Jordan Belfort, known universally as the real 'Wolf of Wall Street', has revealed how he managed to blow an eye-watering $2.5 million in one month.
The famous stockbroker founded Stratton Oakmont in 1989 and became rich by training brokers to pressure people over the phone to buy speculative, often worthless, penny stocks.
His 'pump-and-dump' scheme, well documented in Martin Scorsese's 2013 film, artificially promoted stocks, inflated the prices then sold out, leaving investors with losses when the prices collapsed.
In the 90s, National Association of Securities Dealers (NASD) flagged the firm’s behavior and Stratton was eventually expelled by the NASD in 1996.
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Three years later, Belfort plead guilty to charges of securities fraud and money laundering, and was sentenced to four years in federal prison, along with an order to pay around $110 million in restitution to the people he defrauded.
After only serving 22 months before being released, he wrote the memoir The Wolf of Wall Street and became a motivational speaker and business trainer.
In a clip recently shared on Belfort's TikTok page, the entrepreneur answered a question about the most he's ever spent in a month.
"Well, there was one month I went absolutely hog wild. I think the total was somewhere around $2,500,000 in a month," Belfort said.
How Jordan Belfort spent $2.5 million in one month
"To start, I lost a million dollars gambling in Vegas. Not a good way to f**king start a month," he revealed.
"I spent, I think, $150,000 on dinners, big $300,000 on private jets. I was flying everywhere."
Belfort said he also rented a yacht for $200,000 for ten days, where he had 'some rare bottles of wine' on board.
"I mean, we were just doing nutty shit," he continued.
"I probably launched $100 bills, probably 10,000 of those into the ocean.
"$10,000 worth of $100 bills on bottle rockets. Right?"
The former broker acknowledged that 'I think I lost my mind there'.
Despite splurging such an amount in a single week, he remained convinced that the best way to make money in today's world is to be good at selling stuff.
Fans will, of course, be thinking back to the famous 'sell me this pen' scene.
"But here's the deal. You know how I was able to do all that? By being a closer," he said.
"By knowing how to sell. Single most important skill bar none when it comes to earning big money."
Topics: US News, TV and Film, Money, Film, TikTok
Anish Vij