The 2013 film The Wolf of Wall Street is based on the true story of New York stockbroker Jordan Belfort and his associates at Stratton Oakmont — but the real events behind the movie are even wilder than what was on screen.
The 2013 film The Wolf of Wall Street is based on the life of Jordan Belfort, the founder of the brokerage house Stratton Oakmont who ran a years-long securities fraud scheme that lost his investors up to $200 million. The movie details the outrageous lifestyle of Belfort and his associates — but the true story of The Wolf of Wall Street is even wilder than the events depicted on screen.
Just like his character in the film, played by Leonardo DiCaprio, Belfort made a lot of money by ripping off a lot of people, which eventually landed him in prison. However, Belfort’s story isn’t the only one told in the film. Events from the lives of his friends, family members, and business partners are depicted as well — and many of them are true, too.
Danny Porush — the man Jonah Hill’s character Donnie Azoff is partly based on — has called Belfort’s memoir, which inspired the movie, “a distant relative of the truth.” However, he’s also admitted that many of the more unbelievable scenes in the film actually happened.
So, how does the true story of The Wolf of Wall Street really compare to the movie?
Jordan Belfort, The Real Wolf Of Wall Street
Jordan Belfort, the titular “Wolf of Wall Street,” is a former stockbroker and current motivational speaker whose life of excess and fraudulent activity became the central focus of Martin Scorsese’s 2013 film, which was, in turn, based on Belfort’s autobiography of the same name.
ZUMA Press, Inc. / Alamy Stock PhotoJordan Belfort, the real-life Wolf of Wall Street, giving a talk at Madison Square Garden in 2017.
Born on July 9, 1962, in the Bronx, the man behind the true story of The Wolf of Wall Street grew up in a modest family. He exhibited entrepreneurial traits early on, selling Italian ice on the beach to fund his college education.
Belfort attended American University, where he studied biology with aspirations of becoming a dentist. However, he left dental school after the first day when the dean remarked that the career was no longer a path to wealth. Belfort then pivoted to sales, selling meat and seafood door-to-door on Long Island, where he honed his bargaining skills.
After his business went bankrupt, Belfort began working as a trainee stockbroker at L.F. Rothschild. Around this time, he met Danny Porush and sold him on the idea of entering the stock trading business together — and with that pitch, Stratton Oakmont was born.
Founded in 1989, Stratton Oakmont operated as a boiler room, using high-pressure sales tactics to defraud investors out of millions of dollars. Belfort and his associates would inflate the prices of penny stocks and then sell their own holdings at a profit, a practice known as a “pump and dump” scheme. This allowed them to rake in vast sums of money while leaving investors with worthless shares.
The extravagant lifestyle Belfort led during his time at Stratton Oakmont is well-documented. He lived in a mansion, drove luxury cars, and threw lavish parties. His drug use was rampant, and he famously indulged in Quaaludes and cocaine, among other substances.
Belfort’s personal life was equally tumultuous. His first marriage to Denise Lombardo ended after he cheated on her with the model who would become his second wife, Nadine Caridi. Granted, things had already been strained due to Belfort’s drug use and partying. But his relationship with Caridi was hardly any better. The marriage was marred by Belfort’s continued drug abuse, infidelity, and violent, abusive behavior.
Paramount PicturesLeonardo DiCaprio as Jordan Belfort in The Wolf of Wall Street.
Belfort’s criminal activities did not go unnoticed by authorities, however. In 1999, he was indicted for securities fraud and money laundering. He agreed to cooperate with the FBI, providing information that led to the convictions of several of his colleagues. In 2003, he was sentenced to four years in prison, but he served only 22 months. Belfort was also ordered to pay $110 million in restitution to defrauded investors.
After his release from prison, Belfort reinvented himself as a motivational speaker and author. His memoir, The Wolf of Wall Street, was published in 2007 and became a bestseller — and went on to serve as the source material for the 2013 film.
Today, Belfort continues to give speeches and seminars on sales techniques, entrepreneurship, and the dangers of unethical behavior. Belfort has attempted to position himself as a reformed character, but he remains a controversial figure, with many questioning the sincerity of his transformation.
