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Revision as of 23:23, 19 December 2012 editCopycat2012 (talk | contribs)8 edits In fact, I did participate SPLORKSPLORK, but my old password wouldn't work, so I got a new screen name. Speaking of redundancy, calling him a white collar criminal and then following it up with the next sentence stating that he was convicted of offenses← Previous edit Latest revision as of 09:00, 27 December 2024 edit undoSjö (talk | contribs)Extended confirmed users, New page reviewers, Pending changes reviewers, Rollbackers58,930 editsm Reverted edit by 2600:1700:73BC:A810:4555:C6CE:CB73:52A4 (talk) to last version by PEPSI697Tag: Rollback 
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{{Short description|American former stockbroker (born 1962)}}
{{Infobox Person
{{pp-pc1}}
| name = Jordan Belfort
{{Use mdy dates|date=January 2019}}
| image =
{{Infobox criminal
| image_size =
| caption = | name = Jordan Belfort
| image = JordanBelfort2017.png
| birth_name =
| birth_date = {{Birth date and age|1962|7|6}} | image_size =
| caption = Belfort in November 2017
| birth_place = ], ]
| birth_name = Jordan Ross Belfort
| residence =
| birth_date = {{Birth date and age|1962|7|9}}
| nationality = ]
| birth_place = New York City, U.S.
| other_names =
| other_names =
| known_for = His criminal stock market manipulation as a ] operator.
| alma_mater = ] (])
| occupation = ]<br />]<br />]
| occupation = {{flatlist|
| hometown = ], USA
*Businessman
| website =
*speaker
*author}}
| conviction_status = Released April 2006 after 22 months<ref name="telegraph.co.uk"/><ref>{{cite web |url=http://www.bop.gov/iloc2/InmateFinderServlet?Transaction=NameSearch&needingMoreList=false&FirstName=Jordan&Middle=&LastName=Belfort&Race=U&Sex=U&Age=&x=71&y=10 |archive-url=https://archive.today/20130213155215/http://www.bop.gov/iloc2/InmateFinderServlet?Transaction=NameSearch&needingMoreList=false&FirstName=Jordan&Middle=&LastName=Belfort&Race=U&Sex=U&Age=&x=71&y=10 |url-status=dead |archive-date=February 13, 2013 |title=Federal Bureau of Prisons |publisher=Bop.gov |date=April 28, 2006 |access-date=April 3, 2013 }}</ref>
| spouse = {{marriage|Denise Lombardo|1985|1991|end=divorced}}<ref>{{cite web|url= http://www.slate.com/blogs/browbeat/2013/12/31/wolf_of_wall_street_true_story_jordan_belfort_and_other_real_people_in_dicaprio.html |title= How Accurate Is The Wolf of Wall Street? |work= Slate |first= David |last= Haglund |date= December 31, 2013 |access-date= February 15, 2014}}</ref>
{{marriage|]|1991|2005|end=divorced}}<ref name="telegraph.co.uk"/> {{marriage|Anne Koppe|2008|2020|end=divorced}}
{{marriage|Cristina Invernizzi|2021}}
| conviction = ], ]<ref name="telegraph.co.uk">{{cite news|first=Tom|last=Leonard |url= https://www.telegraph.co.uk/news/features/3635727/Jordan-Belfort-Confessions-of-the-Wolf-of-Wall-Street.html |title= Jordan Belfort: Confessions of the Wolf of Wall Street |work=] |date= February 25, 2008 |access-date= April 3, 2013 |location= London, England}}</ref>
| website = {{url|https://jb.online|jb.online}}
| conviction_penalty = 22 months in federal prison, one month in rehab, $110 million in restitution<ref name="telegraph.co.uk"/>
| module = {{Listen |embed= yes |filename= JordanBelfortRapport.ogg |title= Belfort's voice |type= speech |description= On the importance of rapport in business }}
}} }}


'''Jordan Belfort''' (born July 9, 1962) is an American author, motivational speaker, and former stockbroker who was convicted of offenses related to stock market manipulation and running a ] for which he spent 22 months in jail.<ref name="TheAustralian">. ''TheAustralian.News.com.au''.</ref> In the 1990s, he founded brokerage firm ] which functioned as a ], and developed a hard-partying lifestyle, which included a serious drug addiction (namely ]).<ref>{{cite news |url=http://www.telegraph.co.uk/news/features/3635727/Jordan-Belfort-Confessions-of-the-Wolf-of-Wall-Street.html |title=Confessions of the Wolf of Wall Street |location=London |work=The Daily Telegraph |first=Tom |last=Leonard |date=February 25, 2008}}</ref><ref>. ''CNBC.com''.</ref> The firm also served as inspiration for the 2000 film '']''.<ref>.</ref> As the owner of Stratton Oakmont, he employed over 1000 stockbrokers and was involved in stock issues totaling more than $1 billion, including an equity raising for footwear company ]. '''Jordan Ross Belfort''' ({{IPAc-en|ˈ|b|ɛ|l|f|ə|r|t}}; born July 9, 1962) is an American former ], financial criminal, and businessman who pleaded guilty to fraud and related crimes in connection with ] and running a ] as part of a ] in 1999.<ref>{{cite web | url=https://markets.businessinsider.com/news/stocks/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf-1030702306 | title=Wall Street Crime and Punishment: Jordan Belfort, the Boiler Room Wolf | date=December 15, 2023 }}</ref> Belfort spent 22 months in prison as part of an agreement under which, becoming an informant for the FBI and wearing a ], he gave testimony against numerous partners and subordinates in his fraud scheme.<ref name="TheAustralian">{{cite news |first=James|last=Dunn|url= http://www.theaustralian.news.com.au/business/story/0,,26079486-5018019,00.html |title= Wolf of Wall Street back on the prowl: Jordan Belfort |newspaper=]|date= September 25, 2009|access-date= June 23, 2013 |archive-url= https://archive.today/20121215213354/http://www.theaustralian.com.au/business/small-business/wolf-of-wall-street-back-on-the-prowl-jordan-belfort/story-e6frg9hf-1225776869682 |archive-date= December 15, 2012 |url-status=dead |df= mdy-all }}</ref> He published the memoir '']'' in 2007, which was adapted into ]'s ] released in 2013, in which he was played by ].


==Early life==
Belfort was the final owner of the 37m yacht the ''Nadine'' (renamed after his second wife) originally built for ] which by the time it was sunk had been extended to over 50m. In June 1997, it sank off the east coast of ]. The Italian Special Forces were called to rescue all aboard the vessel - no one was harmed. In his book, Belfort details how he insisted on sailing out in high winds against the advice of his Captain which eventually caused the ship to sink as result of violent waves smashing the foredeck hatch. Features of the ''Nadine'' included a helicopter, 8 jetskis and 4 or 5 tenders.<ref>{{cite web |url=http://www.yachtandcrew.com/index.php?option=com_content&view=article&id=91:motor-yacht-nadine&catid=1:yacht-accident-stories&Itemid=18 |title=Motor Yacht Nadine}}</ref>
Belfort was born in 1962 in ], a ], to Jewish parents, Maxwell "Max" Belfort and Leah (] Markowitz).<ref>New York City, Marriage Licenses Index, 1950-1955</ref> They were both accountants.<ref>{{cite book |last=Belfort |first=Jordan |date=2007 |title=The Wolf of Wall Street |url=https://archive.org/details/wolfofwallstreet00belf |url-access=registration |location=New York City |publisher=] |quote=This was serious Mafia stuff, impossible for a Jew like me to fully grasp the nuances of.|isbn=978-0-345-54933-4 |page= }}</ref><ref name="sleep">{{cite news |first=Geoffrey |last=Gray |title=The Wolf of Wall Street Can't Sleep |url=https://nymag.com/news/features/jordan-belfort-2013-12/index1.html |access-date=November 26, 2014 |work=] |date=November 24, 2013}}</ref><ref>{{cite news|first=Rob|last=Eshman|title='The Wolf' and the Jewish problem|url=http://www.jewishjournal.com/rob_eshman/article/jordan_belfort_and_the_wolf_of_wall_streets_jewish_problem|access-date=December 29, 2014|work=]|date=December 31, 2013}}</ref> His paternal grandfather, Jack Belfort (1904–1970), was an immigrant from ], while his grandmother was a ] born to ] parents in ].<ref>United States Census 1940</ref><ref>{{Cite web |last=Contributor |first=Ron Marzlock, Chronicle |date=2021-12-23 |title=Bay Terrace's Belfort was hungry like the wolf — for cash |url=https://www.qchron.com/qboro/i_have_often_walked/bay-terrace-s-belfort-was-hungry-like-the-wolf-for-cash/article_ca51c111-3320-5f9a-b498-ccca73ea84be.html |access-date=2024-02-25 |website=Queens Chronicle |language=en}}</ref> Belfort was raised in ].<ref name="telegraph.co.uk"/><ref>{{cite book|last=Belfort|first=Jordan|url=https://books.google.com/books?id=zBcP-i41kcEC&pg=PA442 |title=Catching the Wolf of Wall Street|publisher=Bantam Dell |date=February 24, 2009 |access-date=June 23, 2013|isbn=9780553906011}}</ref><ref>{{cite web|first=Vince|last=Veneziani |url=http://www.businessinsider.com/revisiting-jordan-belfort-the-wolf-of-wall-street-2010-3?op=1 |title=Revisiting The Amazing Story Of Jordan Belfort: "The Wolf Of Wall Street" |magazine=] |date=March 25, 2010 |access-date=June 23, 2013}}</ref><ref name="sleep"/><ref name=vulture>{{cite news |url=https://www.vulture.com/2013/12/jordan-belfort-real-wolf-of-wall-street.html |title=Meet Jordan Belfort, the Real Wolf of Wall Street |work=] |first=Geoffrey |last=Gray |date=December 30, 2013 |access-date=December 30, 2013}}</ref><ref name=autobio>{{cite book|first=Jordan|last=Belfort|title=The Wolf of Wall Street|url=https://books.google.com/books?id=GLLCyNj-IUoC&pg=PA47|date=September 25, 2007|publisher=]|location=New York City|isbn=978-0-553-90424-6|page=47}}</ref> Between completing high school and starting college, Belfort and his close childhood friend Elliot Loewenstern earned $20,000 selling ] from styrofoam coolers to people at a local beach.<ref>Belfort, Jordan. "The Wolf of Wall Street". Random House. pp. 112. {{ISBN|978-0-553-80546-8}}</ref>


Belfort went on to graduate from ] with a degree in biology.<ref name=vulture /><ref name="Forbes">{{cite news|first=Brian|last=Solomon|url=https://www.forbes.com/sites/briansolomon/2013/12/28/meet-the-real-wolf-of-wall-street-in-forbes-original-takedown-of-jordan-belfort/ |title=Meet The Real 'Wolf Of Wall Street' In Forbes' Original Takedown Of Jordan Belfort |access-date=January 1, 2014 |date=December 28, 2013 |work=] }}</ref> Belfort planned on using the money earned with Loewenstern to pay for dental school,<ref>{{cite web |url=http://www.wolfofwallstreet.info/bio.php?id=jordan_belfort |title=Jordan Belfort Biography |publisher=Wolf of Wall Street Info |access-date=May 14, 2014 |archive-url=https://web.archive.org/web/20140222001403/http://www.wolfofwallstreet.info/bio.php?id=jordan_belfort |archive-date=February 22, 2014 |url-status=dead }}</ref> and he enrolled at the ]. However, the dean of the dental school gave a welcoming speech on the first day in which he said, "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." Belfort subsequently elected not to attend the graduate program.<ref name=indep>{{cite news|last=Kumar|first=Nikhil|title=Jordan Belfort: The real Wolf of Wall Street|url=https://www.independent.co.uk/news/people/profiles/jordan-belfort-the-real-wolf-of-wall-street-9018925.html |archive-url=https://ghostarchive.org/archive/20220614/https://www.independent.co.uk/news/people/profiles/jordan-belfort-the-real-wolf-of-wall-street-9018925.html |archive-date=June 14, 2022 |url-access=subscription |url-status=live|work=]|date=December 20, 2013|access-date=January 22, 2014|location=London}}</ref><ref>{{cite web|url=https://www.youtube.com/watch?v=G3K92uugO9o | archive-url=https://ghostarchive.org/varchive/youtube/20211030/G3K92uugO9o| archive-date=2021-10-30|title=Jordan Belfort - The Wolf of Wall Street |website=] |date=July 5, 2010 |access-date=May 14, 2014}}{{cbignore}}</ref>
Alabama Securities Commissioner ] pushed the formation of a multi-state task force which eventually led to the prosecution of Stratton Oakmont after his office was inundated with complaints regarding the brokerage.<ref name="AL">{{cite news |last=Hubbard |first=Russell |title=Joe Borg, Alabama Securities Commission boss, has reputation of being tough on crooks |url=http://blog.al.com/businessnews/2010/03/joe_borg_alabama_securities_co.html |accessdate=January 25, 2011 |newspaper=The Birmingham News |date=March 21, 2010}}</ref>


==Career==
Belfort was indicted in 1998 for securities fraud and money laundering. After cooperating with the FBI, he served twenty-two months in federal prison for a ] scheme, which resulted in investor losses of approximately $200 million.
Belfort was ordered to pay back $100 million that he took from stock brokers.<ref>. ''ABC.Net.au''.</ref>


===Early ventures===
Reportedly sober for 14 years, Belfort's two bestselling memoirs, '']'' and '']'', have been published in approximately forty countries and translated into eighteen languages.<ref name="TheAustralian" /> His life-story is currently being turned into a ] by Red Granite Pictures, with ], ] among others set to star and ] set to direct. Filming began in August 2012.<ref>Fleming, Mike (April 19, 2012). . ''Deadline.com''. PMC. Retrieved August 11, 2012.</ref> He has toured internationally as a motivational speaker, discussing how to achieve success without sacrificing integrity and ethics.<ref name="TheAustralian" /> Belfort currently resides in ].<ref>{{cite news |url=http://www.nytimes.com/2007/09/11/business/media/11book.html?pagewanted=1&_r=1 |work=NYTimes.com |title=In the Ashes of His Life as a Broker, Inspiration |author=Thomas Jr., Landon |date=September 11, 2007 |accessdate=September 8, 2011}}</ref>
Belfort became a ] meat and seafood salesman on ], New York.<ref name="Forbes"/> He claims in interviews and his memoirs that the business was an initial success; he grew his meat-selling business to employ several workers and sell {{convert|5000|lb|kg|abbr=off}} of beef and fish a week.<ref name="Forbes"/> The business ultimately failed, and he filed for bankruptcy at 25.<ref name="Forbes"/>


According to his memoirs and interviews, a family friend helped him find a job as a trainee stockbroker at ].<ref>{{cite book| last=Straney | first=Louis L. | title=Securities Fraud: Detection, Prevention, and Control | year=2010 | publisher=Wiley | location=Hoboken, New Jersey | page=133 | isbn= 9780470601570 | oclc=696918833 | url=https://books.google.com/books?id=-UT8QMXywl8C&q=Jordan+R+Belfort&pg=PA132 | access-date=January 14, 2014}}</ref> Belfort says he was laid off after that firm experienced financial difficulties related to the ] stock market crash of 1987.<ref name=indep/><ref name="slate.com">{{Cite news| url =http://www.slate.com/blogs/browbeat/2013/12/31/wolf_of_wall_street_true_story_jordan_belfort_and_other_real_people_in_dicaprio.html|title= How Accurate Is The Wolf of Wall Street?|first=David|last=Haglund|work=] |date =December 31, 2013}}</ref><ref name="Nyt1">{{Cite news| url =https://www.nytimes.com/2013/12/22/movies/martin-scorseses-approach-in-the-wolf-of-wall-street.html |title=Sex and Drugs and I.P.O.'s|first= Joe|last=Nocera|work=] |date =December 19, 2013}}</ref>
== References ==
{{Reflist|2}}


===Stratton Oakmont===
{{Authority control|VIAF=68378818}}
Belfort founded ] as a franchise of Stratton Securities, then later bought out the original founder.<ref name="slate.com"/> Stratton Oakmont functioned as a ] that marketed ]s and defrauded investors with "]" stock sales.<ref name="Wolf of Wall Street Movie Rights">{{cite web|last=Gasparino|first=Charlie|title='Wolf of Wall Street' Gets $1M Pay Day for Movie Rights|url=http://www.foxbusiness.com/2013/03/12/wolf-wall-street-gets-1m-pay-day-for-movie-rights/|publisher=Fox Business|date=March 12, 2013|access-date=October 25, 2013|archive-url=https://web.archive.org/web/20140217034106/http://www.foxbusiness.com/2013/03/12/wolf-wall-street-gets-1m-pay-day-for-movie-rights/|archive-date=February 17, 2014}}</ref> During his years at Stratton, Belfort led a life of lavish parties and intensive use of recreational drugs, especially ]—sold to him under the brand name "Quaalude"—that resulted in an addiction.<ref name="telegraph.co.uk"/><ref>{{cite web|first=Jane |last=Wells |url=https://www.cnbc.com/2007/10/03/whos-jordan-belfort-ill-tell-you-exactly-who-he-is.html |title=Who's Jordan Belfort? I'll Tell You Exactly Who He Is |website=] |date=October 3, 2007 |access-date=June 23, 2013}}</ref> Stratton Oakmont at one point employed over 1,000 stock brokers and was involved in stock issues totaling more than $1 billion, including being behind the ] for footwear company ]. The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film '']'' (2000),<ref>{{cite web|url=http://www.randomhouse.com/catalog/display.pperl/9780553805468.html |title=The Wolf of Wall Street by Jordan Belfort&nbsp;— Book&nbsp;— eBook&nbsp;— Audiobook |publisher=Random House |access-date=June 23, 2013}}</ref> as well as the biopic '']'' (2013).
{{Persondata <!-- Metadata: See ] -->

| NAME = Belfort, Jordan
Stratton Oakmont was under near-constant scrutiny from the National Association of Securities Dealers (now the ]) from 1989 onward. Finally, in December 1996, the NASD expelled Stratton Oakmont, putting it out of business.<ref name="finra.org">{{Cite news|url=http://www.finra.org/Newsroom/NewsReleases/1996/p010592|title=NASD Regulation Expels Stratton Oakmont; Principals Also Barred|first=Nancy A.|last=Condon|publisher=]|date=December 5, 1996|access-date=October 26, 2014|archive-url=https://web.archive.org/web/20141004063946/http://www.finra.org/Newsroom/NewsReleases/1996/P010592|archive-date=October 4, 2014|url-status=dead}}</ref> Belfort was then indicted for ] and ] in 1999.<ref>{{cite news|url=https://www.nytimes.com/1999/04/18/nyregion/beaches-billy-joel-oddly-swindles-island-has-become-home-stock-scams-but.html |title=Beaches, Billy Joel and, Oddly, Swindles; The Island Has Become Home to Stock Scams, But Regulators Are Cracking Down |date=April 18, 1999 |access-date=January 1, 2014 |work=]|first=Leslie |last=Eaton }}</ref><ref name="Bloom">{{cite news|title=Wolf of Wall Street Belfort Is Aiming for $100 Million Pay|url=https://www.bloomberg.com/news/2014-05-19/wolf-of-wall-street-belfort-sees-pay-top-100-million-this-year.html|access-date=May 21, 2014|newspaper=Bloomberg|date=May 19, 2014|first1=Stefania|last1=Bianchi|first2=Mahmoud|last2=Habboush}}</ref>
| ALTERNATIVE NAMES =

| SHORT DESCRIPTION = White-collar criminal<br />Motivational speaker<br /> Founder of ] brokerage house
Belfort became an informant for the FBI and wore a wire against numerous partners and associates, later testifying against many of them.<ref>{{cite web | url=https://nymag.com/news/features/jordan-belfort-2013-12/ | title=Meet Jordan Belfort, the Real Wolf of Wall Street -- New York Magazine - Nymag | date=November 22, 2013 }}</ref> On July 18, 2003, Belfort was sentenced to four years in prison.<ref>{{Cite news |last=Harrigan |first=Susan |date=July 19, 2003 |title=Stratton Oakmont's Belfort Sentenced |pages=A21 |work=] |url=https://www.newspapers.com/article/newsday-stratton-oakmonts-belfort-sente/128426750/ |access-date=July 17, 2023 |via=]}} {{Open access}}</ref> Belfort served 22 months of the sentence at the ] in ], in exchange for a ] with the ] for running pump-and-dump scams that led to investor losses of approximately $200 million.<ref name="telegraph.co.uk" /><ref>{{cite web|last1=Newby |first1=Jack |title=The pump-and-dump schemes behind 'The Wolf of Wall Street' |url=http://www.bdlive.co.za/businesstimes/2014/07/13/the-pump-and-dump-schemes-behind-the-wolf-of-wall-street |access-date=August 7, 2014 |date=July 13, 2014 |archive-url=https://web.archive.org/web/20140722090559/http://www.bdlive.co.za/businesstimes/2014/07/13/the-pump-and-dump-schemes-behind-the-wolf-of-wall-street |archive-date=July 22, 2014 }}</ref> Belfort was ordered to pay back $110.4 million that he swindled from stock buyers.<ref>{{cite web |url=http://www.abc.net.au/sundayprofile/stories/2662078.htm |title=Jordan Belfort&nbsp;— Interview from Sunday Profile |publisher=Australian Broadcasting Corporation |date=August 20, 2009 |access-date=June 23, 2013 |archive-url=https://web.archive.org/web/20131230141257/http://www.abc.net.au/sundayprofile/stories/2662078.htm |archive-date=December 30, 2013 |url-status=dead }}</ref> Belfort shared a cell with ] while serving his sentence, and Chong encouraged him to write about his experiences as a stockbroker.<ref name=NYMag>{{cite news|last=Gray|first=Geoffrey|title=The Wolf of Wall Street Can't Sleep|work =]|date=December 2, 2013|pages=64–69|url=https://nymag.com/news/features/jordan-belfort-2013-12/|access-date=October 6, 2014}}</ref> The pair remained friends after their release from prison,<ref name=NYMag /> with Belfort crediting Chong for his new career direction as a ] and writer.<ref name=asu>{{cite news |first=Cameron|last=Stewart|url=http://www.theaustralian.com.au/life/weekend-australian-magazine/whos-afraid-of-jordan-belfort-the-wolf-of-wall-street/story-e6frg8h6-1226906434759 |title=Who's afraid of Jordan Belfort, the Wolf of Wall Street? |work=]| date=May 10, 2014}}</ref> At a motivational talk that he delivered in ], ], on May 19, 2014, Belfort stated:
| DATE OF BIRTH = July 6, 1962

| PLACE OF BIRTH = ], ]
<blockquote>I got greedy. ... Greed is not good. Ambition is good, passion is good. Passion prospers. My goal is to give more than I get, that's a sustainable form of success. ... Ninety-five per cent of the business was legitimate. ... It was all brokerage firm issues. It was all legitimate, nothing to do with liquidating stocks.<ref name="Bloom" /></blockquote>
| DATE OF DEATH =

| PLACE OF DEATH =
Federal prosecutors and SEC officials involved in the case, however, have said, "Stratton Oakmont was not a real Wall Street firm, either literally or figuratively."<ref>{{Cite news| url =https://www.wsj.com/articles/SB10001424052702303453004579290450707920302|title=How the 'Wolf of Wall Street' Really Did It|first=Ronald L.|last=Rubin|work=] |date = January 3, 2014}}</ref><ref name="dealbook.nytimes.com">{{Cite news| url =https://dealbook.nytimes.com/2014/01/07/the-real-belfort-story-missing-from-wolf-movie|title=The Real Belfort Story Missing From 'Wolf' Movie|first=Joel M.|last=Cohen|work=] |date =January 7, 2014}}</ref>
}}

===Restitution===
Belfort's ] agreement required him to pay 50% of his income toward restitution to the 1,513 clients he defrauded until 2009, with a total of $110&nbsp;million in restitution further mandated. About $10&nbsp;million of the $110&nbsp;million that had been recovered by Belfort's victims {{as of|2013|lc=y}} was the result of the sale of forfeited properties.<ref name="Real 'Wolf of Wall Street'">{{cite news|last=Dillon|first=Nancy|title=Real 'Wolf of Wall Street' Jordan Belfort still owes millions to victims: prosecutors|url=http://www.nydailynews.com/real-wolf-wall-street-owes-millions-prosecutors-article-1.1490297|access-date=October 25, 2013|work=Daily News|date=October 19, 2013}}</ref>

In October 2013, federal prosecutors filed a complaint against Belfort. Several days later, the U.S. government withdrew its motion to find Belfort in default of his payments, after his lawyers argued that he had only been responsible for paying 50% of his salary to restitution until 2009, and not since. The restitution he paid during his parole period (after leaving prison) amounted to $382,910 in 2007, $148,799 in 2008, and $170,000 in 2009. After that period, Belfort began negotiating a restitution payment plan with the U.S. government.<ref name="Real">{{cite news| last=Kolhatkar | first=Sheelah | title=Jordan Belfort, the Real Wolf of Wall Street | date=November 7, 2013 | work=Bloomberg BusinessWeek | publisher=Bloomberg | url=http://www.businessweek.com/articles/2013-11-07/jordan-belfort-the-real-wolf-of-wall-street#p4 | archive-url=https://web.archive.org/web/20131108215541/http://www.businessweek.com/articles/2013-11-07/jordan-belfort-the-real-wolf-of-wall-street#p4 | url-status=dead | archive-date=November 8, 2013 | access-date=January 14, 2014}}</ref>

The final deal Belfort made with the government was to pay a minimum of $10,000 per month for life toward the restitution, after a judge ruled that Belfort was not required to pay 50% of his income past the end of his parole. Belfort has claimed that he is putting the profits from his U.S. public speaking engagements and media royalties toward the restitution, in addition to the $10,000 per month.<ref name=bee />

Prosecutors also said that he had fled to Australia to avoid taxes and conceal his assets from his victims,<ref>{{Cite news|url=http://www.designntrend.com/articles/10550/20140131/jordan-belfort-still-greedy-real-wolf-wall-street-runs-australia-avoid-paying-restitution-earns-millions-movie-motivational-speeches-dvd.htm|archive-url=https://web.archive.org/web/20140201232333/http://www.designntrend.com/articles/10550/20140131/jordan-belfort-still-greedy-real-wolf-wall-street-runs-australia-avoid-paying-restitution-earns-millions-movie-motivational-speeches-dvd.htm|url-status=dead|archive-date=February 1, 2014|title=Jordan Belfort STILL Greedy: Real 'Wolf Of Wall Street' Runs To Australia To Avoid Paying Restitution, Earns Millions From Movie, Motivational Speeches, DVD|first=Peter|last=Black|magazine=]|date=January 31, 2014}}</ref> but later recanted their statement, which had been given to '']'',<ref name=WSJ>{{cite news|url=https://www.wsj.com/articles/SB10001424052702304347904579312560659290676|title=Prosecutors Give Poor Reviews to Restitution From Jordan Belfort, 'Wolf of Wall Street'|first=Charles|last=Levinson|date=January 14, 2014|work=]|access-date=July 4, 2015}}</ref> by issuing Belfort an official apology and requesting that ''The Wall Street Journal'' print a retraction.<ref>{{cite news|url=http://www.news.com.au/finance/money/us-attorneys-office-apologises-to-wolf-of-wall-street-jordan-belfort-over-article-suggesting-he-is-hiding-in-australia/story-e6frfmci-1226801457393|title=US attorney's office apologises to 'Wolf of Wall Street' Jordan Belfort over article suggesting he is hiding in Australia|work=NewsComAu|access-date=July 4, 2015|date=January 15, 2014|archive-date=July 18, 2016|archive-url=https://web.archive.org/web/20160718052500/http://www.news.com.au/finance/money/us-attorneys-office-apologises-to-wolf-of-wall-street-jordan-belfort-over-article-suggesting-he-is-hiding-in-australia/story-e6frfmci-1226801457393|url-status=dead}}</ref>

Belfort claimed on his website and elsewhere that he intended to request that "100% of the royalties" from his books and '']'' film be turned over to victims. But in June 2014, spokesmen for the U.S. attorney said that Belfort's claim was "not factual",<ref>{{Cite news| url =http://www.esquire.com/blogs/news/jordan-belfort-awful-person-is-now-touring |title= Jordan Belfort, Awful Person, is Now Touring|first= Michael|last=Howard |work=] |date = June 12, 2014}}</ref> and that he had received money from the initial sale of the ] that was not entirely put toward his restitution repayment.<ref name=WSJ />

'']'' reported that Belfort had paid only $21,000 toward his restitution obligations out of approximately $1.2&nbsp;million paid to him in connection with the film before its release.<ref name="businessweek">{{Cite news| url = http://www.businessweek.com/articles/2013-11-07/jordan-belfort-the-real-wolf-of-wall-street#p4 | archive-url = https://web.archive.org/web/20131108215541/http://www.businessweek.com/articles/2013-11-07/jordan-belfort-the-real-wolf-of-wall-street#p4 | url-status = dead | archive-date = November 8, 2013 |title=Jordan Belfort, the Real Wolf of Wall Street|first=Sheelah|last=Kolhatkar|work=] |date = November 7, 2013}}</ref> Belfort has said that the government refused his offer to put 100% of his book deal money toward his restitution.<ref name="businessweek"/><ref>{{Cite news| url =http://www.ibtimes.co.uk/wolf-wall-street-jordan-belfort-ive-redeemed-myself-1465076|title=Wolf of Wall Street Jordan Belfort: 'I've Redeemed Myself'|first= Sean|last=Martin|work=] |date = September 11, 2014}}</ref>

=== Cryptocurrency ===
Belfort was previously a skeptic of ], having called ] "frickin' insanity" and "mass delusion". As he learned more about cryptocurrency, and the prices skyrocketed, he changed his mind. Belfort has declined offers to create Wolf-themed ]s despite saying that he "could easily make $10&nbsp;million". He has also said that he is "massively looking forward to regulation" of cryptocurrency. Belfort is an investor in several cryptocurrency start-ups.<ref name=":0">{{Cite news |last=Yaffe-Bellany |first=David |date=2022-04-15 |title=The Wolf of Crypto |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/04/15/technology/jordan-belfort-wolf-cryptocurrency.html |access-date=2022-04-15 |issn=0362-4331}}</ref>

==Writing==
Belfort wrote two memoirs, '']'' and ''],'' which have been published in approximately 40 countries and translated into 18 languages.<ref name="TheAustralian" /> ] was released in 2013 starring ] (as Belfort), ], and ]; the film was written by ] and directed by ].<ref name="Time" /><ref name="Rich" />

He wrote his first book in the days following his release from prison (after a false start during his sentence, when he wrote and destroyed 130 initial pages). He received a $500,000 advance from Random House, and before its release, a bidding war began for the book's film rights.<ref name=asu /> The former federal prosecutor who led the criminal investigation of Belfort said that he "invented much", that "he aggrandized his importance and reverence for him by others at his firm", and that, "The real Belfort story still includes thousands of victims who lost hundreds of millions of dollars that they never will be repaid."<ref name="dealbook.nytimes.com"/>

In 2017, he went on to write ''Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success''. It details the sales technique he used alongside his team of brokers while operating on Wall Street. In 2023, Belfort released ''The Wolf of Investing'' which he claims to be his ultimate strategy for making money on Wall St.<ref>{{Cite web |last=Coggins |first=Madeline |date=2023-11-02 |title=The Wolf of Wall Street unveils the 'ultimate strategy' for the average investor |url=https://www.foxbusiness.com/media/wolf-wall-street-unveils-ultimate-strategy-average-investor |access-date=2023-11-11 |website=FOXBusiness |language=en-US}}</ref>

==Motivational speaking==
]
Belfort has given motivational speeches.<ref name="TheAustralian" /><ref name="Real" /> This has included a tour of live seminars in Australia called "The Truth Behind His Success", in addition to other appearances. In a '']'' interview about his new career, Belfort said of his former life that his "greatest regret is losing people's money".{{citation needed|date=April 2020}} He also runs sales seminars called "Jordan Belfort's Straight Line Sales Psychology".<ref name=dt>{{cite web|url=http://www.designntrend.com/articles/11448/20140307/jordan-belforts-absurdly-lucrative-motivational-speaking-tour-real-wolf-of-wall-street-cashes-fame-from-martin-scorsese-movie.htm|title=Jordan Belfort's INSANELY Lucrative Motivational Speaking Tour: Real 'Wolf of Wall Street' EXPLOITS Fame From Martin Scorsese Movie To Boost 'Straight Line' Sales Program|work=]|access-date=July 4, 2015}}</ref> When he first began speaking, he focused largely on motivation and ethics, then moved his focus to ] and entrepreneurship.<ref name=asu />

His speaking engagements are run through his business Global Motivation Inc. and, {{as of|2014|lc=y}}, Belfort was spending three weeks of each month on the road for speaking engagements. The main theme of his speeches includes the importance of ] and learning from the mistakes he made during the 1990s—such as believing that he was justified in skirting the rules of financial regulators simply because it was a common thing to do.<ref name=bee>{{cite web|url=http://www.sacbee.com/news/business/personal-finance/claudia-buck/article2613236.html|title=Wolf of Wall Street: Q&A with Jordan Belfort|work=sacbee|access-date=July 4, 2015}}</ref> His per-engagement speaking fees have been about $30,000–75,000 and his per sales seminar fee can be $80,000 or more.

The main subject matter of his seminars is what he has called "Straight Line System", a system of sales advice.<ref name=asu /><ref name=dt /> Some reviewers have reacted negatively to the content of the speeches, specifically Belfort's recounting of stories from the 1990s.<ref>{{cite news|url=https://www.hollywoodreporter.com/news/my-miserable-night-at-jordan-737331|title=Jordan Belfort's Groupon Sales Seminar - Hollywood Reporter|first=Soo|last=Youn|work=]|access-date=July 4, 2015}}</ref>

== Australian training scandal ==
An investigation led by ] and '']'' uncovered links between Belfort and employment company ] Australia run by Paul Conquest, who also has majority-ownership of Face to Face Training.<ref>{{Cite news|first=Anthony|last=Gough|url=http://www.couriermail.com.au/business/wolf-of-wall-street-jordan-belfort-in-taxpayerfunded-australian-training-programs/news-story/58d972da386fe64b177c51f6b9385a7c|title=Taxpayers keep Wolf from the door|newspaper=]|date=March 28, 2015|access-date=December 31, 2017|language=en}}</ref> These two brands were heavily promoted at Belfort workshops held at ]'s Eatons Hill Hotel. Belfort reportedly gave two workshops on Sales for the staff of Face to Face Training.<ref>{{Cite news|first=Broede|last=Carmody|url=https://www.smartcompany.com.au/finance/training-company-with-links-to-the-wolf-of-wall-street-collapses-into-liquidation/|title=Training company with links to the Wolf of Wall Street collapses into liquidation |date=April 18, 2016|work=SmartCompany|access-date=December 31, 2017|language=en-US}}</ref>

Face to Face Training received $3.9 million from the state government during ]-2014 and $6.34 million during FY-2015 for its training and assessment services. The majority of this money was expected to be spent on service training and certification which did not happen. ] called the training program a scam and the certification program a "tick and flick"<ref>{{Citation|last=WalrusRider|title=Jordan Belfort Caught Scamming in Australia - "The Wolf of Queensland" (2015)|date=May 17, 2017|url=https://www.youtube.com/watch?v=je-TytYQJiw| archive-url=https://web.archive.org/web/20170703204125/https://www.youtube.com/watch?v=je-TytYQJiw&gl=US&hl=en| archive-date=2017-07-03|access-date=December 31, 2017}}</ref> in its ] segment.

==Personal life==
Belfort married his first wife Denise Lombardo in 1985.<ref>{{Cite web |last=Wanjiru |first=Florence |date=2022-01-21 |title=Denise Lombardo: What happened to Jordan Belfort's first wife? |url=https://www.tuko.co.ke/facts-lifehacks/celebrity-biographies/439642-denise-lombardo-what-happened-jordan-belforts-wife/ |access-date=2024-05-22 |website=Tuko.co.ke - Kenya news. |language=en}}</ref> While running Stratton Oakmont, Belfort and Lombardo were divorced. He later married ], a British-born, ]-raised model whom he met at a party. He had two children with her. Belfort and Caridi ultimately separated following her claims of ], which were fueled by his problems with drug addiction and infidelity. They divorced in 2005.<ref>{{cite web|url=https://www.mirror.co.uk/tv/tv-news/jordan-belfort-meet-real-wolf-3011694|title=Jordan Belfort: Meet the REAL Wolf of Wall Street as played by Leonardo DiCaprio|first=Annette|last=Witheridge|date=March 2, 2014|work=]}}</ref><ref name="Slate">{{cite journal|last=Walker|first=Rob|title=Genius of Capitalism: Steve Madden|journal=]|date=April 10, 2002|url=http://www.slate.com/id/2064214|access-date=October 28, 2010}}</ref>

Belfort is an avid tennis player.<ref name="asu" />

Belfort was the final owner of the luxury yacht ''Nadine'', which was originally built for French fashion designer and businesswoman ] in 1961. The yacht was renamed after Caridi. In June 1996, the yacht sank off the east coast of ]<ref>{{cite news|url=http://archivio.corriere.it/Archivio/interface/slider.html#!yacht/24-06-1996/24-06-1996/NobwRAdghgtgpmAXGAJlALlMAaMAzAJwHsYkwAmAFgHoAGANmoEYBOF+nMdIsqux1uzABfbOGjwyAazgBPAO5ECKTujgAPdGVlQAxgAstwgLpA|title=I naufraghi dello yacht miliardario salvati in extremis|date=June 24, 1996|newspaper=]|access-date=December 3, 2019|issue=paywall|language=it}}</ref> and ] from the ] ] unit '']'' rescued all who were aboard the vessel. Belfort said that he insisted on sailing out in high winds against the advice of his captain, resulting in the sinking of the vessel when waves smashed the foredeck hatch.<ref>{{cite journal |first=Kenny |last=Wooton |title=The Longest Night |journal=Yachting |volume=181 |number=5 |date=May 1997|page=54|issn=0043-9940}}</ref><ref>{{cite book |title=The Wolf of Wall Street |first=Jordan |last=Belfort |publisher=Random House |isbn=978-0-553-80546-8 |year=2007 |pages= |url-access=registration |url=https://archive.org/details/wolfofwallstreet00belf/page/406 }}</ref>

In 2021, a hacker stole $300,000 in digital tokens from Belfort's ].<ref name=":0" />

=== Politics ===
In the 1990s, Belfort donated $100,000 to the ] and $2,000 to ]'s reelection campaign in the ].<ref>{{Cite news |last=Labaton |first=Stephen |date=1994-06-17 |title=D'Amato Defending Remarkable One-Day Profit |language=en-US |work=The New York Times |url=https://www.nytimes.com/1994/06/17/nyregion/d-amato-defending-remarkable-one-day-profit.html |access-date=2023-04-10 |issn=0362-4331}}</ref> Despite calling himself "a liberal at heart", with "social views are liberal; abortion and stuff like that", Belfort said that in the run-up to the ], he "became very pro-Trump . . . . And then when I saw what happened after he won, I was like‚ 'this country is worse than I thought!'. There's obviously such a problem with the liberals, I'd never seen anything like it."<ref>{{Cite web |date=2017-01-27 |title=Jordan Belfort: «Why I Voted for Donald Trump» |url=https://www.finews.com/news/english-news/25959-jordan-belfort-wolf-of-wall-street-switzerland-speeches-donald-trump-greg-coleman-4 |access-date=2023-04-10 |website=finews.com |language=en-gb}}</ref> Ultimately Belfort voted for ] because he agreed with Trump on ] and ].<ref name="Jarvis2019">{{Cite web |last=Jarvis |first=Jacob |date=2019-04-28 |title='Wolf of Wall Street': Trump weakened by gift of 'p****** people off' |url=https://www.standard.co.uk/news/world/wolf-of-wall-street-jordan-belfort-says-donald-trump-has-weakened-his-influence-by-p-ing-people-off-a4126326.html |access-date=2023-04-10 |website=Evening Standard |language=en}}</ref> Despite his support for Trump he has also acknowledged that Trump's rhetoric is divisive.<ref name="Jarvis2019" /> During the ], he criticized ] and ] for policy proposals that would affect financial institutions, saying, "What frightens me about a Bernie Sanders or an Elizabeth Warren is like they think that government is the answer but the policies that they're talking about will literally destroy the fabric of the country."<ref>{{Cite web |last=Halon |first=Yael |date=2019-10-11 |title=Real-life 'Wolf of Wall Street' supports Trump, slams Warren and Sanders' 'destructive' policies |url=https://www.foxnews.com/media/real-life-wolf-wall-street-tomi-lahren |access-date=2023-04-10 |website=Fox News |language=en-US}}</ref>

==Works==

===Nonfiction===

;Autobiographies:
*'']'' (Bantam, 2007). {{ISBN|978-0553805468}}.<ref>{{cite book|title=The wolf of Wall Street|via=OCLC WorldCat|publisher=OCLC|year=2001–2014|oclc=123912480}}</ref>
*'']'' (Bantam, 2009). {{ISBN|978-0553807042}}.<ref>{{cite book|title=Catching the Wolf of Wall Street|via=OCLC WorldCat|publisher=OCLC|year=2001–2014|oclc=232129347}}</ref>

;Self-help:
*''Way of the Wolf: Become a Master Closer with Straight Line Selling'' (2017). {{ISBN|9781501164286}}.

==Adaptations==

Filming of Scorsese's adaptation of Belfort's memoirs began in August 2012, and ] was released on December 25, 2013.<ref name="Rich">{{cite magazine | last=Rich | first=Katey | title=''Wolf of Wall Street'' Editor Thelma Schoonmaker Says Leonardo DiCaprio "Will Do Anything for Marty" | url= https://www.vanityfair.com/online/oscars/2014/01/wolf-of-wall-street-editor-thelma-schoonmaker-there-s-nothing-like-a-handsome-actor-making-fun-of-himself | magazine= Vanity Fair | date=January 7, 2014 | access-date=January 14, 2014}}</ref><ref>Fleming, Mike (April 19, 2012). . Deadline.com. PMC. Retrieved August 11, 2012.</ref> '']'' magazine reported that many of the escapades depicted in the film are consistent with Belfort's memoirs and what was written about him in '']'' articles, although some of the ''Forbes''-related content was embellished.<ref name="Time">{{cite magazine| last=Dockterman | first=Eliana | title=''The Wolf of Wall Street'': The True Story | date=December 26, 2013 | magazine=Time | url=https://entertainment.time.com/2013/12/26/wolf-wall-street-true-story/ | access-date=January 14, 2014}}</ref>

Belfort was portrayed by ], who won the ] and was nominated for an ] for his performance. Belfort has a cameo in the closing scene of the film as an ] Straight Line host.<ref>{{cite web|first=Zimbio|last=JJ Duncan |url=https://www.businessinsider.com/how-true-is-the-wolf-of-wall-street-2013-12?r=US&IR=T |title=3 Things That Completely Undermine 'The Wolf Of Wall Street' |magazine=] |date=December 24, 2013 |access-date=June 11, 2022}}</ref>

==In popular culture==
Jordan Belfort was also featured in an episode of '']'' (Season 9, episode 8) called "The Real Wolf of Wall Street".<ref>{{cite web|url=https://www.cnbc.com/video/2018/02/02/american-greed-the-real-wolf-of-wall-street.html|title=CNBC - American Greed episode preview|website=] |date=February 2, 2018 }}</ref>

==See also==
* ]

==References==
{{Reflist|30em}}

==External links==
{{cc}}
* {{Official website|http://jordanbelfort.com}}

{{Authority control}}


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Latest revision as of 09:00, 27 December 2024

American former stockbroker (born 1962)

Jordan Belfort
Belfort in November 2017
BornJordan Ross Belfort
(1962-07-09) July 9, 1962 (age 62)
New York City, U.S.
Alma materAmerican University (BSc)
Occupations
  • Businessman
  • speaker
  • author
Criminal statusReleased April 2006 after 22 months
Spouse Denise Lombardo ​ ​(m. 1985; div. 1991)Nadine Caridi ​ ​(m. 1991; div. 2005)​ Anne Koppe ​ ​(m. 2008; div. 2020)​ Cristina Invernizzi ​(m. 2021)
Conviction(s)Securities fraud, money laundering
Criminal penalty22 months in federal prison, one month in rehab, $110 million in restitution
Belfort's voice On the importance of rapport in business
Websitejb.online

Jordan Ross Belfort (/ˈbɛlfərt/; born July 9, 1962) is an American former stockbroker, financial criminal, and businessman who pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam in 1999. Belfort spent 22 months in prison as part of an agreement under which, becoming an informant for the FBI and wearing a wire, he gave testimony against numerous partners and subordinates in his fraud scheme. He published the memoir The Wolf of Wall Street in 2007, which was adapted into Martin Scorsese's film of the same name released in 2013, in which he was played by Leonardo DiCaprio.

Early life

Belfort was born in 1962 in the Bronx, a borough of New York City, to Jewish parents, Maxwell "Max" Belfort and Leah (née Markowitz). They were both accountants. His paternal grandfather, Jack Belfort (1904–1970), was an immigrant from Russia, while his grandmother was a Second Generation American born to Lithuanian parents in New Jersey. Belfort was raised in Bayside, Queens. Between completing high school and starting college, Belfort and his close childhood friend Elliot Loewenstern earned $20,000 selling Italian ice from styrofoam coolers to people at a local beach.

Belfort went on to graduate from American University with a degree in biology. Belfort planned on using the money earned with Loewenstern to pay for dental school, and he enrolled at the University of Maryland School of Dentistry. However, the dean of the dental school gave a welcoming speech on the first day in which he said, "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." Belfort subsequently elected not to attend the graduate program.

Career

Early ventures

Belfort became a door-to-door meat and seafood salesman on Long Island, New York. He claims in interviews and his memoirs that the business was an initial success; he grew his meat-selling business to employ several workers and sell 5,000 pounds (2,300 kilograms) of beef and fish a week. The business ultimately failed, and he filed for bankruptcy at 25.

According to his memoirs and interviews, a family friend helped him find a job as a trainee stockbroker at L.F. Rothschild. Belfort says he was laid off after that firm experienced financial difficulties related to the Black Monday stock market crash of 1987.

Stratton Oakmont

Belfort founded Stratton Oakmont as a franchise of Stratton Securities, then later bought out the original founder. Stratton Oakmont functioned as a boiler room that marketed penny stocks and defrauded investors with "pump and dump" stock sales. During his years at Stratton, Belfort led a life of lavish parties and intensive use of recreational drugs, especially methaqualone—sold to him under the brand name "Quaalude"—that resulted in an addiction. Stratton Oakmont at one point employed over 1,000 stock brokers and was involved in stock issues totaling more than $1 billion, including being behind the initial public offering for footwear company Steve Madden. The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film Boiler Room (2000), as well as the biopic The Wolf of Wall Street (2013).

Stratton Oakmont was under near-constant scrutiny from the National Association of Securities Dealers (now the Financial Industry Regulatory Authority) from 1989 onward. Finally, in December 1996, the NASD expelled Stratton Oakmont, putting it out of business. Belfort was then indicted for securities fraud and money laundering in 1999.

Belfort became an informant for the FBI and wore a wire against numerous partners and associates, later testifying against many of them. On July 18, 2003, Belfort was sentenced to four years in prison. Belfort served 22 months of the sentence at the Taft Correctional Institution in Taft, California, in exchange for a plea deal with the Federal Bureau of Investigation for running pump-and-dump scams that led to investor losses of approximately $200 million. Belfort was ordered to pay back $110.4 million that he swindled from stock buyers. Belfort shared a cell with Tommy Chong while serving his sentence, and Chong encouraged him to write about his experiences as a stockbroker. The pair remained friends after their release from prison, with Belfort crediting Chong for his new career direction as a motivational speaker and writer. At a motivational talk that he delivered in Dubai, United Arab Emirates, on May 19, 2014, Belfort stated:

I got greedy. ... Greed is not good. Ambition is good, passion is good. Passion prospers. My goal is to give more than I get, that's a sustainable form of success. ... Ninety-five per cent of the business was legitimate. ... It was all brokerage firm issues. It was all legitimate, nothing to do with liquidating stocks.

Federal prosecutors and SEC officials involved in the case, however, have said, "Stratton Oakmont was not a real Wall Street firm, either literally or figuratively."

Restitution

Belfort's restitution agreement required him to pay 50% of his income toward restitution to the 1,513 clients he defrauded until 2009, with a total of $110 million in restitution further mandated. About $10 million of the $110 million that had been recovered by Belfort's victims as of 2013 was the result of the sale of forfeited properties.

In October 2013, federal prosecutors filed a complaint against Belfort. Several days later, the U.S. government withdrew its motion to find Belfort in default of his payments, after his lawyers argued that he had only been responsible for paying 50% of his salary to restitution until 2009, and not since. The restitution he paid during his parole period (after leaving prison) amounted to $382,910 in 2007, $148,799 in 2008, and $170,000 in 2009. After that period, Belfort began negotiating a restitution payment plan with the U.S. government.

The final deal Belfort made with the government was to pay a minimum of $10,000 per month for life toward the restitution, after a judge ruled that Belfort was not required to pay 50% of his income past the end of his parole. Belfort has claimed that he is putting the profits from his U.S. public speaking engagements and media royalties toward the restitution, in addition to the $10,000 per month.

Prosecutors also said that he had fled to Australia to avoid taxes and conceal his assets from his victims, but later recanted their statement, which had been given to The Wall Street Journal, by issuing Belfort an official apology and requesting that The Wall Street Journal print a retraction.

Belfort claimed on his website and elsewhere that he intended to request that "100% of the royalties" from his books and The Wolf of Wall Street film be turned over to victims. But in June 2014, spokesmen for the U.S. attorney said that Belfort's claim was "not factual", and that he had received money from the initial sale of the film rights that was not entirely put toward his restitution repayment.

BusinessWeek reported that Belfort had paid only $21,000 toward his restitution obligations out of approximately $1.2 million paid to him in connection with the film before its release. Belfort has said that the government refused his offer to put 100% of his book deal money toward his restitution.

Cryptocurrency

Belfort was previously a skeptic of cryptocurrency, having called bitcoin "frickin' insanity" and "mass delusion". As he learned more about cryptocurrency, and the prices skyrocketed, he changed his mind. Belfort has declined offers to create Wolf-themed non-fungible tokens despite saying that he "could easily make $10 million". He has also said that he is "massively looking forward to regulation" of cryptocurrency. Belfort is an investor in several cryptocurrency start-ups.

Writing

Belfort wrote two memoirs, The Wolf of Wall Street and Catching the Wolf of Wall Street, which have been published in approximately 40 countries and translated into 18 languages. A film based on his books was released in 2013 starring Leonardo DiCaprio (as Belfort), Jonah Hill, and Margot Robbie; the film was written by Terence Winter and directed by Martin Scorsese.

He wrote his first book in the days following his release from prison (after a false start during his sentence, when he wrote and destroyed 130 initial pages). He received a $500,000 advance from Random House, and before its release, a bidding war began for the book's film rights. The former federal prosecutor who led the criminal investigation of Belfort said that he "invented much", that "he aggrandized his importance and reverence for him by others at his firm", and that, "The real Belfort story still includes thousands of victims who lost hundreds of millions of dollars that they never will be repaid."

In 2017, he went on to write Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success. It details the sales technique he used alongside his team of brokers while operating on Wall Street. In 2023, Belfort released The Wolf of Investing which he claims to be his ultimate strategy for making money on Wall St.

Motivational speaking

Belfort in 2010

Belfort has given motivational speeches. This has included a tour of live seminars in Australia called "The Truth Behind His Success", in addition to other appearances. In a 60 Minutes interview about his new career, Belfort said of his former life that his "greatest regret is losing people's money". He also runs sales seminars called "Jordan Belfort's Straight Line Sales Psychology". When he first began speaking, he focused largely on motivation and ethics, then moved his focus to sales skills and entrepreneurship.

His speaking engagements are run through his business Global Motivation Inc. and, as of 2014, Belfort was spending three weeks of each month on the road for speaking engagements. The main theme of his speeches includes the importance of business ethics and learning from the mistakes he made during the 1990s—such as believing that he was justified in skirting the rules of financial regulators simply because it was a common thing to do. His per-engagement speaking fees have been about $30,000–75,000 and his per sales seminar fee can be $80,000 or more.

The main subject matter of his seminars is what he has called "Straight Line System", a system of sales advice. Some reviewers have reacted negatively to the content of the speeches, specifically Belfort's recounting of stories from the 1990s.

Australian training scandal

An investigation led by 7News and The Sunday Mail uncovered links between Belfort and employment company Career Pathways Australia run by Paul Conquest, who also has majority-ownership of Face to Face Training. These two brands were heavily promoted at Belfort workshops held at Brisbane's Eatons Hill Hotel. Belfort reportedly gave two workshops on Sales for the staff of Face to Face Training.

Face to Face Training received $3.9 million from the state government during FY-2014 and $6.34 million during FY-2015 for its training and assessment services. The majority of this money was expected to be spent on service training and certification which did not happen. 9 News Australia called the training program a scam and the certification program a "tick and flick" in its 60 Minutes segment.

Personal life

Belfort married his first wife Denise Lombardo in 1985. While running Stratton Oakmont, Belfort and Lombardo were divorced. He later married Nadine Caridi, a British-born, Bay Ridge, Brooklyn-raised model whom he met at a party. He had two children with her. Belfort and Caridi ultimately separated following her claims of domestic violence, which were fueled by his problems with drug addiction and infidelity. They divorced in 2005.

Belfort is an avid tennis player.

Belfort was the final owner of the luxury yacht Nadine, which was originally built for French fashion designer and businesswoman Coco Chanel in 1961. The yacht was renamed after Caridi. In June 1996, the yacht sank off the east coast of Sardinia and frogmen from the Italian Navy special forces unit COMSUBIN rescued all who were aboard the vessel. Belfort said that he insisted on sailing out in high winds against the advice of his captain, resulting in the sinking of the vessel when waves smashed the foredeck hatch.

In 2021, a hacker stole $300,000 in digital tokens from Belfort's cryptocurrency wallet.

Politics

In the 1990s, Belfort donated $100,000 to the Republican Party and $2,000 to Al D'Amato's reelection campaign in the 1992 United States Senate election in New York. Despite calling himself "a liberal at heart", with "social views are liberal; abortion and stuff like that", Belfort said that in the run-up to the 2016 United States presidential election, he "became very pro-Trump . . . . And then when I saw what happened after he won, I was like‚ 'this country is worse than I thought!'. There's obviously such a problem with the liberals, I'd never seen anything like it." Ultimately Belfort voted for Donald Trump because he agreed with Trump on government size and immigration policy. Despite his support for Trump he has also acknowledged that Trump's rhetoric is divisive. During the 2020 Democratic primaries, he criticized Bernie Sanders and Elizabeth Warren for policy proposals that would affect financial institutions, saying, "What frightens me about a Bernie Sanders or an Elizabeth Warren is like they think that government is the answer but the policies that they're talking about will literally destroy the fabric of the country."

Works

Nonfiction

Autobiographies
Self-help
  • Way of the Wolf: Become a Master Closer with Straight Line Selling (2017). ISBN 9781501164286.

Adaptations

Filming of Scorsese's adaptation of Belfort's memoirs began in August 2012, and the film was released on December 25, 2013. Time magazine reported that many of the escapades depicted in the film are consistent with Belfort's memoirs and what was written about him in Forbes articles, although some of the Forbes-related content was embellished.

Belfort was portrayed by Leonardo DiCaprio, who won the Golden Globe Award for Best Actor – Motion Picture Musical or Comedy and was nominated for an Academy Award for Best Actor for his performance. Belfort has a cameo in the closing scene of the film as an Auckland Straight Line host.

In popular culture

Jordan Belfort was also featured in an episode of American Greed (Season 9, episode 8) called "The Real Wolf of Wall Street".

See also

References

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