The Wolf of Wall Street
Jordan Belfort
Overview
WHAT YOU WILL LEARN
Have you ever wondered how a life filled with ambitions and excesses can lead to a spectacular tale of rise and fall? Dive into the fascinating autobiography of the “Wolf of Wall Street.”
From his humble beginnings to financial heights, his life unfolds like a true rollercoaster of emotions, where each turn reveals a new challenge or triumph. Immerse yourself in this dizzying world, where decisions made in moments of crisis define destiny and sculpt a legend of wealth, power, and redemption.
I realized I had talent, but the margins were very small - Jordan Beltfort
Key Points
The Rise of the Wolf
Jordan Belfort grew up in Queens, New York, in a middle-class family of accountants. From a young age, he became obsessed with the idea of becoming a millionaire and devoted all his efforts to achieving it. At seventeen, he founded a small ice cream business with a friend and worked with such dedication that he managed to save $20,000 in one season. Aware of the importance of investing, he used those funds to finance his college studies. Initially, he leaned towards dentistry, believing it would be a lucrative career, but he abandoned it the day a professor mentioned that the golden age of this profession had ended. Despite this, he graduated in biology.
Climbing to Success
In 1989, along with Kenny Greene, also known as Danny, they opened an office within a friend’s car dealership in Queens. This was the humble beginning of what would later become Stratton Oakmont, Inc. Initially acting as a franchise, the company quickly accumulated enough commissions to acquire the entire Stratton operation for $250,000 in just five months. Greene, as Belfort's right-hand man, retained a 20% stake. They specialized in handling penny stocks, known for their low price, usually less than a dollar, and their high volatility, which made them attractive to speculators.
The Peak of Success
In 1990, his wealth reached millions, which raised alarms among some police officers, although the situation did not escalate beyond mere suspicions. Those who were unaware of stock trading strategies quickly labeled him a fraud and con artist. However, his actions were not illegal. His strategy consisted of applying the same tactics used by Wall Street magnates, but independently. The critical flaw was the lack of legal advice, which triggered a series of lawsuits from dissatisfied investors. Had he had proper legal representation, he would never have faced incarceration. His existence was marked by excess and unrestrained indulgence, including orgies and substance use.
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