After the release of notorious The Wolf of Wall Street, Jordan Belfort has become that name which no longer needs an introduction. All the sales guys, who are walking around without a hint of their destinations, want to be like him. All the motivational speakers are trying to imitate his charm.
All the startups are displaying the videos of his speeches to make their sales team come alive. Behind the success lies the tale of a man who did not fear to do it, a man who took failure as a way to success and a man who would look like a fool if that helped him achieve something. Jordan Belfort was not afraid to expose to the world his life story which many would consider as scandalous.
It was in 1999, Jordan had pleaded guilty of committing fraud. He was imprisoned for 22 months which would have paved the ending for any other person. However, for Jordan, the imprisonment paved the way for another life. His memoir The Wolf of Wall Street had been transformed into a Hollywood movie with Leonardo DiCaprio playing Jordan Belfort and the world watched in awe what simple motivation can do to a person. Keeping the scamming part aside, The Wolf of Wall Street shows when someone sets out to do it, they usually end up doing it.
He was born on 1962, 9th July in New York City. Both of his parents were accountants. Jordan had a natural talent for sales even from the early years of his life. Though he spent his childhood in a modest apartment in New York, his dreams remain big. Using his talent for sales, he decided to launch his own business which suited his aggressive nature. However, his seafood and meat selling business did not go a long way. He had to wrap it up soon enough.
In the year 1987, Jordan decided to work with a brokerage company where he got the chance to learn the pros and cons of a broker’s life. With time his skill as a stock broker got sharp enough that a couple of years later he again launched his own company which was called Stratton Oakman. This trading company dealt in penny stock broking.
Using the infamous pump and dump strategy, Jordan and his team of brokers kept pushing until their clients ‘either buy or die’. With cash flowing free, Jordan got a taste of luxury. His lifestyle changed in a matter of months. He began sending on luxurious things including mansions and fancy sports cars.
With the standard of living taking a sudden hike, it did not take long for Jordon to develop some hazardous habits. He got drawn to drugs, and his addiction became a serious problem in his personal life. Because of his addiction, Belfort go involved with more than one accident. He crashed his chopper in his yard. He sank his yacht too. Both the incidents took place when he was under the influence of drugs.
The drug addiction played havoc in his personal life. Being unable to take the addictive behavior his second wife finally called it quits.
Jordan Belfort being an aggressive leader, encouraged extreme behavior in his employees as well. The Wolf of Wall Street had captured the moments of drug abuse and hooking around the office premise of Stratton Oakman. However, the surprising fact is, the movie just succeeded in capturing the half of it. According to Jordan Belfort, his life had been worse than what it had been shown in the movie.
Education: Jordan Belfort went to American University and acquired the degree in biology.
‘It’s easier to get rich quick when you don’t follow the rules.’
Easy schemes often blow off at the face. Jordan Belfort too was not immune to this rule. Soon law came sniffing around as the US Securities and Exchange Commission put an end to the stock operation of Stratton Oakman. The decision put Belfort out of business, and his company faced a lifetime ban for defrauding people.
However, the woes did not stop there. Jordan had to plead guilty to money laundering and security fraud. He was imprisoned for four years in 2003 along with a $110 million fine. Inside the cell, he found his calling. He discovered his love for writing. He wrote passionately about his experience outside the prison, and the Wolf came to life. He got away with 22 months prison time.
Net Worth of Jordan Belfort
The motivational speaker and sales trainer have an estimated net worth of negative -$97 million. Recently in May 2018, A federal judge in New York City says she wants to make sure real-life “Wolf of Wall Street” Jordan Belfort continues to pay back the $97 million he owes in restitution. Belfort has so far paid off about $13 million of an owed $110 million in restitution.
Currently, Jordan Belfort lives in Los Angeles and runs his own company which offers sales training. He claimed that the wolf inside had tamed down.