Jordan Belfort made incredible amounts of money in the 90s, so how did he actually get rich?
Since he got his start selling meat and fish door-to-door to selling stocks, countless people have given in to his sales skills.
When he was making large amounts of money, he lived an opulent lifestyle and spent money almost as fast as he made it, on cars, mansions, yachts, and 'the good life.'
In 2003, he was convicted of fraud and money laundering following an FBI investigation conducted on him and his brokerage house, Stratton Oakmont.
Belfort and his partner Danny Porush were accused of running a 'pump and dump' scheme where they would inflate stock prices of 'pink sheet', unregulated penny stocks which they secretly owned, then added an additional 50% "service fee" to the shares they brokered. They would then sell their shares before anyone else, which left investors with near-worthless stocks.
His net worth grew to as high as $200 million at his peak.
Belfort served 22 months of a 4-year sentence for the crimes and still owes close to $100 million.