Jordan Belfort net worth is estimated to be -$100 million. This means that he owes more money than he owns.
This is mainly due to the restitution payments that he was ordered to make to his victims. He was supposed to pay $110 million in total, but he has only paid around $14 million. He also lost most of his assets, such as his yacht, his mansion, and his cars, after his conviction.
He is best known for his memoir The Wolf of Wall Street, which was adapted into a film starring Leonardo DiCaprio in 2013. He was involved in a massive fraud scheme that cost investors millions of dollars and landed him in prison for 22 months.
Early Life and Career
Jordan Belfort was born on July 9, 1962, in the Bronx borough of New York City. His father Max and his mother Leah were both accountants.
He and his childhood friend Elliot Loewenstern earned $20,000 selling Italian ice from styrofoam coolers to people at a local beach.
He graduated from American University with a degree in biology. Then he started a meat and seafood business in New York, but eventually failed. He filed for bankruptcy at 25.
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From Stockbroker To “The Wolf Of Wall Street”
Then he became a trainee stockbroker at L.F. Rothschild, where he learned the basics of the stock market. He was laid off after the firm suffered losses due to the Black Monday crash of 1987.
He founded Stratton Oakmont as a franchise of Stratton Securities, then later bought out the original founder. He and his partner Danny Porush used a “Pump and dump” scheme to inflate the prices of penny stocks and defraud investors.
Belfort made millions of dollars from his illegal activities and lived a lavish lifestyle that involved drugs, parties, prostitutes, and yachts. He was nicknamed “The Wolf of Wall Street” by the media for his predatory behavior and ruthless ambition.
He was indicted in 1998 for securities fraud and money laundering. He pleaded guilty in 1999 and agreed to cooperate with the authorities in exchange for a reduced sentence. He spent 22 months in prison and was ordered to pay $110 million in restitution to his victims.
After his release from prison, he reinvented himself as a motivational speaker and author. He wrote two memoirs: The Wolf of Wall Street (2007) and Catching the Wolf of Wall Street (2009), which detailed his rise and fall in the financial world.t
Jordan Belfort Net Worth Over the Years
Jordan Belfort net worth has fluctuated significantly over the years, depending on his income, expenses, and legal troubles.
Here is a brief overview of his net worth over the years:
- In the late 1980s and early 1990s, Belfort founded and ran Stratton Oakmont brokerage firm. He made millions of dollars from his illegal activities and lived a lavish lifestyle that involved drugs, parties, prostitutes, and yachts. According to one source, he was worth a whopping $93 million at the height of his stockbroking career.
- In 1998, Belfort was indicted for securities fraud and money laundering. He pleaded guilty in 1999 and agreed to cooperate with the authorities in exchange for a reduced sentence. He was ordered to pay $110 million in restitution to his victims.
- After that, Belfort’s net worth is estimated to be roughly -$100 million as of August 2023.
- After his release from prison, Belfort reinvented himself as a motivational speaker and author. He wrote two memoirs: The Wolf of Wall Street (2007) and Catching the Wolf of Wall Street (2009).
- His first book was adapted into a film by Martin Scorsese in 2013, starring Leonardo DiCaprio as Belfort. He received $500,000 in advance for the first memoir and $940,500 for the film rights to the book. Belfort allegedly claims he gave all of this money to his victims, but there is no proof he ever did.
- Currently, Belfort works as a motivational speaker and runs his own company, teaching marketing techniques and providing sales training to businesses. He also wrote a third book, Way of the Wolf, in 2017.
- He earns an estimated $30,000 to $75,000 per speaking engagement. He also makes money from his YouTube channel, podcast, online courses, and merchandise. However, it is unclear how much of his income goes towards paying off his debt.
Conclusion
As the notorious former stockbroker, his life story has captivated millions around the globe. From his meteoric rise on Wall Street to his personal and professional downfall, Belfort’s journey serves as both a cautionary tale and a source of inspiration.
Despite the controversies surrounding his past, there is no denying that Belfort’s ability to amass wealth was unparalleled. With an estimated net worth of hundreds of millions, his achievements in business cannot be overlooked.
Whether you idolize or vilify him, Jordan Belfort net worth is a testament to the power of ambition and the potential for financial success, regardless of the path one might take to achieve it.
