Jordan Belfort Net Worth (Money & Salary)
Jordan Belfort Net Worth (Money & Salary)
October 29, 2024
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Curious about Jordan Belfort’s Financial Standing?
With a net worth of negative $100 million, Jordan Belfort charted a controversial path as an American ex-stockbroker, convicted felon, and author. Contrary to common belief, “the wolf of Wall Street” moniker was not part of his Wall Street persona, but an identity he coined while penned in jail.
Operating from 1989 to 1996, Belfort’s Stratton Oakmont was at the center of illicit activities, constructing pump-and-dump maneuvers that drained millions from unsuspecting investors. His legal woes began in 1999 with indictments for securities fraud and money laundering, leading to reduced sentences following cooperation agreements.
The 2013 movie “The Wolf of Wall Street” loosely mirrored Belfort’s life, featuring Leonardo DiCaprio and directed by Martin Scorsese. However, critics argue that the film glamorized Belfort’s actions without adequately presenting the havoc caused to victims. In contrast, the 2000 film “Boiler Room” presents a more balanced view of the aftermath of financial fraud.
Restitution Process
During his period of financial deceit, Belfort swindled approximately $200 million from 1,513 individuals. In his 2003 trial, he was mandated to repay $110 million as restitution, alongside a four-year incarceration term. After aiding authorities as an informant, his sentence was reduced to 22 months, concluding in his release in April 2008.
Per the original arrangement, Jordan was to channel 50% of his earnings to his victims. Albeit paying $700,000 between 2007 and 2009, he contributed nothing in 2010. His restitution deviations drew attention when he sold film rights in 2011, earning $1.045 million. Despite owing his victims a significant portion, only minimal repayments were made.
In 2013, a revised plan stipulated a minimum monthly payment of $10,000 for life, having paid back around $13-14 million. Unsettled claims amount to roughly $100 million, with legal frictions resurfacing in 2018 over unaccounted speaking fees.
Origin of “Wolf of Wall Street” Title
The movie’s 2013 release was inspired by Jordan’s 2007 memoir, a narrative augmented by the self-attributed “Wolf of Wall Street” characterization. Despite prevalent media references, this title never epitomized Jordan’s reality in the finance sector, originating during his incarcerated memoir rendering.
While the film portrays a Forbes endorsement of this title in a 1991 feature, actual archival references depict an alternate narrative, emphasizing Belfort’s dubious ventures. His financial transgressions, encapsulated in $200 million investor claims, underscore the moral and financial debts that continue to color his legacy.
Early Life
Born in The Bronx, New York, on July 9, 1962, Jordan Ross Belfort was raised in Bayside, Queens, in a Jewish family. In the summer between high school and college, he and a close friend earned $20,000 selling Italian ice from coolers on the beach. Belfort holds a degree in biology from American University and briefly attended dental school at the University of Maryland School before realizing that being a dentist wasn’t a path to wealth.
Career
Initially selling meat and seafood door-to-door in Long Island, New York, Belfort’s entrepreneurial venture grew rapidly before he filed for bankruptcy at the age of 25. He then began his stint as a stockbroker trainee at L.F. Rothschild, eventually founding his own firm Stratton Oakmont in the early 1990s. The firm specialized in selling penny stocks through unethical practices, leading to its downfall in 1996 after being expelled from the National Association of Securities Dealers.
During his time at Stratton Oakmont, Belfort reportedly funneled money into Swiss banks with the help of family members. Notorious for his extravagant lifestyle, he allegedly organized lavish parties with controversial activities like midget-tossing contests.
Motivational Speaking Career
Post-prison release, Belfort transitioned into a motivational speaker through his company Global Motivation, Inc. Traveling extensively, he delivered speeches on business ethics and learning from mistakes. His speaking engagements ranged from $30,000 to $75,000, with sales seminars costing $80,000 and up. However, his speeches have faced criticism for his nonchalant attitude towards past financial misconduct.
Writing Career
Belfort authored the bestselling memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” later adapted into a film starring Leonardo DiCaprio. His book “Way of the Wolf: Become a Master Closer with Straight Line Selling” was released in 2017.
Personal Life
During his Stratton Oakmont days, Belfort indulged in a lavish lifestyle marked by frequent parties and drug use, particularly quaaludes. Former associates revealed his ties to organized crime and his perpetual state of inebriation during that period.
Belfort has been through multiple marriages and divorces, with accusations of domestic violence and drug-related behavior. Notably, he was cellmates with Tommy Chong in prison, who inspired him to write “The Wolf of Wall Street.”
The luxury yacht Nadine, owned by Belfort, sank off the coast of Sardinia in 1996 after he ignored warnings and ventured into rough seas.
Long Island Mansion
In 1992, Belfort purchased a 9,000-square-foot mansion on two acres in Old Brookeville, New York, for $5.775 million. It was seized by the federal government in 2001 and later sold to compensate fraud victims. The property was listed in 2015, eventually selling in 2018 for $2.4 million after a price reduction from its initial $4.75 million.
2023 and 2024 provide the data, while the forecast extends to 2025, 2026, 2027, and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Jordan Belfort Net Worth (Money & Salary)