Introducing “Jordan Belfort” The Real Wolf Of Wall Street
“Jordan Belfort” The Real Wolf Of Wall Street (Interview Above)
Jordan Ross Belfort was born July 9, 1962 (Cancer) is an American author, motivational speaker, business mogul, and former stockbroker. In 1999, he 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.
He published the memoir The Wolf of Wall Street, which was adapted into a film and released in 2013.
Belfort was born in 1962 in the Bronx borough of New York City to a Jewish family. His parents Leah and Max Belfort are both accountants. He 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, the oldest dental school in the United States; however, he left after the dean of the school said to him on his first day at the college:
“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.”
Stratton Oakmont Venture
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 the “pump and dump” type of stock sales.During his years at Stratton, Belfort developed a lifestyle that consisted of lavish parties and intensive recreational use of 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 US$1 billion, including being behind the initial public offering for footwear company Steve Madden Ltd. 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 2013 biopic The Wolf of Wall Street.
The National Association of Securities Dealers (now the Financial Industry Regulatory Authority) began pursuing disciplinary actions against Stratton Oakmont in 1989, culminating in its permanent shutdown in 1996. Belfort was then indicted for securities fraud and money laundering.
Belfort served 22 months of a four-year sentence at the Taft Correctional Institution in Taft, California in exchange for a plea deal with the Federal Bureau of Investigation for the pump-and-dump scams which he ran that led to investor losses of approximately US$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.
Belfort’s restitution agreement required him to pay 50% of his income towards restitution to the 1,513 clients whom he defrauded until 2009, with a total of $110 million in restitution further mandated. About $10 million of the $11.6 million (USD) that had been recovered by Belfort’s victims as of 2013 was the result of the sale of forfeited properties.
Belfort Personal life
During his time running the Stratton Oakmont business, Belfort divorced his first wife Denise Lombardo. 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 became separated following her claims of domestic violence which were fueled by his problems with drug addiction and affairs with other women. They divorced in 2005.
Belfort was the final owner of the luxury yacht Nadine which was originally built for 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 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.
As of 2015, Belfort is engaged to his long-time partner Anne Koppe. Belfort is also an avid tennis player.
His new book “Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success” was released September 26th 2017
Official Bio Source: Wiki/Jordan_Belfort
Official Website: Jordanbelfort.com
Live Interview & Book Signing (Bonus)