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Jordan Belfort is a man who has seen everything in His relatively young life. He has lived on the good and bad sides of life, although later it was all of his own creation. In the course of these, he served a prison sentence for committing a crime against many people whose lives may never be the same. Despite this, a free man lives today who has paid (and continues to pay) for his misdeeds and presents himself as a changed man. Today we share about Jordan Belfort’s net worth, wife and children.
Although Mr. Belfort could have become famous for not-so-nice things, that’s not all there is in his life and in this piece. We’re going to dig on another aspect of him. His family; wife and children, besides telling you the story of the man called the “Wolf of Wall Street”, his net worth and what led to his well-publicized arrest.
Who is Jordan Belfort?
On July 9, 1962, in the New York district of the BronxCity. The Wolf was born into a Jewish family and was called Jordan Ross Belfort. He grew up in Queens, New York, where he possibly attended high school and graduated before proceeding to study at the American University. In college, he studied biology and earned a bachelor’s degree there. Jordan Belfort then enrolled in the University of Maryland School of Dentistry, where he hoped to train and qualify as a dentist. However, fate had a different plan for him, as he soon left the institution after the discouraging words he received from the dean that “the golden age of dentistry was over.”
Being a business expert person, the eventual author, motivational speaker. And now a former stockbroker began his sales career in Long Island. New York as a seafood salesman in the early 1980s. According to the revelations he made, Jordan stated that the business was quite successful at that time as it had a couple of employees with whom it made sales of approximately 2,300 kg of its merchandise weekly. However, there came a time when things began to go wrong for the business. As it soon declared bankruptcy and closed the establishment.
Still armed with his greatest skill (sales), the former entrepreneur began working at LFRothschild as an internship broker. Not long after his commitment, the company fired him due to the financial difficulties they experienced at that time. However, before he retired, he had learned enough to start his own investment firm called Stratton Oakmont in 1989 with his friend Danny Porush.
Behind what the firm was known in public The domain was a bleak bomb and patterns of trade in unloading shares to inflate the prices of own shares and force them to unsuspecting investors with positive but misleading statements. Such investors often ended up buying the shares at more expensive prices. But soon after they lost their money once the scheme operators abandoned/sold their overvalued shares. Due to this and other fraudulent activities of Stratton Oakmont, the company. And its main operators (Jordan Belfort and others) were constantly under the radar of the Financial Industry Regulatory Authority.
After NASD investigations and the concrete evidence they had, Jordan’s brokerage house collapsed when authorities attacked them.
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What led to his arrest?
Stratton Oakmont, Inc. at that time had more than 1,000 stockbrokers in its payment paper with whom it issued shares totaling up to $ 1 billion in the late 1980s. When the NASD approached its activities, he expelled the company in 1996, which eventually led to the arrest of Jordan Belfort. He was charged with securities fraud and money laundering in 1999. After which he spent 22 months in prison (at the Taft Correctional Institution in Taft, California). He did not turn up to 4 normal years since he accepted in a statement before the Federal Bureau of Investigation to give evidence against other principal and subordinate operators of his fraudulent penny stock company.
While in prison, he was ordered to pay a total of $ 110 million in restitution for his crimes. After paying a total of $ 701,709 from 2007 to 2009, he negotiated a restitution plan with the US government. UU. To pay $ 10,000 per month for life. In addition to this, he affirmed that the profits of his public discourse. And the royalties of the media also entered into restitution.
Jordan Belfort Net worth
Jordan Belfort at its height as co-founder of Stratton Oakmont, Inc. Lived a luxurious lifestyle characterized by elegant parties and drug abuse. The money to maintain such an extravagant life came from the fraudulent profits of his company. In total, its net worth was cited at around $ 100 million.
Since leaving prison where he met Tommy Chong (prison mate), he has been living a different life and now speaks motivationally. Jordan is also the author of the memoirs. The Wolf of Wall Street was published in 2007 and adapted to a movie in 2013. His second book that tells his rise and fall as a stockbroker was followed by the second Catching the Wolf of Wall Street (published in 2009) that described the events of his life after his arrest.
Both books sold well and made a lot of profits. However, the profits were not for Belfort. As it was still indebted to thousands of Americans who invested in their smoke screen brokerage.
Family: wife and children
Jordan Belfort was previously married to Denise Lombard but they divorced and then married Nadine Caridi. Their union, which was formalized in 1981 in the Caribbean, saw the birth of two children; a daughter named Chandler and her brother named Carter.
The marriage between the two turned out to be one that will not last until the “path of death makes them”. As they soon separated after Cardi’s claim that Jordan was physically abusing her. The two separated in 2005 and has remained so since then.