmate, encouraged him to write “The Wolf of Wall Street.”

Belfort acquired the luxury yacht Nadine, originally designed by Coco Chanel in 1961. He renamed it after his second wife. However, the vessel sank off the coast of Sardinia in June 1996. Fortunately, everyone aboard was rescued by the Italian Navy’s Special Forces. Belfort later admitted that he insisted on sailing the yacht in high winds against the advice of the ship’s captain.

Real Estate

In 2001, the federal government seized Belfort’s Long Island, New York mansion and then sold it to pay back some of Belfort’s fraud victims. Since then, the property has changed hands multiple times. It was listed for sale in 2017 at $3.4 million but saw a price reduction to $2.89 million in August 2018.

In conclusion, Jordan Belfort Net Worth journey from Wall Street mogul to convicted felon and subsequent reinvention as a motivational speaker and author encapsulates a story of both greed and redemption. Operating Stratton Oakmont during the late 1980s and early 1990s, Belfort orchestrated elaborate schemes, defrauding countless investors of millions. His exploits, depicted in the film “The Wolf of Wall Street,” shed light on the excesses and ethical shortcomings prevalent in the financial industry during that era. [Jordan Belfort Net Worth]

FAQS

1. What was Jordan Belfort’s highest net worth?

Jordan Belfort Net Worth. The estimated net worth of Jordan Belfort is $100 to $134 million.

2. How much is Stratton Oakmont worth?

Based on the movie and the book, Belford owned about 50% of the firm and he was worth USD 200 million at its peak and this would just mean that Stratton Oakmund was worth around USD 400 million.

3. What was Jordan Belfort Net Worth in 1990?

During the peak of his financial career, Jordan Belfort Net Worth in 1990 reached an astounding $100 million

4. Does Stratton Oakmont still exist?

Stratton Oakmont, the notorious Long Island, N.Y., boiler room brokerage, was shut down by securities regulators at the end of 1996.

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Dinesh Bajaj

Hi there! I'm Dinesh Bajaj, the founder of ChecksNetWorth.com. I'm passionate about sharing stories and insights about famous personalities' net worth and backgrounds. With over three years of blogging experience, I aim to provide accurate and engaging content for the United States audience. Join me in exploring the lives of your favorite celebrities at ChecksNetWorth.com!

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