How much is Jordan Belfort worth?
|Net Worth:||$2 Million|
|Date of Birth:||July 9, 1962|
|Country:||United States of America|
About Jordan Belfort
Jordan Belfort is a former stock broker and current motivational speaker who was famously convicted for fraud and money laundering after a major FBI investigation was conducted on him and his brokerage house, Stratton Oakmont. Though his name is recognizable, people often think of Leonardo DiCaprio when Belfort’s name is mentioned as DiCaprio famously played Jordan Belfort in the hit Scorsese movie “The Wolf of Wall Street”.
As of 2020, we estimate Jordan Belfort has a net worth of $2 million dollars. Yet he also has a restitution debt of $100 million still owed to the American government.
How did Jordan Belfort get so rich?
Jordan Belfort made his millions be scamming his company’s investors. He would pump and dump the stock market, as his brokers would inflate stock prices, then he would sell his shares when the stock price was high. Another way he would scam people is by cold calling them and pitching a good quality blue chip stock like IBM or Intel, something that may return a small profit. Then once he won their trust he would sell them shares in a penny stock company with high pressure sales tactics and claims of big profits if they act immedietly. Not only were the companies often terrible losers, he would charge a 50% commission for the sale of the stock as well. This made it virtually impossible for his clients to make money from the trade, essentially guaranteeing a loss.
Belfort used these tactics as well as others, like insider-trading, to build his firm into the hundreds of employees and earning hundreds of millions along the way. Through his scams he lived a luxury lifestyle with a net worth of about $200 million in the 1990s.
Though all of that was taken away from him when he was charged with securities fraud and money laundering and sentenced to two years in prison. Belfort still gained a moderate amount of success and wealth after being released from jail, yet would never reach the heights he achieved in the 1990s through his fraud. The autobiography detailing his escapades with drugs and women in the ten years he made so much money became a New York Times Bestseller. Though the book only gives surface level details and rarely goes in to what happened between him, his company and the FBI, instead it just indulges in wild fairy-tales of sex on planes, yachts, and cars, and how much of it is true is impossible to know.
Not only did Belfort sell the rights to his book, but movie studios entered an outright bidding war and fought for the rights. Leonardo DiCaprio and Warner Bros eventually won against Brad Pitt and Paramount Pictures. Belfort sold the rights for over $1 million, but he also earned a $250,000 bonus when the movie was shot and released into theaters. Besides the movie, The Wolf of Wall Street was also adapted into an immersive experience in London, though it is unclear how much money Belfort is earning from this. Though he wasn’t earning the hundreds of millions like he had in the past, he was certainly seeing a second phase of success.
Why is he so famous?
Jordan Belfort become well known around New York and among business socialites for the success he was making on Wall Street. That success was stealing his clients’ money, but at the time nobody knew that, and everybody in New York wanted to work for him. He became infamous for making so much money, buying audacious cars and houses, but also allegedly sleeping with dozens, maybe hundreds of prostitutes, and taking different types of drugs every night, as he explains in an almost self-congratulating way in his book, The Wolf of Wall Street.
Jordan Belfort had his time in the papers and on the news and eventually got sentenced, but it wasn’t until Martin Scorsese’s lauded biopic, The Wolf of Wall Street, the movie adaptation of Belfort’s book, that drastically increased his popularity and threw him back in to the limelight. The Wolf of Wall Street is based on Belfort’s autobiography of the same name. In the movie Belfort was played by Leonardo DiCaprio who turned the stock broker in to a certified pop-culture icon. Belfort even has a cameo at the end of the movie where he introduces the on screen Jordan Belfort to the audience during his first motivational speech after his time in jail.
After the release of the movie, it became the most popular Martin Scorsese movie in history and it saw the highest box-office intake of any of his films too, grossing $392 million, meaning the mainstream movie audience learnt about who Jordan Belfort is. Though DiCaprio doesn’t look at all like Belfort, he dived into Belfort’s personality and actions and gave an Oscar nominated performance, and one that critics and audiences loved.
The Wolf of Wall Street isn’t the only book written by Belfort. A sequel of sorts, Catching The Wolf of Wall Street details his accounts after his arrest, which leads to the possibility of a movie sequel. However, that may be unlikely considering neither Scorsese of DiCaprio have ever showed any interest in returning to this toxic world. Nine years after that book, Belfort wrote another one, The Way of the Wolf, in 2018, which is more of a guide on how to become successful and he uses his own experiences as examples, rather than detailing any fever dream phases of his life. Neither of the follow-ups to the first autobiography have been as successful as the original.
What makes him so successful?
Jordan Belfort, more than anything, knows when to strike. He is opportunistic as he noticed an easy way to the top by tricking people and making a fortune. Even after his stint in jail, Belfort capitalized on his sensational, almost fantasy like past when he wrote The Wolf of Wall Street, and he knew how to play two competing movie companies against each other.
More than anything, it goes without saying that Belfort became as successful as he is by lying. The movie rights probably wouldn’t even have been bought if the book didn’t reportedly exaggerate the sensationalism as much as it did. But now more than ever there are fans of Belfort who want his jet-set lifestyle that completely misunderstood the movie and didn’t understand what the consequences of actions like Belfort’s bear.
We calculate Jordan Belfort is worth $2 million dollars in 2020 with a restitution debt of $100 million still to pay.
During his sentencing, Jordan Belfort was ordered to pay $110 million in restitution, the terms of which force him to pay half of what he earns against the debit. Leaving him now with a net worth of just $2 million dollars. Still, a successful autobiography, a movie adaptation in which DiCaprio plays you, and a solid job as a motivational speaker with two million in the bank isn’t bad going for a former money laundering fraudster.
Though, Belfort mustn’t be enjoying the life of middle class as he is currently attempting to sue the producers of The Wolf of Wall Street for a ridiculous sum of $300 million. The co-founder of the production company Red Granite, Riza Aziz, was ironically arrested for money laundering in 2019. Belfort is suing the company because he claims he would never have sold the rights to the movie if he knew where the money was coming from. Red Granite’s lawyer called Belfort’s actions “desperate.”