The story of ‘The Wolf of Wall Street’ is a paragon of falling from grace. At a net worth of $-100 million, Jordan Belfort has more than his reputation to recover. Let us delve more into this:
Career Beginnings
Business seems to have captured the wolf of Wall Street from a young age. His first business venture entailed selling Italian ice with a friend. He made a profit of $20,000. He had intended to use this money to pay for a degree in dentistry.
He began many ventures, including a meat and seafood company. Unfortunately, they all failed. He went into employment and began to work for a brokerage firm, Rothschild. He worked for various firms, ensuring that he learned as much as he could. He became very good at crafting sales pitches.
Stratton Oakmont
He founded Stratton Oakmont in the early 90s. The firm was almost an overnight success. The top management of the company was made up of close friends and family who could keep the company’s secrets. At the peak of success, the company had around 1000 brokers and assets worth over $1 billion. Unfortunately, the drive to make more money resulted in unscrupulous ways.
Pump and dump
Brokers began to aggressively push stocks on clients. The increase in demand caused the stock’s price to inflate. Jordan’s company would sell the holdings of …show more content…
‘The Wolf of Wall Street’ was born. He also penned a sequel, ‘Catching the Wolf of Wall Street’, based on life after jail. His first book was made into a movie with the same title. It was directed by Martin Scorcese and starred Leonardo DiCaprio. Some sources reveal that he has made over $2 million from the rights of the 2 books and the film. Sources reveal that Red Granite productions paid $1.045 million for the rights to his story. This allowed them to make the movie, ‘The Wolf of Wall Street’. Belfort denies making any money from the story. He says that all the proceeds have been signed to the
Career Beginnings
Business seems to have captured the wolf of Wall Street from a young age. His first business venture entailed selling Italian ice with a friend. He made a profit of $20,000. He had intended to use this money to pay for a degree in dentistry.
He began many ventures, including a meat and seafood company. Unfortunately, they all failed. He went into employment and began to work for a brokerage firm, Rothschild. He worked for various firms, ensuring that he learned as much as he could. He became very good at crafting sales pitches.
Stratton Oakmont
He founded Stratton Oakmont in the early 90s. The firm was almost an overnight success. The top management of the company was made up of close friends and family who could keep the company’s secrets. At the peak of success, the company had around 1000 brokers and assets worth over $1 billion. Unfortunately, the drive to make more money resulted in unscrupulous ways.
Pump and dump
Brokers began to aggressively push stocks on clients. The increase in demand caused the stock’s price to inflate. Jordan’s company would sell the holdings of …show more content…
‘The Wolf of Wall Street’ was born. He also penned a sequel, ‘Catching the Wolf of Wall Street’, based on life after jail. His first book was made into a movie with the same title. It was directed by Martin Scorcese and starred Leonardo DiCaprio. Some sources reveal that he has made over $2 million from the rights of the 2 books and the film. Sources reveal that Red Granite productions paid $1.045 million for the rights to his story. This allowed them to make the movie, ‘The Wolf of Wall Street’. Belfort denies making any money from the story. He says that all the proceeds have been signed to the