Jordan Belfort Net Worth (Money & Salary)

What is Jordan Belfort’s Net Worth

Jordan Belfort, an American author, convicted felon, and former stockbroker, possesses a net worth of negative $100 million. While often dubbed “the wolf of Wall Street,” it’s worth noting, as detailed further below, that during his tenure in finance, no one on Wall Street referred to him by that name. He coined the nickname himself while penning his memoir from behind bars.

From 1989 to 1996, Jordan operated the financial firm Stratton Oakmont, which was notorious for executing pump-and-dump schemes that conned hundreds of millions of dollars from numerous unsuspecting victims. In 1999, Belfort alongside co-founder Danny Porush was indicted on charges of securities fraud and money laundering, both of whom pleaded guilty. Their prison sentences were lightened in return for their cooperation with law enforcement.

As is well known, the 2013 cinematic portrayal of Jordan’s life in “The Wolf of Wall Street,” featuring Leonardo DiCaprio and directed by Martin Scorsese, was a loose interpretation. One could argue that the filmmakers engaged in ethical malpractice by glorifying Jordan Belfort, failing to present adequately the profound damage inflicted by him and Stratton Oakmont on their victims—many of whom were ordinary individuals who could ill afford such losses. In an inexplicable turn of events, Jordan was given a cameo appearance near the film’s conclusion, thereby enhancing his notoriety and paving the way for a career as a motivational speaker. Conversely, the 2000 film “Boiler Room,” which also drew inspiration from Belfort and Stratton Oakmont, presented a more realistic depiction of the repercussions faced by the victims of financial pump-and-dump scams.

Restitution

Throughout Jordan’s fraudulent exploits, he embezzled approximately $200 million from 1,513 victims. At his 2003 sentencing, the court mandated that he pay $110 million in restitution. Additionally, he was sentenced to four years in prison; this term was significantly reduced due to his role as an FBI informant, where he recorded conversations to incriminate several former partners and associates. Ultimately, he served 22 months and was released in April 2008.

Per the original restitution agreement, Jordan was obligated to remit 50% of his gross income to the 1,513 victims. However, from 2007 to 2009, his restitution payments totaled just $700,000, and by 2010, he paid nothing.

In 2011, he sold the film rights to his two memoirs to Red Granite Pictures for $1.045 million, receiving an upfront payment of $940,500, with an additional $250,000 expected in 2012. According to his restitution obligations, he should have disbursed approximately $500,000 to his victims that year, but in actuality, only $21,000 was paid. In 2012, the U.S. government urged Red Granite to directly remit $125,000 (half of his $250k payment) to them, resulting in a total payment of $158,000 for that year.

In 2013, the U.S. government agreed to modify his restitution plan, changing the repayment structure from 50% of gross earnings to a minimum of $10,000 monthly for his lifetime.

To date, Jordan has managed to repay approximately $13-14 million in restitution, mostly stemming from a property sale worth $11 million that he forfeited at sentencing. Consequently, he still owes his victims close to $100 million.

In 2018, prosecutors summoned Jordan back to court regarding around $9 million accrued from speaking engagements between 2013 and 2015, alleging that he did not allocate any of those earnings toward restitution.

Origin of the “Wolf of Wall Street” Nickname

The 203 film draws inspiration from Jordan’s 2007 memoir, sharing its title “The Wolf of Wall Street.” Given the book and movie titles, along with Jordan’s frequent references to that nickname in various interviews and articles, one might infer that during his time in finance, he was widely known as “the wolf of Wall Street.” This notion is utterly FALSE. In truth, Jordan Belfort was never known as “the Wolf of Wall Street” while engaged in his financial schemes.

But how did this nickname arise? Jordan actually coined the nickname himself while composing his memoir from prison. It has been suggested that his cellmate, Cheech and Chong actor Tommy Chong, motivated him to pen the memoir.

In the film, funded with money stolen by fugitive Jho Low from the Malaysian government, the “wolf of Wall Street” nickname is depicted as being conferred by a Forbes writer in a cover story from 1991. This claim is incorrect. The original Forbes article was titled “Steaks, Stocks – What’s the Difference?,” referring to Jordan’s previous experience selling steaks and seafood door-to-door on Long Island prior to becoming a stockbroker. Furthermore, the article referred to Jordan as a “twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.” It also described his business model as “pushing dicey stocks on gullible investors.” At no point did the article mention him as a “wolf.”

Background and Upbringing

Born in The Bronx, New York, on July 9, 1962, Jordan Ross Belfort was raised in a Jewish household in Bayside, Queens. Along with a close friend, he earned $20,000 during the summer between high school and college by selling Italian ice from coolers to beachgoers. He completed his education at American University with a degree in biology and then enrolled in dental school at the University of Maryland. However, he left after

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

Career

On Long Island, New York, Belfort ventured into door-to-door sales, specializing in meat and seafood. This single-person operation evolved into a thriving business that employed several individuals, selling 5,000 pounds of beef and fish weekly. At the age of 25, he encountered financial difficulties and filed for bankruptcy, subsequently securing a position as a stockbroker trainee at L.F. Rothschild. Allegedly, the advice from his initial employer was that the keys to success included masturbation, cocaine, and hookers. After the 1987 Black Monday stock market crash, he was laid off from this company. Nevertheless, he became captivated by the prospect of earning the hefty sums that senior stockbrokers made. Throughout the late 1980s, Belfort gained experience at various financial firms, absorbing as much knowledge as possible. In 1989, he refined his sales tactics and chose to establish his own firm.

In the early 1990s, Belfort launched Stratton Oakmont. The firm specialized in the marketing of penny stocks within a boiler room environment. Through a pump-and-dump scheme, he deceived investors. At the peak of Stratton Oakmont’s prosperity, Belfort had over 1,000 stockbrokers on payroll and managed over $1 billion in assets. However, the National Association of Securities Dealers began investigating Belfort and his firm closely. In December 1996, the association expelled Stratton Oakmont from its membership, leading to the firm’s closure.

Reports indicate that Belfort laundered his funds in Swiss banks, assisted by his mother-in-law and his wife’s aunt in smuggling the money to Switzerland. Allegedly, while at the helm of Stratton Oakmont, he hosted extravagant parties that included midget-tossing contests.

Motivational Speaking Career

Following his release from prison, Belfort redefined his career as a motivational speaker, founding a business named Global Motivation, Inc. He dedicates around three weeks each month traveling to give speeches about the significance of ethics in business and learning from past mistakes. During the 1990s, for example, he believed that breaking the rules set by financial regulators was justifiable because so many others were doing it. Engaging in a speaking engagement with Belfort will set you back $30,000 to $75,000, and booking a sales seminar featuring him can cost upwards of $80,000. Unfortunately, his speeches haven’t received the best reviews, with many viewers criticizing his anecdotes of disregarding financial regulations from his past.

Writing Career

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

Personal Life

Throughout his time at Stratton, Belfort indulged in a lifestyle characterized by excess.and hosted parties regularly. He also indulged in recreational drugs, most notably methaqualone, also known as quaaludes. Bo Dietl, his former head of security, mentioned in an interview that during his time working for Belfort, he had never seen him sober, and additionally revealed that Belfort had significant connections to the Mob.

During his tenure at Stratton Oakmont, Belfort divorced his first wife, Denise Lombardo, with whom he was married from 1985 to 1991. He subsequently married model Nadine Caridi, originally from Britain, in 1991 after they met at a party. Together they had two children—Chandler and Carter. Following accusations of domestic violence (likely fueled by drugs), they separated and finalized their divorce in 2005. In 2008, Belfort entered into marriage with Anne Koppe, but they parted ways in 2020. In 2021, he began dating Cristina Invernizzi.

During his time in prison, Tommy Chong was his cellmate and encouraged Belfort to write “The Wolf of Wall Street.”

Belfort purchased the luxurious yacht Nadine, which was constructed in 1961 for the renowned designer Coco Chanel. He named the yacht after his second wife. In June 1996, the vessel sank off the coast of Sardinia, but all those on board were rescued by the Italian Navy’s Special Forces. Belfort later confessed that he had insisted on navigating the yacht in high winds, contrary to the captain’s advice.

Long Island Mansion

In October 1992, Jordan acquired a mansion in Old Brookville, New York, for $5.775 million, spanning 9,000 square feet on two acres. In 2001, the federal government confiscated this property and subsequently sold it to reimburse some of Belfort’s victims of fraud. The home was sold by the government in March 2001 for $2.53 million. It returned to the market in 2015 with a price tag of $4.75 million. By August 2018, the asking price dropped to $2.89 million, and it ultimately sold for $2.4 million in October 2018.