Jordan Belfort Soul trader How the Wolf of Wall Street realised that an old dog can learn new tricks Words TOM GUISE What changed you? <strong>The</strong> first epiphany was when I got sober, in ’97. I’m not saying I’ve never done a drug or had a drink since – I’m no saint – but I don’t abuse anything any more. <strong>The</strong> next was when I got indicted. <strong>The</strong> biggest epiphany wasn’t jail – it was writing my book. I had to examine all the things I’d done. It allowed me to become the man my parents had first sent into the world. I was always a good kid – I just took a left turn at Albuquerque. In September 1998, Jordan Belfort was arrested by the FBI for moneylaundering and securities fraud. You know the story. Maybe you’ve read it in his 2007 autobiography, <strong>The</strong> Wolf of Wall Street, adapted into a feature film by director Martin Scorsese and starring Leonardo DiCaprio as Belfort. It’s a vigorous account of the pitfalls of excessive greed and vice; a cautionary tale or a glorification, depending on who you ask. “‘Glamorises’ is a better word,” says Belfort himself. “Because let’s not mince words: it’s glamorous. But that doesn’t make it right.” In the early ’90s, Belfort’s New York brokerage firm, Stratton Oakmont, fleeced investors of hundreds of millions of dollars in a penny stocks ‘pump and dump’ scheme. He spent 22 months in prison and had to pay restitution. “My only regret is that I lost people money,” he says today. “Everything else, that’s my life.” At 57, Belfort is now peddling a different stock – motivation – and making comparable dough (“$20,000 for a one-hour speech”). “When I was young, I didn’t use that power responsibly. As an older – hopefully wiser – man, it’s important that my message, grounded in ethics and integrity, brings value to people. Used benignly, it’s a wonderful thing.” the red bulletin: You founded Stratton Oakmont at 27. What was the world like to you at that time? jordan belfort: Smaller, a preinternet age – you only knew what you saw on the news. I wasn’t born rich; I thought I should act the way characters in movies did. ‘Rich’ was Dallas, Dynasty, Gordon Gekko… It’s different to what kids value now – everything’s Instagram. At Stratton Oakmont’s peak, how much money were you making? A day? About a quarter million dollars, $30,000 an hour, $5,000 a minute. It wasn’t just me, it was everybody. I had all these kids that had no business earning more than minimum wage, all making a million dollars a year. It was a free-for-all. Moral judgement aside, you clearly possess a talent. What is it? Not being scared to be wrong. I act on my ideas, sometimes to my own detriment. When you’re looking for niches, you see the world in a different way. It’s like a muscle you develop. Most people have the ability to come up with amazing ideas, but they don’t let them blossom, because they know they’ll never act on them. DiCaprio likened your speeches at Stratton Oakmont to Braveheart… I was blessed with the ability to be a motivator. But if you just say to people, “You’re capable of greatness, go out there,” it’s probably bullshit. Most people don’t have a natural ability to do extreme things; I found a system that made them master communicators. I’d say, “I don’t care what you did in the past, or if you’re a loser… I’ll show you how to be infinitely more effective as humans.” Could you have done things differently? Many times. When I first took a bag of money, I rationalised that everyone was doing it. <strong>The</strong> biggest mistake was smuggling money into Switzerland. I thought, “It’s not going to end well.” That’s when the drugs started to cloud my judgement. I lost control somewhere around ’93. You wrote it in prison, right? It was more teaching myself. I ripped up the pages and rewrote the whole thing when I got out. My cellmate was Tommy Chong, from [stoner comedy duo] Cheech and Chong. I’d never have done this if it wasn’t for him. He gave me one piece of advice: if you’re going to write about your life, choose the craziest and the saddest parts – no one wants to read about the mundane. Now they’ve made an immersive show of your story… Like when I lost control of Stratton, the story has grown beyond me. I’m glad people can look at my life and find enjoyment and empowerment. I’m not involved in the show – I sold the rights and I wish them well – but I’m doing a deal on Broadway that would be a different take, a musical. We imagine you’re effective at negotiating royalties… I’m pretty good. But most important is having a great product – if it sucks, you’re not going to make any money. As a different kind of speaker today, give us a pep talk… I’ll give you three tidbits. One, delay your gratification – good things take time. Two, you can’t be half-pregnant when it comes to integrity; either you’re ethical or not, because your line starts to move. And three, learn to communicate and influence; it’s a skill that will change your life. Will you be going to heaven or hell? I’m going to heaven. I’m very proud of the way I live today. I think I’ve paid off my debt, but things probably don’t work that way. <strong>The</strong> Wolf of Wall Street immersive show is on now; immersivewolf.com JULIEN MIGNOT/CONTOUR BY GETTY IMAGES 32 THE RED BULLETIN
“I was making $30,000 an hour, $5,000 a minute” THE RED BULLETIN 33