Who is Jordan Belfort/Biography
Jordan Belfort is an American motivational speaker, author, and former stockbroker. He pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam in 1999. In 2007 he published the memoir The Wolf of Wall Street which was also adapted into a film and released in 2013.
Jordan Belfort Age
He was born Jordan Ross Belfort in Queens, New York City on July 9, 1962. He is 56 years.
Jordan Belfort Spouse(s)
He married Denise Lombardo in 1985 and later divorced in 1991. After divorcing Denise he married Nadine Caridi in 1991 and together they were blessed with two children. After 14 years in their marriage, he divorced and separated with Nadine in 2005. Currently, he is in a relationship with Anne Koppe.
Jordan Belfort Early life and education
He was born to a Jewish family in 1962 in the Bronx. He was raised up in Bayside Queens. During his high school and college days, he earned $20,000 selling Italian ie from styrofoam coolers to people at a local beach together with his close childhood friend Elliot Loewenstern.
He earned a degree in biology from the American University. He had planned to use the money he earned with Loewenstern to pay for his dental school and got enrolled at the University of Maryland School of Dentistry. However, he left on the very first day he enrolled at the college after the dean of the school told him “The golden age of dentistry is over if you are here simply because you’re looking forward to making a lot of money, you’re in the wrong place. ”
Jordan Belfort Stock trading career
His Early ventures
On Long Island, he became a door-door meat and seafood salesman. During interviews and in his memoir he claims that the business was a success and grew his meat-selling business and sold 2,300 kilograms (5,000 lb) of fish and beef in a week and also employed several workers.
At the age of 25, he filed for bankruptcy after his business failed. He says a family friend helped him get a trainee job at L.F. Rothchild. After the Black Monday stock market crash of 1987, he was laid off after the firm experienced financial difficulties.
He founded Stratton Oakmont as a franchise of Stratton securities and later bought out the original founder. He operated Stratton Oakmont as a boiler room that marketed penny stocks and defrauded investors with the ‘pump and dump’ type of stock sales.
He developed a lifestyle that consisted of lavish parties and use of recreational drugs during his years at Stratton Oakmont. At one point the company had over 1,000 employees(stockbrokers) and was involved in stock issues totaling more than US$1 billion. They were behind the initial public offering for Steve Madden Ltd. a footwear company.
From 1989 onward Stratton Oakmont was under constant scrutiny from the National Association of Securities Dealers (now the Financial Industry Regulatory Authority). The NASD expelled Stratton Oakmont, putting it out of business in December 1996. In 1999, he was accused of securities fraud and money laundering.
His Jail time
He was sentenced to a four-year jail term but served 22 months at the Taft Correctional Institution in Taft, California, in exchange for a plea deal with the Federal Bureau of Investigation for the pump-and-dump scams which he ran that led to investor losses of approximately $200 million. While he served his sentence he shared a cell room with Tommy Chong, and Chong encouraged him to write about his experience as a stockbroker.
He was ordered to pay back $110.4 million that he had swindled from stock buyers.
Jordan Belfort Book
He has written The Wolf of Wall Street and Catching the Wolf of Wall Street. The two memoirs have been published in approximately 40 countries and translated into 18 languages. In 2013, a movie based on his books opened where Leonardo DiCaprio starred as Belfort. Terence Winter wrote the film and was directed by Martin Scorsese.
He received a $500,000 advance from Random House, and before its release, a bidding war began for the book’s film rights.
He has given several motivational speeches that include a live seminar tour in Australia entitled “The Truth Behind His Success”. He first began speaking largely on motivation and ethics ten moved his focus to sales skills and entrepreneurship.
His engagement speaking fee is about $30,000- $75,000 and his per sales seminar fee can be $80,000 or more. In his seminars, he talks more about “Straight Line System”, a system of sales advice.
Belfort Jordan Net worth
He has an estimated net worth of $100 million.