Jordan Belfort | Biography
Jordan Belfort is American author, motivational speaker and also former stockbroker. He was born as Jordan Ross Belfort on 9th July, 1962 in The Bronx, New York City of United States. Both of his parents: mom, Leah Belfort and dad, Max Belfort are accountants. Born in The Bronx, he was brought up in Bayside, Queens. Between his high school and college starting, he along with Elliot Loewenstern, his childhood friend, he had earned $20 thousand by selling Italian ice to people at local beach. As his mother’s dream for him was to be a doctor, he had planned to use money earned to pay for dental-school qualification. He then went to American University and got attended dental school but left just after a day knowing that dentistry wouldn’t help in getting his dream of becoming rich fulfilled.
After dropping from university, with early talent for salesmanship but ambition, he began operating seafood and meat business in 1980s. When company went bust, he started selling stocks in late 1980s. He then opened investment firm of his own called Stratton Oakmont in Long Island in New York. He started swindling millions of dollars from the investors. Along with Danny Porush, his partner, he would run ‘pump and dump’ scheme. The was process was for getting clients to buy stocks, hence raising stocks prices and then selling company’s holdings in stocks for large profits. Instead of hiring educated college graduates and stockbrokers, he often hired just high-school graduate impressionable youths. He became rich day-by-day and once earning $20 million in 3 minutes. He had luxurious estate in Long Island and had high-rise apartments in Manhattan. His success brought lot of attention from several organizations. The U.S Securities and Exchange Commission claimed that Stratton Oakmont has swindled investors and influenced stock market in 1992. After two years, he reached settlement U.S Securities and Exchange Commission, which ordered Belfort could no longer work in securities industry. His company was fined and finally The National Association of Securities Dealers scrutinized it. In 1996, Stratton Oakmont was ejected from association and was later liquidate to pay off settlements over next year. In 1999, Belfort appealed guilty to money laundering and fraud and his prison sentence was shortened. In 2003, he was personally fined 110 million dollars and sentenced to 4 years prison.
During his time in prison, he was encouraged to writing. Later in 2008, he published a memoir entitled ‘The Wolf of Wall Street’. The inspirational memoir was adapted into big-screen production and released in 2013. The film was directed by Martin Scorsese and Leonardo DiCarpio starred as Belfort. He had later released another book ‘Catching the Wolf of Wall Street: More Incredible True Stories of Fortunes, Schemes, Parties and Prison’. He had given motivational speeches. It has included a tour of live seminars entitled ‘The Truth Behind His Success’ and more other international appearances. He has shared his experience and regrets upon his works throughout his life. He has regretted for losing money and people that he earned ambitiously. He has spoken largely about ethics and motivation and also about skills and entrepreneurship. Though earning much in his early years, being troubled with the law and fined the great amount from his personal income, his net worth has been negative. As per the latest updates available in Medias, the estimated amount of his net worth is -$100 million.
While he was running Stratton Oakmont business, he had ended his relationship with Denise Lombardo, his first wife. His first marriage details including the date of marriage or date of divorce aren’t unveiled yet. Thereafter, he married Nadine Caridi, British-born model. Being ambitious in his dream of earning tremendous amount of money, he couldn’t prolong his marital relationship. His second wife also filed for divorce claiming about domestic violence which was probably fueled by his drug addiction and extra-marital affairs. Their divorce was finalized in 2005. With his second wife, he has two children: Carter and Chandler. These days, he resides in Los Angeles, California trying to maintain closeness with his children.
Now, Belfort operates company which provides markets Straight Line training programs and sales training aimed at building wealth. He has claimed of straightening up his act. Those becoming interested upon him can read his biographic details in various websites around the internet.