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Jordan Belfort

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Submitted By business36
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Behind the Lies of Jordan Belfort

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Jordan Belfort built one of the most powerful brokerage firms anyone has every seen. His tactics weren’t always ethical but his leadership skills were out of this world. He gained the trust of over 1,000 stockbrokers and was involved in stock issues totaling more than 1 billion dollars (Biography.com, 2014).

Introduction Sex, money, and drugs… Society being its own worst enemy, a young man named Jordan Belfort saw an opportunity to pursue one of the most incredible business ventures in the history of Wall Street; hence the nickname “Wolf of Wall Street”. The American dream of a luxurious lifestyle was quickly turned into reality for Jordan Belfort and his close-knit team, which in collaboration built the famous empire of Stratton Oakmont. Starting out owning just over 50% of the company, in 1989 Jordan partnered with a man by the name of Kenneth Greene who received 20% of Stratton (Khalaf, 2014). These two shared a collective aspiration in creating the biggest penny stock firm there was to date. Shortly after, they decided the margins weren’t big enough to grow the company on a corporate level and begin selling stocks to the wealthier percentage of Americans. Starting in the garage of a friends used car dealership, this corporation ran on all cylinders with the understanding of pumping and dumping stocks. (Biography.com, 2014). Keep in mind when a stockbroker sells a stock to an investor, the stock is sold at market rate; in Belfort’s case, Stratton was pushing stocks already bought by the firm giving the stocks a false face value for the investor of rising rates. Once all the stocks were sold they would almost immediately lose all value reverting to its original market worth.
Stratton Oakmont over the span of 7 years employed over 1,000 stockbrokers, which

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