Jordan Belfort was always interested in making money. Early on, Jordan and a friend sold Italian desserts in which they makde $20k. After a quick stint in college, Jordan started work as a door-to-door salesman in Long Island, but went bankrupt after the competition saw how quickly he grew his operations.
This was the beginning of the end for Jordan as his next target was the stock market. Jordan started Stratton Oakmont, an "over-the-counter" stock brokerage. The company quickly started getting into illegal stuff like pumping and dumping stocks. His sales team would cold call investors, get them to buy whatever stock, then the company would sell the stock for a huge profit.
In 1992, the SEC caught wind of what Jordan and his company was doing. In 1996, the company settled with the SEC and he was banned from the securities industry for life. Jordan also served almost two years in jail because of his shenanigans.
Jordan Belfort aka the real Wolf of Wall Street is now an author and motivational speaker who teaches across the world his ethical persuasion technique. Jordan recently took the time to talk to Yahoo Finance about the GameStop Frenzy.
"If you want to be rich, you must never give up. Most people will give up. If you have persistence then you will finish above most people. More importantly, you will learn. When you do something, you might fail. But that's not because you're a failure. It's because you have not learnt enough. Do it differently each time. One day, you will do it right. Failure is your best friend" - Jordan Belfort
Video Source:
https://www.youtube.com/c/YahooFinance/videos
▶️ 3Speak