Renowned as a co-founder of Stratton Oakmont, Jordan Belfort’s net worth story is the type you would rather choose not to imitate. This is because how he acquired his wealth was so dubious that it eventually landed him in jail and brought him to an estimated negative $100 million worth.
Nonetheless, there are still several take-home lessons from Jordan Belfort’s wealth story. He was highly dedicated to his “illegal” cause, acquired only the needed knowledge, and was focused on getting the big bag right from a young age.
Jordan Belfort earned many titles in different facets of his life. He was a successful stockbroker, CEO, author, film producer, and even a convicted felon. Such an interesting personality! Even Leonardo DiCaprio portrayed him in a classic movie, “The Wolf of Wall Street,” showing how intriguing his character and lifestyle are.
Without further ado, let’s check out Jordan Belfort’s Net worth, early life, how he went from zero to hero and back to square one, and his current job after serving a jail term.
Who is Jordan Belfort?
Jordan Ross Belfort’s (@wolfofwallst) journey began in the Bronx, New York, on July 9, 1962. The infamous millionaire was raised by a Jewish family on American soil, with both his parents working as accountants. Due to his family’s humble financial status, he learned the importance and value of money.
Belfort attended Bayside High School and American University, where he earned a degree in biology. But never mistake him for a very seriously committed student because, right from his early days, Belfort always placed money above education.
For instance, Jordan Belfort once gained admission into a dental school in Maryland, but he exited the institution after his first class! This was merely because a faculty member told the class that those who are looking to make huge money from dentistry are wasting their time.
Since he left school, he became determined to make money at all costs – maybe too determined in the end, if you ask me. Belfort started out as a door-to-door meat and seafood seller on Long Island, New York. The venture failed in the long run, forcing him to file for bankruptcy at age 25.
This setback didn’t divert Jordan Belfort’s gaze from wealth-making; however, he secured a job as a stockbroker at L.F Rothschild. He was fired after the popular 1987 Black Monday stock crash. However, Belfort continued to enroll in and work for multiple financial firms, garnering the experience he needed to pull the massive stunt he pulled!
What is Jordan Belfort’s Net Worth in 2024?
Due to his scandalous actions for most of the early 2000s and his sentence to jail, Jordan Belfort’s net worth has always been written with a negative sign. However, the American ex-convict is slowly finding his feet financially, thanks to his most recent oratorical career. He delivers speeches about marketing, his life story, and other financial tips at events and conventions in multiple locations. For his services, Jordan Belfort receives thousands of dollars per event.
Nonetheless, according to numerous legal wealth ranking sites, Jordan Belfort’s net worth is about -$100 million. The majority of his infamous net worth came from his dubious activities with Stratton Oakmont, a firm he co-founded. This firm orchestrated pump-and-dump schemes that defrauded hundreds of millions of innocent investors worldwide.
Jordan Belfort and others in Stratton Oakmont acquired massive net values before meeting the wrathful face of the law in 1999. The “boiler room” crew, Belfort, Danny Roush, and several others, were sentenced to lengthy jail terms for their fraudulent crimes at the firm. However, Belfort was able to shorten his sentence to 22 months due to his cooperation with the authorities in capturing the other criminals.
Stratton Oakmont’s Scandals
In 1989, Jordan Belfort and Danny Roush established Stratton Oakmont in a bid to pursue their stockbroking careers. Belfort employed aggressive sales tactics and convinced investors to sell penny stocks, which were low-priced and high-risk securities. Little did the investors know that the brokerage firm in Long Island, New York had a hidden agenda that would cost them millions of dollars.
Stratton Oakmont and Belfort would spread positive information about penny stocks to potential investors, thereby inflating prices. Once the stock prices were pumped up, Belfort and his team would sell their holdings. This will result in a massive drop in the value of the stocks, making investors lose their money, and fetching the conspirators substantial profits.
These fraudulent activities victimized about 1,513 investors, involving a total of about $200 million in capital funds. However, the SEC and other US financial security agencies arrested the culprits, sentencing Belfort to four years in prison. His cooperation with the prosecutors in finding and arresting several associates led to his early release in April 2008.
How Does Jordan Belfort Make Money After His Release?
Seemingly, Jordan Belfort began to put his skills and expertise in stockbroking to better use after his 22-month stint in jail. Presently, Belfort is now a motivational speaker and an author and has investments in real estate, gaming startups, cryptos, and NFTs. The American orator earns over $30,000 for every speaking engagement.
Jordan Belfort invested in OneTo11, a gaming platform that uses Blockchain tech to ensure secure and transparent transactions. Altogether, his Aventus Ventures portfolio of startup investments is valued at about $100 million. The ex-con also has an eye for crypto trading, having several Bitcoin and Ethereum assets to his name.
Belfort’s post-prison ventures extend to real estate as well. The American investor owns valuable properties in Manhattan Beach and Hermosa Beach, California. These properties, like most real estate deals around the world, have a very high potential of increasing in value over the years.
Eventually, his involvement in legitimate ventures like the aforementioned ones may just return the Wolf of Wall Street to being among the world’s richest dudes. But for now, Jordan Belfort’s net worth remains at negative $100 million—probably until he pays off his legal sanction of $10,000 per year.
But be careful with Belfort’s investment advice! Although his cameo after prison looks more legitimate every day, we mustn’t forget that his track record shows that he can turn to his old ways at any given chance. So, before taking his investment advice hook, line, and sinker, do your own research and stake wisely.
How Did Jordan Belfort Become The Wolf of Wall Street?
As opposed to the popular assumption that Jordan Belfort got the nickname during his financial career, he actually gave himself the name in prison. Jordan was convinced by his cellmate to write a story about himself and his career. In one of his memoirs, he named himself the Wolf of Wall Street – a title that Martin Scorsese deemed fit to describe Jordan Belfort’s exploits in the financial world.
