Jordan Belfort Net Worth (Money & Salary)

What is Jordan Belfort’s Net Worth

Jordan Belfort, an American ex-stockbroker, convicted felon, and author, possesses a net worth of negative $100 million. Often called “the wolf of Wall Street,” it is important to note that this nickname was never used by anyone on Wall Street during his time in finance, as detailed further below; he coined it himself while writing his memoir from prison.

From 1989 to 1996, Jordan operated the financial firm Stratton Oakmont, which executed pump-and-dump schemes, defrauding innocent victims of hundreds of millions of dollars. In 1999, both Belfort and his co-founder Danny Porush faced indictment for securities fraud and money laundering, eventually pleading guilty. Their sentences were lowered in return for their cooperation with prosecutors.

The 2013 film “The Wolf of Wall Street,” featuring Leonardo DiCaprio and directed by Martin Scorsese, portrays an exaggerated version of Jordan’s life. Some critics argue that the filmmakers engaged in ethical malpractice by contributing to the glorification of Jordan Belfort, failing to accurately depict the damage caused to the actual victims of their fraud. Many of these victims were individuals who simply could not afford the losses they suffered. In a rather baffling turn, Belfort made a cameo appearance towards the film’s conclusion, which subsequently enhanced his fame and enabled him to launch a motivational speaking career. Conversely, the 2000 film “Boiler Room,” which is also loosely inspired by Belfort and Stratton Oakmont, better illustrates the consequences of financial pump-and-dump fraud on victims.

Restitution

Throughout Jordan’s fraudulent operations, he misappropriated around $200 million from 1,513 victims. During his sentencing in 2003, he was mandated to repay $110 million in restitution and was sentenced to four years in prison. This term was reduced due to his role as an FBI informant, where he recorded incriminating evidence against several former partners and associates. Ultimately, he served 22 months and was released in April 2008.

Under the initial restitution agreement, he was required to remit 50% of his gross income to the 1,513 victims. Between 2007 and 2009, he contributed $700,000 towards this obligation. However, he made no payments in 2010.

In 2011, Jordan sold the rights to his two memoirs to Red Granite Pictures for $1.045 million. Of this, he received $940,500 upfront, with an additional $250,000 expected in 2012. Under the restitution conditions, he was likely obligated to pay around $500,000 to his victims in 2011; instead, he only paid $21,000. In 2012, the U.S. government persuaded Red Granite to directly pay $125,000 (half of his $250k payment) to them. His overall payment for 2012 totaled $158,000.

In 2013, the U.S. government revised his restitution terms from 50% of all gross earnings to a mandatory minimum of $10,000 per month for life.

As of now, Jordan has repaid approximately $13-14 million in restitution, with around $11 million of that amount coming from the sale of property relinquished at sentencing. Therefore, he still owes his victims about $100 million.

In 2018, prosecutors brought Jordan back to court regarding the approximately $9 million he earned in speaking fees from 2013 to 2015, claiming he did not contribute any of those earnings towards his restitution.

Coined the Nickname “Wolf of Wall Street”

The film from 203 is inspired loosely by Jordan’s memoir published in 2007, which shares the same title, “The Wolf of Wall Street.” Given the commonality of the book and movie titles, along with the continuous mention of this nickname in various interviews and articles, one might presume that Jordan was frequently known by the moniker “the wolf of Wall Street” throughout his financial endeavors. This assumption is profoundly FALSE. In reality, Jordan Belfort was not referred to as “the Wolf of Wall Street” during his tenure in finance.

So, how did this nickname originate? Interestingly, Jordan self-assigned this nickname while penning his memoir from prison. It has been suggested that his cellmate, Tommy Chong, famous as a star of Cheech and Chong, encouraged him to write his memoir.

In the movie, financed with funds illicitly obtained from Malaysia by fugitive Jho Low, the “wolf of Wall Street” nickname is depicted as having been granted by a Forbes writer in a 1991 magazine cover story. However, this is not accurate. The original Forbes article bore the title, “Steaks, Stocks – What’s the Difference?” which referenced Belfort’s previous career selling steaks and seafood door-to-door on Long Island before becoming a stock broker. Later in the piece, Jordan was described as a “twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.” The piece also characterized his business strategy as “pushing dicey stocks on gullible investors.” At no point was he referred to as a “wolf.”

Background and Early Life

On July 9, 1962, Jordan Ross Belfort entered the world in The Bronx, New York. Growing up in a Jewish household in Bayside, Queens, Belfort, along with a close friend, managed to earn $20,000 selling Italian ice from coolers to beach-goers during one summer between high school and college. Later, he achieved his degree in biology from American University and subsequently enrolled at the University of Maryland’s dental school. However, he left before completing his studies.

on the first day of classes, a faculty member remarked that becoming a dentist wasn’t a path to wealth.

Career

On Long Island, New York, Belfort sold meat and seafood directly to customers. His initial one-person business expanded into a company, employing multiple people and selling 5,000 pounds of beef and fish weekly. At the age of 25, he declared bankruptcy and secured a position as a stockbroker trainee at L.F. Rothschild. It is alleged that his initial superior informed him that the secrets to success included masturbation, cocaine, and hookers. Following the 1987 Black Monday stock market crash, he faced layoffs from this firm. Nevertheless, Belfort became enamored with the prospect of earning similar wealth as the more experienced stockbrokers. Throughout the late 1980s, he gained experience working for various financial firms, absorbing as much knowledge as possible. After perfecting his sales pitch, he made the decision to launch his own firm in 1989.

Stratton Oakmont was established by Belfort in the early 1990s. The firm specialized in marketing penny stocks within a boiler room setup. He employed a pump-and-dump scheme to defraud his investors. At the peak of Stratton Oakmont’s success, more than 1,000 stockbrokers were employed, and the firm managed over $1 billion. However, the National Association of Securities Dealers began investigating Belfort and Stratton Oakmont closely. The association took a keen interest in the firm’s transactions. Subsequently, in December 1996, the National Association of Securities Dealers expelled Stratton Oakmont from its membership, resulting in the firm’s closure.

Reportedly, Belfort laundered his funds into Swiss banks, with the assistance of his mother-in-law and his wife’s aunt, who helped smuggle the money into Switzerland. While managing Stratton Oakmont, he supposedly hosted extravagant parties that featured midget-tossing contests.

Motivational Speaking Career

Following his prison release, Belfort transformed himself into a motivational speaker. He founded a company called Global Motivation, Inc. Spending around three weeks each month traveling, he presented speeches on the significance of ethics in business and the importance of learning from past mistakes. For instance, back in the 1990s, he believed it was acceptable to break the rules set by financial regulators since many others did the same. Engaging Belfort for a speaking event will cost between $30,000 and $75,000. If you wish to hire him for a sales seminar, the cost starts at $80,000. His speeches have not consistently received favorable reviews, with many commentators criticizing his anecdotes about violating financial regulations reminiscent of his activities in the 1990s.

Writing Career

Belfort authored the memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street,” which have been published across around 40 countries and translated into 18 languages. “The Wolf of Wall Street” was adapted into a film featuring Leonardo DiCaprio, Jonah Hill, and Margot Robbie, directed by Martin Scorsese. Additionally, he released “Way of the Wolf: Become a Master Closer with Straight Line Selling” in 2017.

Personal Life

Throughout his time at Stratton, Belfort indulged in an extravagant lifestyle.

and frequently hosted parties. He also engaged in recreational drug use, particularly methaqualone, also known as quaaludes. Bo Dietl, his former head of security, mentioned in an interview that he had never witnessed Belfort sober during his time working for him, and he disclosed Belfort’s significant connections to organized crime.

During his management of Stratton Oakmont, Belfort divorced his first wife, Denise Lombardo, with whom he was married from 1985 to 1991. In 1991, he entered into marriage with British model Nadine Caridi after they met at a party. Together, they had two children, Chandler and Carter. Their separation occurred after she accused him of domestic violence, likely fueled by drug use, culminating in their divorce in 2005. In 2008, he wed Anne Koppe, but they divorced in 2020. In 2021, he began a relationship with Cristina Invernizzi.

Inside prison, Belfort shared a cell with Tommy Chong, who motivated him to write “The Wolf of Wall Street.”

Belfort purchased the luxury yacht named Nadine, originally built in 1961 for the renowned designer Coco Chanel. He renamed the yacht in honor of his second wife. The vessel sank off the coast of Sardinia in June 1996, but all individuals aboard were rescued by the Italian Navy’s Special Forces. Belfort later confessed that he had insisted on sailing the yacht in adverse weather conditions against the captain’s advice.

Long Island Mansion

In October 1992, Jordan invested $5.775 million in a 9,000-square-foot mansion situated on two acres in Old Brookeville, New York. In 2001, this mansion was seized by the federal government, which later sold it to compensate some of Belfort’s fraud victims. The home was sold by the government in March 2001 for $2.53 million. In 2015, it was listed on the market for $4.75 million, but by August 2018, the asking price was reduced to $2.89 million. Ultimately, it sold for $2.4 million in October 2018.