Jordan Belfort is an American entrepreneur, speaker, author, former stockbroker, and convicted felon.
Biography of Jordan Belfort
Jordan Belfort was born on July 9 1962 in Bronx, New York, the United States to his Jewish parents Max and Leah who were both accountants. His height is 1.7m.
Belfort is a graduate of the American University with a degree in Biology. He enrolled in the University of Maryland School of Dentistry but left after the dean of the school told him on his first day that; “the golden age of dentistry is over. If you’re here simply because you’re looking to make a lot of money, you’re in the wrong place”.
Jordan pleaded guilty to fraud and related crimes in connection with the stock market manipulation and was running the boiler room as part of a penny stock scam in 1999.
He spent 22 months in prison for this crime and was made to pay back $110.4 million, which he swindled from his stock buyers. He was released in April 2006.
Jordan got married to Denise Lambardo in 1985 and later divorced in 1991. He got married again in 1991 to Nadine Caridi, a model with whom he had two children. They later filed for a divorce in 2005 due to domestic violence and infidelity which was a result of his drug addiction.
Jordan Belfort became a door-to-door meat and seafood salesman on Long Island in New York. His business failed as he filed for bankruptcy at the age of 25.
A family friend later helped him secure a job as a trainee stockbroker at L.F Rothschild. He was later laid off after the firm experienced financial difficulties related to the Black Monday stock crash in 1987.
Belfort found Stratton Oatmont as a franchise of Stratton Securities and later bought out the founder.
During Jordan’s years at Stratton, he defrauded many investors with the “pump and pump” type of stock sales. Jordan then began living a lavish lifestyle and began also using recreational drugs, which resulted in addiction.
In December 1996, the National Association of Security Dealers (NASD) expelled Stratton Oatmont, putting it out of business due to the fraudulent activities. He also served 22 months in prison after pleading guilty to the crime.
Jordan Belfort’s Net Worth
Belfort’s net worth is estimated to be $100 million, from giving career advice.