When you listen the name Jordan Belfort, you most likely recall to mind Leonardo DiCaprio. He played Jordan in Martin Scorsese's The Wolf of Wall Street. But many people have no idea that the movie is in line with true occasions. Jordan Belfort is a real person, and he wrote a memoir of the similar identify, explaining the entirety that went on in his crazy existence as a stock market scam artist.
Belfort was once sent to jail, even if he served a discounted sentence of 22 months in trade for ratting out his colleagues who had been in on his company's scams. At the end of The Wolf of Wall Street, after Belfort served his time away, we see him website hosting motivational seminars, which Belfort in fact did in real life. However, the movie did not let us know how badly Belfort's net worth used to be suffering from his criminal activity. Those seminars didn't somewhat allow him to bounce back from the scandal and fill up his net worth. Here's how a lot he's worth these days.
His Net Worth Is Shocking
Belfort told The Red Bulletin in 2019 that he made about a quarter of a million dollars a day at the height of his stockbroking days at Stratton Oakmont. That's $30,000 an hour and $5,000 a minute. Keep in mind that Belfort can have been exaggerating as he's completed in the previous.
Figuring out his total wealth during that time in the '90s is slightly trickier. A 2014 Independent article claims he used to be worth a whopping $93 million at the peak of his stockbroking occupation. If this seems like a small estimation, we should take into account that Belfort beloved spending his cash and living in luxurious. He had all the things that DiCaprio's Jordan had in the film.
What will surprise you is that at best fifty seven years previous, Belfort's net worth is in the damaging millions. It's rare to peer a celeb's net worth so low. According to Beating the Index, Belfort is worth $-100 million. But that is as a result of Belfort used to be ordered to pay $A hundred and ten million in restitution charges to the sufferers of Stratton Oakmont's "pump and dump schemes."
According to 2018 court docket documents, Belfort had reportedly only paid round $12.Eight million since being indicted in 1999. Wealthy Gorilla claims he's paid off about $14 million as of 2021. So he has an extended method to go earlier than his debuts are paid off. At this charge, his great-great-grandchildren will still be paying them.
What Belfort Does Now
Belfort does have some steady-ish source of revenue, but it's no longer enough to pay back his debuts at the speed he could have paid them again when he was once a millionaire. The newsletter of The Wolf of Wall Street, and his 2nd memoir, Catching the Wolf of Wall Street, has helped.
He gained $500,000 in advance for the first memoir and $940,500 for the movie rights to the book. Belfort allegedly claims he gave all of this money to his sufferers, but there is no evidence he ever did.
Belfort could also be a motivational speaker still and charges a hefty charge between $20,000 and $75,000 in step with look. A one-hour speech can price about $20,000, whilst his sales seminars explaining his "Straight Line System" price a whopping $80,000. While this seems to be a lot of money, we must remember the fact that Belfort makes that quantity in line with appearance, not hourly. Which means that he makes this cash on every occasion he has one thing scheduled, that is, if he has something scheduled.
So if you are questioning what the once-millionaire does with his (again) adverse net worth, the resolution is not so much, except paying back those money owed.
But he may have some extra source of revenue very soon. In March, Deadline reported that Belfort is set to host a Discovery+ documentary called GameStop: The Wall Street Hijack, which can apply "the current craze over meme stocks," something that Belfort will for sure have some critiques about. What fans of the video game retailer just lately did with the inventory market is more or less the modern-day Stratton Oakmont.
Not handiest does he have this upcoming gig, however he could additionally potentially win a legal combat with the production corporate that purchased the rights to his book, which has been ongoing since 2015. In January 2020, Belfort sued Red Granite Productions for "fraud, negligent misrepresentation, violation of the RICO Act, breach of contract and breach of the covenant of good faith and fair dealing," Gossip Cop wrote.
The lawsuit got here about after an investigation by way of the Department of Justice discovered that the production company had made the film the use of stolen budget from Malaysia’s executive. Belfort allegedly "sought to void a contract that sold the rights to his memoir in addition to $300 million in damages," and mockingly claimed he would have by no means had made the deal if he'd recognized the movie can be made with dirty cash. He'd put the use of dirty cash at the back of him in the end, and having his e book adapted using such price range could be fraudulent once again.
So if he's awarded $three hundred million in the lawsuit, it would essentially wipe away his outstanding debt and give him a $two hundred million net worth when all is alleged and done. Plus, if he will get out of his contract with Red Granite, he'll have the ability to sell his second memoir and make even more of a profit. If he doesn't win the lawsuit, then it seems like Belfort should continue slaving away to pay the whole lot again for years yet to come. He'll also be the simplest real-life scam artist that DiCaprio has portrayed that did not pop out on top... ultimately. DiCaprio played Frank Abagnale, a con artist famous for check fraud in Catch Me If You Can. Abagnale used to be later picked up through the FBI and helped them in finding guys like him. It doesn't seem like Belfort will be as lucky.
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