Jordan Ross Belfort is an American author, motivational speaker, former stockbroker, and convicted felon. He published the memoir The Wolf of Wall Street in 2007, which was adapted into a film with the same name and released in 2013. In 1999, he pled guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room. Belfort served 22 months in prison aspart of an agreement under which he gave testimony against numerous partners and subordinates in his fraud scheme.
About Jordan Belfort in brief
Jordan Ross Belfort is an American author, motivational speaker, former stockbroker, and convicted felon. He published the memoir The Wolf of Wall Street in 2007, which was adapted into a film with the same name and released in 2013. In 1999, he pled guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam. Belfort served 22 months in prison aspart of an agreement under which he gave testimony against numerous partners and subordinates in his fraud scheme. He shared a cell with Tommy Chong while serving his sentence, and Chong encouraged him to write about his experiences as a stock Broker. After his release from prison, Belfort crediting Chong for his new career direction as a motivational speaker and writer. In a motivational talk that he delivered in Dubai, United Arab Emirates, on May 19, 2014, he stated: I got greedy. Greed is not good. Ambition is passion, passion is prospers. My goal is to give more than I get that’s a sustainable form of success… Ninety percent of the business was all legitimate… It was nothing to do with liquidating stocks.
About USD 10 million of the USD 110 million that Belfort’s victims had been recovered by 2013 had been paid towards his restitution as well as his income towards his victims’ restitution. The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film Boiler Room, aswell as the 2013 biopic The Wolf Of Wall Street. The business ultimately failed, as Belfort filed for bankruptcy at 25. He claims in interviews and his memoirs that he grew his meat-selling business to employ several workers and sold 5,000 pounds of beef and fish a week. Stratton Oakmont at one point employed over 1,000 stock brokers and was involved in stock issues totaling more than USD 1 billion, including being behind the initial public offering for footwear company Steve Madden. Belfort developed a lifestyle that consisted of lavish parties and intensive use of recreational drugs, especially methaqualone—sold to him under the brand name \”Quaalude\”—that resulted in an addiction. In 2009, he was ordered to pay back USD 110. 4 million that he swindled from stock buyers.
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This page is based on the article Jordan Belfort published in Wikipedia (as of Dec. 17, 2020) and was automatically summarized using artificial intelligence.
