Jordan Belfort is a former stockbroker, motivational speaker, author, and financial criminal from the United States. In 1999, he was charged with fraud and money laundering regarding his firm Stratton Oakmont’s market manipulation schemes, which cost investors millions of dollars.
Contents
Early Life and Career
Jordan Belfort, who was born in 1962 and grew up in Queens, New York, displayed an early aptitude for business. In his autobiography The Wolf of Wall Street, Belfort claims that he and a friend operated a beach side business selling Italian water ice treats out of low-cost Styrofoam coolers. Between high school and college, Belfort and his partner made a staggering $20,000 during the summer.
Belfort planned to use the money he had saved from his previous business to enroll in dental school while studying biology at American University. Belfort left the University of Maryland School of Dentistry on the first day after hearing from the principal that practicing dentistry would not make him financially successful.
After a brief stint in dental school, one of Belfort’s first jobs was as a door-to-door salesman in Long Island. He claimed that the business was a success and that he was able to expand it until he had a team of several employees who could transport more than two tons of cargo (in this case, meat and seafood) each week.
In 1988, When he was 25 years old, the company failed, and he declared bankruptcy. Only then did he develop an interest in stockbroking, which led him to pursue a job in the pitch with the assistance of a relative.
When Belfort was close to turning 30 in the late 1980s, he founded the over-the-counter brokerage house Stratton Oakmont. Over the ensuing years, Stratton Oakmont performed remarkably well and was associated with the initial public offerings of close to thirty different businesses.
Jordan Belfort’s Personal Life
Jordan Belfort’s personal life wasn’t much different from his business life, which was turbulent and prone to unethical behavior. Belfort had already separated from Denise Lombardo while running his business, Stratton Oakmont.
You may also be familiar with Naomi, played by Margot Robbie in the film “Wolf of Wall Street,” who was Jordan Belfort’s wife. Naomi’s real name is Nadine Caridi, and she is Belfort’s second wife.
Jordan Belfort and Nadine Belfort had two children together (or Belfort and Naomi in the film), but they ultimately got divorced in 2015 due to allegations of domestic abuse.
Nadine Caridi, the ex-wife of financier Jordan Belfort, now works as a therapist under the name Nadine Macaluso and uses social media to support other women who are in abusive relationships. After realizing that all of Belfort’s wealth was “blood-money,” Nadine claimed she “walked away from my marriage with absolutely nothing,” figuring “it was the right thing to do.”
After his second wife Nadine Caridi (or Naomi in the “Wolf of Wall Street” movie), Jordan Belfort gave his yacht, which had previously been constructed for Coco Chanel in 1961, that name. In 1996, after Belfort insisted on sailing out against the captain’s advice in strong winds, it finally sank off the east coast of Sardinia.
Jordan Belfort Net Worth
Jordan Belfort’s net worth is thought to have peaked in 1998 at around $400 million, though exact figures are unknown and these are just estimates.
Jordan Belfort currently has an estimated net worth of $115 million, which he acquires through his writing, acting, and motivational speaking.
Jordan Belfort’s Assets & Investments
Jordan Belfort’s Investments & Assets twelve residential properties, nine automobiles, and three luxury yachts are among Jordan Belfort’s assets. Additionally, he has $32 million in cash reserves in his asset portfolio.
In addition, Jordan Belfort has a $8 million investment portfolio consisting of 8 stocks. The following is a list of some of Jordan Belfort’s stocks.
Visa
Walmart
Apple
FedEx
Common Motors
Jordan Belfort’s Car Collection
Recently, he paid $90,000 USD for a brand-new Alfa Romeo Giulia. A Jaguar XE that he also owns is worth more than $125,000 USD. Below is a list of Jordan Belfort’s other vehicles, along with their prices.
- Lexus ES – $135,000 USD
- Ferrari Portofino – $700,000 USD
- Bugatti Chiron – $3 Million USD
Jordan Belfort’s real estate
In New York, Jordan Belfort resides in an opulent 10,000 square foot residence. Jordan Belfort purchased this home at a cost of $27 million USD.
Scams, Fraud, and Other Crimes
The illegal actions that led to Belfort’s imprisonment were carried out while he was serving as the founder of Stratton Oakmont. The price of penny stocks was artificially inflated by Stratton Oakmont through the use of pump-and-dump schemes, among other frauds.
The company operated like a boiler room, pressuring investors to invest their money in risky securities. The company reportedly employed about 1,000 stockbrokers at its height, who oversaw investments totaling more than $1 billion.
The National Association of Securities Dealers (NASD) has consistently taken legal action against Stratton Oakmont throughout its existence. After 7 years, he shutdown the company in 1996.
Belfort and his friend Danny Porush were charged with securities fraud and money laundering in 1999.
For the pump-and-dump schemes and manipulation of penny stocks, which costed his investors over $250 million, Belfort admitted to fraud. He received a 4 year prison term, but released only after 22 months in May 2006.
Conclusion
KEY TAKEAWAYS
- Jordan Belfort is a former Wall Street stock broker and trader who was found guilty of crimes related to stock market manipulation and pump and dump scheme.
- Belfort is a notorious public figure who wrote two books: the first, The Wolf of Wall Street (2007) and Way of the Wolf (2009). The first book was turned into a blockbuster film in 2013.
- Leonardo DiCaprio portrayed his character in the 2013s Wolf of The Wall Street movie. The movie was a box office hit.
- He has been accused of profiting off the story of his white-collar crimes.
- As the founder of Stratton Oakmont, the firm he ran when he was arrested, Belfort was found guilty of fraud, was sentenced to four years in prison, but served 22 months.He was released in May 2006.
- Belfort is now a renowned motivational speaker running speaking business and continues profiteering off his life experiences.
FAQ
Q1. How much is Jordan Belfort Net worth now?
Jordon Belfort is currently worth -$115 million in2013.
Q2. How much money did Jordan Belfort steal from shareholder?
He has stolen over $250 Million from the investors and shareholders.
Q3. How did Jordan Belfort get rich?
Jordon Belfort started an investment company, Stratton Oakmont, in 1989 that made millions by manipulating penny stocks.
Q4. Who is Jordon Belfort’s current wife?
Jordon Belfort’s wife name is Cristina Invernizzi, who is a model and actress.
Q5. What is Jordon Belfort’s height?
Jordon Belfort stands at 6 feet 2 inches or 1.88 meters.
