As of 2024, Jordan Belfort’s net worth is estimated to be negative $100 million, largely due to the massive financial restitution he still owes to the victims of his fraudulent activities at Stratton Oakmont, the brokerage firm he founded in the early 1990s.
Known as the Wolf of Wall Street, Belfort’s story is one of a meteoric rise in the world of finance, followed by a dramatic fall from grace.
The Rise and Fall of Jordan Belfort
Jordan Belfort initially made his fortune by running a firm that orchestrated “pump-and-dump” schemes, defrauding thousands of investors out of hundreds of millions of dollars.
At the height of Stratton Oakmont’s success, the firm managed over $1 billion in investments and employed over 1,000 brokers.
Belfort, living a life of excess, indulged in expensive yachts, cars, and parties. However, his fraudulent activities eventually caught the attention of regulators, and in 1999, he was arrested and later convicted of securities fraud and money laundering.
In 2003, Belfort was sentenced to four years in prison, though he served only 22 months after cooperating with the government as an informant. He was also ordered to pay $110 million in restitution to the 1,513 victims of his fraud.
The “Wolf of Wall Street” Legacy
Belfort’s story gained global attention with the release of his memoir The Wolf of Wall Street (2007), which was later turned into a film directed by Martin Scorsese in 2013, starring Leonardo DiCaprio.
Despite the portrayal of Belfort as a charismatic and savvy stockbroker, the film and his memoir gloss over the devastating financial and emotional toll on the victims of his schemes.
While the movie and book brought Belfort significant fame, much of his wealth has been made post-prison through speaking engagements and writing.
He charges between $30,000 to $75,000 per speaking appearance and has continued to sell books, including Way of the Wolf, which focuses on sales and business tactics.
Restitution and Financial Struggles
Despite his post-prison reinvention, Belfort still faces significant financial challenges. He was ordered to pay 50% of his earnings to his victims, but his payments have been inconsistent.
Though he sold the rights to his memoirs for over $1 million, he has only repaid about $13 million of the $110 million restitution. Much of the money he has repaid came from the sale of assets, including his luxury mansion.
In 2018, the U.S. government took Belfort back to court for failing to pay the restitution from his speaking fees.
He continues to face legal and financial pressures, and the government has adjusted his restitution plan to require him to pay at least $10,000 per month for life. However, as of 2024, Belfort still owes roughly $100 million to his victims.
