So, what is Jordan Belfort net worth today? Since a large portion of his money has been taken to pay reparations to his victims, an exact sum is difficult to ascertain. However, some estimates place his net worth at around $100 million.
Notably, a significant portion of Belfort’s current income comes from his speaking engagements in front of groups of people, where he may make up to $30,000 per appearance. In addition, he has published several other volumes, including the follow-up to his first memoir.
Who is Jordan Belfort?
Jordan Belfort, also known as the Wolf of Wall Street, became a household name after the release of Martin Scorsese’s movie by the same name. Many find his story of lavish wealth, criminal behavior, and ultimate ruin compelling.
Jordan Belfort was born in Queens, New York, in 1962. Due to his difficult upbringing, he left college after just one semester. In 1987, he started working as a stockbroker for the financial institution L.F. Rothschild.
Belfort immediately established a reputation for himself, becoming well-known for his aggressive sales techniques and opulent way of life.
Belfort established Stratton Oakmont, his own investment company, in 1989. The company specializes in penny stocks, which are very risky investments because of their high level of speculation. Belfort and his group cheated the system to manipulate the stock market and generate millions of dollars quickly.
The Stratton Oakmont Scandal
Under Belfort’s direction, Stratton Oakmont rose to prominence as one of Wall Street’s most successful brokerage firms, thanks in part to a culture of high-pressure sales tactics and aggressive marketing.
However, the firm’s success was built on a foundation of fraud and deception, with Belfort and his associates using a variety of illegal methods to inflate the value of penny stocks and defraud investors.
Belfort and his brokers would buy cheap, low-volume equities and then artificially increase their value by recommending them to unwary buyers. It was a straightforward but successful scheme. Brokers would sell their shares as the stock price increased, leaving investors with worthless equities and empty wallets.
Belfort and Stratton Oakmont were ultimately implicated in the fraud, which sparked a number of inquiries and legal actions. Belfort was given a four-year prison term after admitting guilt to securities fraud and money laundering in 1999. He also had to repay his victims $110.4 million in reparation.
Belfort published a memoir after being released from prison, and it was later turned into the 2013 film The Wolf of Wall Street.
Notwithstanding his criminal record, Belfort has maintained a lucrative speaking and book-selling career. He has apparently made an effort to repay some of his victims, however, it is unknown how far he has come in this area.
Conclusion
The story of Jordan Belfort serves as a warning about the perils of greed and the repercussions of unlawful activity. While his net worth may have once been in the billions of dollars, a significant portion of that money has been taken to compensate his victims. Nonetheless, Belfort still makes money from his book sales and appearances in public.
FAQs About Jordan Belfort Net Worth
Q. What was Jordan Belfort’s peak net worth?
Ans: Jordan Belfort’s net worth at his peak was estimated to be over $200 million.
Q. What illegal activities was Jordan Belfort involved in?
Ans: Jordan Belfort was involved in securities fraud and money laundering.
Q. How long was Jordan Belfort sentenced to prison?
Ans: Jordan Belfort was sentenced to four years in prison, but only served 22 months.
Q. How does Jordan Belfort make money today?
Ans: Jordan Belfort makes money through his public speaking engagements and book sales.
Q. Has Jordan Belfort paid back his restitution to his victims?
Ans: As of now, Jordan Belfort has paid less than 20% of the restitution amount ordered by the court, which is over $110 million.
Q. What is the “Pump and Dump” cryptocurrency?
Ans: The “Pump and Dump” cryptocurrency is a cryptocurrency that was allegedly promoted by Jordan Belfort. It was named after the illegal financial scheme that Belfort and his associates used to defraud investors.