It’s been 10 years since the premiere of Martin Scorsese’s The Wolf of Wall Street, which could be summarized as a 3-hour biopic on cocaine.
Inspired by the rise to money and success and subsequent downfall of former stockbroker Jordan Belfort, the fast-paced movie based on real events stars Leonardo DiCaprio in an energetic portrayal of the infamous conman himself, which earned him an Academy Award nomination – and should have arguably been his first Oscar win. Belfort and his controversial firm Stratton Oakmon – founded in New York in 1989 – made millions on fraudulent penny stock sales, much of which he and his colleagues spent on self-indulgent activities and vices.
Although he’d been under investigation for his shady dealings since the mid-90s, a decade after he’d founded his company, the law finally caught up with him. Belfort was sentenced to four years in prison, of which he served 22 months due to cooperating with authorities to aid in the conviction of some of his former associates.
Discussing Belfort’s prison sentence on Quora, Martin R. Jones, who was also convicted of financial crimes over a decade ago, finished his thoughts on the topic by saying: “Jordan Belfort did not lie. His sentence was around two years because he spilled the beans and wore a wire when meeting with friends/business associates for the government’s benefit and in doing so allowed the government to convict many and get a big win. I can’t say I blame him, he was looking at upwards of 20 years and a sweet deal like the one he negotiated would be very hard for many to turn down.”
True to his personality, Belfort spent his time in prison fruitfully and acquired an interest in writing. His bestselling memoir, The Wolf of Wall Street, was published not long after his release, and it was the same book that led to the adaptation many know about, even if they haven’t seen it.
What was Jordan Belfort’s net worth at its peak?
From Scorsese’s movie, we can tell that at one point Belfort was swimming in cash and enjoying the most lavish, daredevil lifestyle. But how much did he actually have at the highest point in his questionable career? Well, estimates point to numbers close to $400 million the year before he was indicted.
When found guilty of multiple counts of fraud and money laundering, on top of a prison sentence, Belfort was also ordered to pay $110 million in damages to the people he swindled.
Although he was released from prison in 2006, it was reported by multiple outlets in 2018, that Belfort still owed money to his victims, close to a total of $100 million in fact. According to BNN Bloomberg, who reported on the facts in May 2018, Belfort and his lawyer attempted to argue against the amount he was due to restitute. Legal disputes took place due to the money Belfort earned since being freed, in such things like motivational speaking events and his memoir writing. Now, as per the prosecution established, the former Wolf of Wall Street is slowly paying up his debts, $10,000 a month, which he’ll continue paying until the restitution amount is met, and equal that amount from his business speaking events.
What is Belfort’s current net worth?
A man like Belfort has not sat idle since his release. He’s written books, given motivational talks, appeared as a guest in news segments, invested in stocks, real estate, and more. When discussing cryptocurrency, Belfort told CNBC in August 2018: “I was a scammer. I had it down to science, and it’s exactly what’s happening with Bitcoin. The whole thing is so stupid, these kids have gotten themselves so brainwashed.” In a separate interview with the same network, he added “It’s not that Bitcoin’s a scam but its nature allows scams to occur.” Despite having said this in the past, he has been very deep into the world of cryptocurrency for some time now.
Nowadays, Belfort markets himself as a changed man on a path to redeem his image. In his short biography featured on his website, it’s written: “After overcoming all of his past obstacles, his redemption story consists of being recognized as a world-renowned investment guru.” Even Leonardo DiCaprio is willing to lend his image to show support for Belfort. In the actor’s words, which he says in a short video featured on Belfort’s website: “Jordan stands as a shining example of the transformative qualities of ambition and hard work, and in that regard, he is a true motivator.”
It is difficult to pinpoint how much the financial expert actually owns at present. However, it is clear that Belfort is doing just fine. On top of his books’ sales and motivational speeches, he has his aforementioned website wherein he advertises private consulting sessions and individual training programs, like his Straight Line System series, which is presented as “the Gold Standard for sales training.” There are also various merchandise items, from caps to mugs, available for purchase on his site.
In 2020, according to the Hollywood Reporter, Belfort filed a $300 million lawsuit against Red Granite Pictures, the company behind the production of his popular biopic. The reason for suing hinged on the fact that the sales expert alleges he wouldn’t have sold the rights to his memoir had he known how the movie would be funded and what that would mean for his image. Because Red Granite was caught in its own financial scandals, and made to pay $60 million to the US government (as per the Guardian), Belfort has claimed that the contract he’d signed with the production company has been breached as they are not monetizing his rights further likely for fear of backlash. The attorney for Red Granite stated: “Jordan Belfort’s lawsuit is nothing more than a desperate and supremely ironic attempt to get out from under an agreement that for the first time in his life made him rich and famous through lawful and legitimate means.”
Ironic though it might be, Jordan Belfort has apparently made the best out of the past decade and strived to make money through means that are not illegal. On top of all the occupations already listed, Belfort has also invested in legitimate startups and NFT auctions. Needless to say, the multifaceted entrepreneur makes millions each year. However, determining the exact sum of his net worth is no easy feat, as we also cannot be too sure how any income average fairs against any restitution he may still owe.
Many outlets have reported that his overall fortune is upwards of $100 million. His present wealth may be inferior to what he had at his peak, but if Belfort is earning it while on the right side of the law unlike before, it becomes less questionable and more worthy of merit. As long as he pays what he owes, limits his entrepreneurial deeds and financial investments to lawful acts only, and does not stray from his redeeming path, it’s harder to accusingly point the finger at the man who once was the true wolf of Wall Street.