Love him or hate him, but you cannot ignore Jordan Ross Belfort! An American stockbroker, convicted felon, motivational speaker, and author, Jordan has worn many caps.
Nicknamed the “Wolf of Wall Street”, Jordan’s time as a stockbroker is filled with charges of investor manipulation and defrauding.
In this article, we discuss his lifestyle, controversies, and the journey that his life has been.
What is Jordan Belfort's Net Worth
Name | Jordan Belfort |
Age | 61 years |
Place of Birth | The Bronx, New York City, United States |
Net Worth | $115 million |
Properties Owned | 12 real estate properties, 9 luxury cars, and 3 yachts |
Children | 2 (Carter, Chandler) |
D.O.B | July 9, 1962 |
Spouse | Denise Lombardo (1985-91) Nadine Caridi (1991-2005) Anne Koppe (2008-2020) Cristina Invernizzi (2021-present) |
Jordan Belfort became a household name after the movie The Wolf of Wall Street. The film, directed by Martin Scorsese, showcased his opulent lifestyle.
Belfort’s current estimated net worth is $115 million. Some sources claim that his net worth is negative (-$100 million) as he has been directed by the Court to pay compensation to the money laundering victims. Out of the restitution amount of $110 million, he has only paid $10 million so far.
His net worth at the peak of his career is doubtful. Some say that it was $200 million while others claim it to be over $1 billion. Since Belfort believed in spending his money as fast as he earned it, no one knew what he was worth.
At present, Jordan Belfort earns a living by various means to increase his net worth. He has authored two books: “The Wolf of Wall Street" and “Catching of The Wolf of Wall Street.” Both these books earn him significant revenue.
Another source of his income for increasing his net worth has been from selling film rights of his book, The Wolf of Wall Street. Legal documents show that Red Granite
Productions bought the rights for $1.045 million. I am sure you remember the brilliant, flamboyant, and infamously controversial character of Jordan that Leonardo DiCaprio portrayed in the movie!
Besides these, Jordan is a much sought-after motivational speaker. He conducts virtual and live events regularly. It is said that he charges anywhere between $30,000-$70,000 for his speaking engagements.
His LinkedIn profile tells us that he consulted more than 50 public companies, adding to his net worth.
How Did Jordan Belfort Build His Net Worth?
Jordan earned his net worth largely from stockbroking. He began his career as a stockbroker at L.F Rothschild in New York, United States. He impressed everyone with his amazing ‘selling’ skills and was soon promoted.
Having tasted success, Jordan wanted to fly higher. Along with a friend he founded Stratton Oakmont as a division of Stratton Securities in the United States.
Jordan’s company Stratton Oakmont dealt in Penny stocks i.e. shares of companies with low market capitalization. Such stocks are highly volatile and lack the stability offered by blue-chip stocks.
With his impressive skills and the help of a brilliant staff, Jordan targeted investors and got them to invest in penny stocks. His strategy showed results, and within 5 months they were able to acquire the original owners of Stratton Oakmont.
As a result of the success, the firm Stratton Oakmont expanded and employed more brokers to push the penny stocks on Wall Street. The year 1991 saw Stratton Oakmont establish itself as a profitable firm and generate up to $30 million in commissions.
The phenomenal rise of Stratton Oakmont coincided with a flourishing American economy. The stock market was performing well with many opportunities to make money.
Mr. Belfort and his “boiler room” crew at Stratton Oakmont used illegal tactics and engaged in stock market manipulation. Their infamous “pump and dump” scheme involved artificially inflating the price of penny stocks. Once they picked up shares of unknown companies, they would use high-pressure sale tactics to target amateur investors.
Jordan’s trusted contacts would buy up the stocks to increase the stock price and then sell immediately as the price increased. This led to stock dumping and made it impossible for regular investors to sell and earn a profit.
These tactics made Jordan rich by sharking on $200 million of the innocent investors' money. This securities fraud was a crime for which he and his associate Danny Porush at Stratton Oakmont were accused in 1999.
What Properties & Assets Does Jordan Belfort Own?
Jordan Belfort gathered huge amounts of wealth from illegal stockbroking. But his fraudulent activity was caught. Being charged with money laundering and securities fraud, he spent four years in prison.
As we have all seen in the movie “The Wolf Of Wall Street”, loosely based on his life, Jordan led a luxurious life. Expensive automobiles, parties, drugs, etc., were a part of his extravagant lifestyle.
At the peak of his career, Jordan owned many assets and properties. The Wolf of Wall Street offers us a glimpse into these, including the huge mansion he owned.
The mansion at Long Bay is listed at $10 million, according to the Gentleman’s Journal. This custom-built equestrian estate is spread over 5 acres. It features stables, 14 bedrooms, a basement with a club-like setup, a home cinema, a pool, a poker room, an outdoor entertainment complex, and much more beyond our wildest imaginations!
Besides the mansion, Mr. Belfort also owned a fancy penthouse in Manhattan which you'll also find in the movie. In all, he is said to have owned around 12 real estate properties.
The Wolf of Wall Street also owned a luxury yacht called the “Nadine” named after his ex-wife Nadine Caridi. This huge yacht carried a helicopter, two 6m dinghies on the bow, four motorbikes, six jet skis, and state-of-the-art dive gear, according to Boat International.
But that’s not the end!
He is said to have owned a fleet of cars. A Lexus ES, Ferrari Portofino, Bugatti Chiron, Jaguar XE, Alfa Romeo Guilia,1991 Ferrari Testarossa, etc. He was forced to sell most of his properties and assets to compensate for the securities fraud victims.
Where Does Jordan Belfort Invest His Money Now?
Jordan lost nearly his entire savings and assets to pay compensation to the victims of his fraudulent activity. But he has recovered from the losses and is making a fortune by pursuing other opportunities.
Belfort has also invested in several startups, cryptocurrencies, and NFTs. Bitcoin and Ethereum are his cryptos of choice. Earlier he had mocked cryptos and even shot a video highlighting the dangers of Bitcoin. But he quickly realized their worth and now believes in their potential.
The startups he has invested in include OneTo11 and Squirrel Technologies. The former is a blockchain gaming platform while the latter is an NFT startup. OneTo11 has been extremely successful and continually expanding its user base.
He has also created his own sales and persuasion program called Straight Line Persuasion inspired by his straight line selling. This online program helps people master the art of sales, persuasion, influence, and negotiation.
Besides these, Jordan is a much sought-after motivational speaker. He conducts virtual and live events regularly that earn him handsome sums of money. It is said that he charges anywhere between $30,000-$70,000 for his speaking engagements.
As per the Court’s orders, a part of his income has to be set aside to pay for the restitution amount.
Early Life Of Jordan Belfort
Born to accountant parents, Jordan Belfort grew up in Queen, New York, and attended Bay Ridge High School. His knack for entrepreneurship since childhood, helped him make $20,000 by selling Italian ice cream with his friend Elliot Loewenstern.
He graduated from American University with a graduate degree in Biology. From here on, Jordan’s plan was to enrol in a dental college and become a dentist. But life had other plans.
Stockbroker Jordan Belfort enrolled in the University of Maryland School of Dentistry but never graduated. That’s because the college dean in their speech said that dentistry was not a high-paying profession as it used to be. Jordan took this to heart and quit college.
Having quit college, Jordan found other ways of earning money. He became a door-to-door salesman selling meat and seafood on Long Island. He tasted success here and started his own business. However, this success was short-lived and the business tanked. Jordan was forced to file for bankruptcy at the age of 25.
It was after this that Jordan secured a job as a trainee stockbroker at L.F Rothschild in New York. He performed well at the company and soon climbed the corporate ladder. This was his initial introduction to the world of stockbroking.
Unfortunately, the stock market came crashing down at this time in what is known as the Black Monday stock market crash. This sudden and unexpected crash saw the biggest one-day percentage drop in stock market history.
Due to the far-reaching effect of the crash, the “Wolf of Wall Street” was laid off from the firm. This was the background to him starting his own firm Stratton Oakmont as a franchise of Stratton Securities.
Conclusion:
Jordan Belfort’s life has been a series of ups and downs. At his best times, he was swimming in riches. Then came the downfall when he was imprisoned for illegal activities.
His professional career and personal life definitely had all the ingredients for a blockbuster. No wonder Martin Scorsese chose his memoirs as the subject of his movie that we all enjoyed to bits!
FAQ
1. How much money was Jordan Belfort in debt?
Jordan Belfort was convicted of defrauding investors of more than $200 million and money laundering. He was sentenced to 4 years imprisonment and ordered to pay US$110.4 million in restitution and other penalties.
Out of this amount, he still owes around $97 million as of 2018. That is the reason some sources put his estimated net worth at -$100 million.
2. Is Stratton Oakmont still open?
Jordan Belfort and Danny Porush founded Stratton Oakmont as a brokerage house in 1989. The company sold penny stocks to amateur investors and even launched several IPOs.
It was soon discovered that the firm was involved in stock manipulation and defrauding investors. Due to this, the National Association of Securities Dealers (NASD) pursued legal action against the firm and its associates for securities fraud. This led the firm to shut down in 1996.
3. How many houses does Jordan Belfort Own?
At the peak of his scamming career, Jordan Belfort owned 12 properties. These include a penthouse in Manhattan, a beach house in Hermosa Beach, an estate in Glen Head, and a luxury mansion in New York.
He was also the former owner of the 5-acre Long Island mansion that also featured in the movie- The Wolf of Wall Street. This was recently listed for sale at $10 million.
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