Jordan Belfort Net Worth (Money & Salary)

Jordan Belfort’s Net Worth

With a net worth estimated at negative $100 million, Jordan Belfort is known as an American ex-stockbroker, convicted felon, and author. Commonly dubbed “the wolf of Wall Street,” it’s important to note, as discussed in further detail below, that during his financial career, he was never referred to by this nickname on Wall Street. He in fact coined it himself while penning his memoir while incarcerated.

From 1989 to 1996, Jordan managed the financial firm known as Stratton Oakmont. This firm conducted pump-and-dump schemes that resulted in the deception of hundreds of millions of dollars from countless innocent individuals. In 1999, both Belfort and his business partner Danny Porush faced indictment for securities fraud and money laundering, to which they pleaded guilty. Their sentences were lessened as a result of their cooperation with the authorities.

The 2013 film “The Wolf of Wall Street,” featuring Leonardo DiCaprio and directed by Martin Scorsese, portrays a highly dramatized version of Jordan’s life. Critics argue that this film commits an ethical breach by glamorizing Belfort, failing to adequately depict the aftermath of the devastation inflicted on his victims. Many were ordinary people who were unable to shoulder the substantial losses they faced. Furthermore, for reasons that remain unclear, Belfort received a cameo appearance near the film’s conclusion, which amplified his notoriety and allowed him to pivot into a career as a motivational speaker. On the other hand, the 2000 film “Boiler Room,” which also draws inspiration from Belfort’s story, offers a more authentic representation of the harm caused to victims by such financial fraud tactics.

Restitution Obligations

Throughout Jordan’s reign of deceitful financial practices, he reportedly stole approximately $200 million from 1,513 victims. During his sentencing in 2003, the court mandated he repay $110 million as restitution and serve four years in prison, a sentence reduced due to his role as an FBI informant who wore a wire to gather evidence against several former associates. He ultimately served 22 months and was released in April 2008.

As per the original restitution agreement, he was required to pay 50% of his gross earnings to compensate his victims. However, from 2007 to 2009, he only paid $700,000 toward this obligation and made no payments in 2010.

In 2011, he sold the film rights to his two memoirs to Red Granite Pictures for $1.045 million, receiving $940,500 upfront and a further $250,000 in 2012. Based on his restitution arrangement, he should have covered around $500,000 for his victims in 2011, yet he only contributed $21,000 that year. In 2012, the U.S. government pressured Red Granite to directly pay them $125,000 (half of the 2012 payment), leading to a total payment of $158,000 from Jordan for that year.

By 2013, the U.S. government revised his restitution plan, substituting the 50% obligation with a minimum monthly payment of $10,000 for the rest of his life.

To this day, Jordan has repaid only about $13-14 million in total restitution, with the bulk of it ($11 million) coming from the sale of property surrendered at sentencing. Thus, he still owes around $100 million to his victims.

In 2018, authorities brought Jordan back to court over nearly $9 million generated from speaking fees between 2013 and 2015, claiming he did not allocate any of that income toward his restitution payments.

Origin of the “Wolf of Wall Street” Nickname

The 2013 film is shaped by Jordan’s 2007 memoir, also named “The Wolf of Wall Street.” Given the title similarities, as well as Jordan’s frequent mention by that moniker in interviews and articles, one could easily think it was a common reference during his financial career. This is absolutely FALSE. In reality, during his time in finance, Jordan Belfort was never called “the Wolf of Wall Street.”

So, where did this nickname originate? Jordan actually self-assigned it while crafting his memoir from prison. There are claims that his cellmate, actor Tommy Chong, who starred in Cheech and Chong, inspired him to document his story.

The film, financed with the funds that fugitive Jho Low misappropriated from the Malaysian government, presents the “wolf of Wall Street” nickname as one granted by Forbes in a magazine cover story from 1991. This is inaccurate. The original Forbes article was titled “Steaks, Stocks – What’s the Difference?,” referencing Jordan’s prior career selling steaks and seafood door-to-door on Long Island before becoming a stockbroker. The article later characterized 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 modus operandi as “pushing dicey stocks on gullible investors.” At no point is he referred to as a “wolf.”

Background and Early Years

Jordan Ross Belfort was born on July 9, 1962, in the Bronx, New York. He was raised in Bayside, Queens, within a Jewish household. Along with a close friend, he earned $20,000 selling Italian ice from a…

During the summer between high school and college, coolers were sold to beachgoers. Belfort completed his studies at American University, earning a degree in biology. He then began attending dental school at the University of Maryland but withdrew after just one day of classes after a faculty member remarked that dentistry wouldn’t lead to wealth.

Career

On Long Island, New York, Belfort sold meat and seafood from door to door. His initial one-man operation transformed into a bustling business that employed multiple individuals, selling 5,000 pounds of beef and fish weekly. At the age of 25, he declared bankruptcy and subsequently secured a position as a stockbroker trainee at L.F. Rothschild. Allegedly, his first manager suggested that the secret to success lay in masturbation, cocaine, and hookers. Following the 1987 Black Monday stock market crash, he was dismissed from that firm. Despite this setback, Belfort became captivated by the prospect of earning the substantial sums that senior stockbrokers did. Throughout the late 1980s, he gained experience at several financial firms, absorbing as much knowledge as possible. In 1989, he fine-tuned his sales pitch and decided to launch his own company.

In the early 1990s, Belfort established Stratton Oakmont, focusing on marketing penny stocks in a boiler room context. Utilizing a pump-and-dump scheme, he defrauded investors. At the pinnacle of its success, Stratton Oakmont employed over 1,000 stockbrokers and managed more than $1 billion. However, the National Association of Securities Dealers had begun to investigate Belfort and his firm, closely analyzing their transactions. In December 1996, the association expelled Stratton Oakmont from its membership, leading to the firm’s closure.

Reportedly, Belfort funneled his earnings into Swiss banks, with his mother-in-law and his wife’s aunt assisting in the money smuggling. While managing Stratton Oakmont, he allegedly hosted extravagant parties that featured midget-tossing contests.

Motivational Speaking Career

After serving his prison sentence, Belfort transformed into a motivational speaker and launched Global Motivation, Inc. He spends approximately three weeks per month traveling to give speeches on the significance of ethics in business and the importance of learning from past mistakes. In the 1990s, for instance, he rationalized his rule-breaking behavior, believing it was permissible since many others engaged in similar practices. Engaging Belfort for a speaking event can cost between $30,000 to $75,000, while his sales seminars start at $80,000 and can go higher. However, his presentations have not always received favorable reviews, with some audiences critiquing his anecdotes about bypassing financial regulations from the 1990s.

Writing Career

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

Personal Life

Throughout his tenure at Stratton, Belfort indulged in a luxurious lifestyle and frequently hosted parties. He was also known to partake in recreational drugs, particularly methaqualone or quaaludes. His former security chief, Bo Dietl, disclosed in an interview that he never witnessed Belfort sober during his employment, revealing Belfort’s deep connections with organized crime.

During the operation of Stratton Oakmont, Belfort divorced his first wife, Denise Lombardo, with whom he was married from 1985 to 1991. In 1991, he married British model Nadine Caridi, whom he met at a party. They had two children together — Chandler and Carter. Their separation occurred after Caridi accused him of domestic violence, attributed to his possible drug use, culminating in their divorce in 2005. Subsequently, Belfort wed Anne Koppe in 2008, but the marriage ended in divorce in 2020. By 2021, he was in a relationship with Cristina Invernizzi.

While incarcerated, Belfort shared a cell with Tommy Chong, who inspired him to write “The Wolf of Wall Street.”

Belfort formerly owned a luxury yacht named Nadine, crafted in 1961 for renowned designer Coco Chanel. He named the yacht after his second wife. Tragically, the vessel sank off Sardinia in June 1996, but all aboard were rescued by the Italian Navy’s Special Forces. Later, Belfort confessed he had insisted on sailing in rough weather despite the captain’s warnings.

Long Island Mansion

In October 1992, Belfort acquired a 9,000-square-foot mansion in Old Brookville, New York, for $5.775 million. In 2001, the federal government seized the property and sold it to compensate some of his fraud victims, with the home being sold for $2.53 million in March 2001. It was listed on the market in 2015 for $4.75 million, but by August 2018, the price dropped to $2.89 million, ultimately selling for $2.4 million in October 2018.