Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Jordan Belfort
Investors and Entrepreneurs

Jordan Belfort: the biography of the real “Wolf” of Wall Street

09.08.2023
2 min read

How Jordan Belfort managed to build a shady business and get away with it

Martin Scorsese’s famous film The Wolf of Wall Street has been widely acclaimed by audiences and critics alike. However, not everyone knows that the prototype of the main character played by Leonardo DiCaprio was a real-life Jordan Belfort.
The trader was born in New York in 1962. His parents taught him from an early age that work was the most important way to achieve wealth. So Jordan started working as a schoolboy. He shovelled snow off sidewalks and sold ice cream on beaches. At the age of 18, Belfort met three sole proprietors who, like him, aspired to great wealth. They started making seashell jewellery and selling it to tourists, earning about US$200 a day. It was not a bad income, especially for young people. The young men also ran a sweet shop.
When it came to choosing a career, Jordan was not guided by skills or dreams but only by which professions earned more. So he decided to become a doctor and enrolled at the University of Washington. After graduating with a degree in biology, Belfort went on to study dentistry. But when he heard that doctors’ salaries were falling, he dropped out without regret.life story of Jordan Belfort

Belfort’s career path

At the age of 23, Jordan got a job as a caterer, but the job did not provide the income he was looking for. So the entrepreneur took the initiative. He negotiated with suppliers for a large shipment of fish, but only on credit. At the same time, Belfort used the money to buy a truck, which enabled him to deliver products to other states. Customers from different regions started to arrive, and Jordan began to increase his purchases. Eventually, however, he wasn’t making enough money to cover drivers’ salaries and suppliers’ debts. As a result, the small business had to close down.
Belford decided to take a different approach to acquiring the wealth he desired. He successfully used his parents’ and personal contacts to get into L.F. Rothschild. However, he only worked there for a few months to obtain his broker’s licence. Jordan set up his own firm, whose main aim was not to build a reputation but to earn high transaction commissions. This meant that nobody at Stratton Oakmont really cared about trying to retain or benefit a customer. Fraudulent trades and manipulation were used, targeting investors and employees alike. The shady profits from the transactions were laundered through another Belfort company, Steve Madden Shoes.
The activities of the broker and his business did not go unnoticed by the security services. In 1998, Jordan was arrested. But Belfort got away with it. He brought in some lawyers he knew. They reduced his sentence from 30 years to 22 months. Moreover, Jordan didn’t waste any time in prison: he published his memoirs, which were used as the basis for the film.

Tags: Investors and Entrepreneurs
0
Previous Post Hilton: the company that changed the hotel management approach Next Post Investment in Latvia showed a decline in 2022

You Might Also Like

John Rockefeller biography
Investors and Entrepreneurs
John Rockefeller: biography of the first dollar billionaire
15.07.2021
Richard Branson
Investors and Entrepreneurs
Richard Branson: Life story of the strangest millionaire
28.09.2020
Lauren Boebert
Investors and Entrepreneurs
Lauren Boebert: gun enthusiast and conspiracy theorist
28.10.2023
Erick Wujcik game developer
Investors and Entrepreneurs
Erick Wujcik and his contribution to the role-playing game industry
16.12.2022
Rafaela Aponte
Investors and Entrepreneurs
Rafaela Aponte: the world’s richest self-made woman
07.05.2024
Who Robert Kiyosaki is
Investors and Entrepreneurs
Robert Kiyosaki: how the loser managed to build an info business empire
12.10.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics