Jordan Belfort Net Worth: in debt
Quick facts about Jordan Belfort
Date of birth: July 9, 1962
Place of birth: The Bronx, New York City, U.S.
Occupation: author, entrepreneur, motivational speaker
Unlike many other celebrities covered here, the question how rich is Jordan Belfort is not that easy to answer, because when it comes to this man it’s simply not that straightforward. There is a lot of lessons in his story, lessons that tell you both – what you should and shouldn’t do. So the short answer to the question is that Jordan Belfort is currently deeply in debt, BUT this wasn’t always the case, nor it will necessary continue for very long. As you will see in a moment, this man is very unusual.
Since his young age Jordan demonstrated natural talent of a great salesman. Right after completing high school he and his friend made $20,000 selling Italian ice at a local beach. He was only in his early twenties when he successfully ran meat and seafood business and yes, he did it all while working on his degree in biology, which he eventually got.
After his meat and seafood business collapsed Jordan began trading stocks and only two years later he already had his own investment operation – infamous Stratton Oakmont. To put things in perspective, Jordan ran Stratton Oakmont by the age of 27, which means that Italian ice, meat and seafood business and biology degree were all accomplished before his 25th birthday. How does that compare to the vast majority of people you know?
Unfortunately, Jordan got carried away while running Stratton Oakmont and, according to various sources, he made millions by defrauding his very own investors. To make things worse, during that period he was known for his extravagant lifestyle, spending enormous amount of money for toys and pleasures. Belfort was eventually convicted for securities fraud and money laundering and was ordered to serve 4 years in prison with $110 million in restitution. The good news is that he was released only after 22 months, the bad news is that he paid only about $11 million and still has a long way to go.
As weird as it sounds, these days Belfort is a popular author and motivation speaker who earns $30,000 per speech, which is probably more than most of you reading this earn in a month or even several months. In May 2014, at a Dubai event, he told the audience, “I’ll make this year more than I ever made in my best year as a broker.” That would be quite interesting to see and, if he keeps his promise, will make for another good story. Quite inspirational, indeed.
Photo credit: Ralph Zuranski
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