Entrepreneur of the Week: Jordan Belfort

Entrepreneur of the Week: Jordan Belfort
Money
Like Us On Facebook
Like Us On Facebook

There are very few inspirational stories left in the world. Fortunately, we have come across one man who sustained his rags to riches success; he learned to master his skills and utilized his ambition, passion and dedication. This gentleman defines the concept of entrepreneurship and the team, at Elite Daily, praises him as a great inspiration. The man we are spotlighting is Jordan Belfort, and this is his story.

Belfort was born and raised in Queens, New York. After graduating from college, he had already accumulated a tremendous amount of debt due to a company start-up failure. Jordan subsequently decided to take the General Securities Representative Exam, and he immediately began working as a stock broker on Wall Street. He started off functioning as the “cold caller,” but his boss continually reminded him that he could never make it in the stock world. Belfort definitely felt as though he was being thrown into the lion’s den, but he decided to take up the challenge against the Wall Street animals.

Fast forward five years, Jordan already opened up his own firm, Stratton Oakmont; Oakmont served as a boiler room brokerage firm. The man elevated himself from his debts and headed one of the leading brokerage firms in the country. As owner and founder, Belfort employed over a 1,000 stockbrokers, and the firm handled stocks issues totaling over $1 billion.

As his professional career had progressed, Jordan strategized the development of different formulas to manipulate stocks. He invented the classic “pump and dump” which involved him to inflating a company’s public stock through false research and selling the cheap stocks at a much higher rate. Stratton Oakmont, stationed in Long Island, transformed into one of the most outlandish “boiler rooms” the finance industry had ever seen.

Employees would earn over $200k/year, and all drove luxury vehicles including Mercedes, Ferraris, and Bentleys. Belfort coordinated an operation that grossed hundreds of millions of dollars, and his colleagues fell in love with his rags to riches success. He demonstrated his ability to be a natural leader, and charmed others with his charisma and ambition.

One little known fact lies in Belfort’s relationship with Steve Madden. Jordan held responsibility for raising Steve Madden’s equity and increasing their sales revenue. At one point, he even served as COO of Steve Madden; he managed to transform Steve Madden from a small time shoe maker into a popular consumer brand.

With years of success under his belt, Jordan started to celebrate his new found fortune like any another well established entrepreneur. Having gone through trials and tribulations in his personal life he married super models and also proclaims his affinity for company of escorts. His memoirs have such outlandish stories that even include his exploits and drug use, even once having a hooker place a candle in his rectum to help stimulate him.  The man spent all of his money like no tomorrow, constantly indulging in the best that the world had to offer.

Jordan also enjoyed traveling, especially yachting in international waters. His memoirs also detail his account of his fifty meter yacht sinking off the coast of Italy, because he refused to listen to the captain’s orders on setting sails during extremely high waves and wind speeds.

After all of his success and tumultuous partying, Belfort felt comfortable enough to depart his company and retire in peace. However, his retirement did not end in complete peace, because all of his public controversies made him a target for the FBI. By 1998, the entrepreneur faced federal charges on securities fraud and money laundering; he eventually served 22 months in a federal prison. In addition, Belfort paid the United States government $100 million dollars in fines.

Presently, Belfort makes just under $20 million dollars a year through the success of his book, The Wolf of Wall Street. He also works as a motivational speaker and sits on the board of several public companies. Once again, Jordan managed to achieve success after losing everything; he again defines the meaning of an entrepreneur. Although he fell to the feds, we applaud Jordan Belfort for his rag to riches story and for enjoying life in the most elite way.

Belfort’s story has sparked much praise amongst Hollywood. Martin Scorsese has signed back onto the production of The Wolf of Wall Street, starring Leonardo Dicaprio as Jordan Belfort. We have a tremendous amount of respect for Mr. Belfort because of his ability to constantly persevere through the obstacles and demons he had to face in his professional and personal life. Any man who can recreate his success in a multitude of industries is worthy of being called Elite.

Elite.

Share Tweet
React

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In Money

Money Paul Hudson

Lonely At The Top: 9 Reasons Why Entrepreneurs Can Only Rely On Themselves

Entrepreneurs are the modern-day warriors, generals of the global commerce battlefields. They have more enemies than they can count and unfortunately most of them are wearing their very own colors. The life of an entrepreneur is a very difficult one – always. There are no exceptions. There is, however, one philosophy that can and should […]

Money Paul Hudson

The Fine Line Between Being Passionate And Being Crazy

I’m not entirely sure if I’m the best person to be writing on the topic seeing as how I’m not completely convinced of my sanity. But then again that may very well make me the best candidate for the job. The difference between being passionate and being crazy is often hazy at best. The most […]

Strategy Leyla Abdullayeva

The Truth About Intelligence: Is It Genetically Inherited Or Earned?

According to the dictionary, intelligence is the ability of acquiring and applying knowledge and skills. However, it’s not that simple, since intelligence is a notion that is often misunderstood. Some people believe that intelligence is the knowledge you gain through education, while others believe it has nothing to do with education, but it is the […]

Money Paul Hudson

How The Greatest Minds In The World Make The Least Amount Of Decisions

Entrepreneurs are professional decision makers. The decisions we make affect not only ourselves, but the entire company: the people who work for us, and the customers we serve. The same goes for anyone who can be dubbed a leader. Now, I’m going to let you in on a little secret. Human beings are intrinsically leaders. […]

Money Susy Alexandre

How Gen-Y Is Creating A New Norm To Deal With A Tough Job Market

“Good on paper” doesn’t just refer to how your Friday night date stacks up on the roster. To be good on paper when it comes to a career, is to have relevant experience in the workplace, a well-rounded list of extracurricular activities, a degree in the field, some techy credentials and previous internship experience, amongst […]

Also On Elite

Technology

Hackers Control ATMs By Text Message And Distribute Money As They Please

Hacking an ATM via SMS? Bond, James Bond. Or Mexican hackers — either/or. Bloggers at Symantec recently uncovered an unsettling trend taking hold in Mexico. The process is a little tech-y, but unfolds thusly: Hackers physically break into an ATM and infect the machine with a known type of malware called Ploutus. The malware enables […]

World

The #aftersex Selfie Is The Most Regrettable Trend To Hit Instagram (Photos)

Talk about a TMI — while the number of #selfies might be reaching new highs, the #aftersex selfie trend is definitely a new low in oversharing. For reasons I totally can’t understand, couples are taking photos of themselves cuddling post-coitus. And while you might think the whole flush-faced, sex-hair look is good for your and […]

TV

Get Ready For ‘Girl Meets World’ With Its Very First Trailer

OH. MY. GOD. If you thought you were excited for the “Boy Meets World” spinoff, “Girl Meets World,” just wait until you watch this new teaser trailer. “Teaser” being the operative word, since the clip is only a total 0f 30 seconds, but that is just enough time to have all our wonderful and joyous […]