Martin Scorsese’s The Wolf of Wall Street is based on the true story of the infamous rise and fall of American stockbroker and criminal Jordan Belfort. Leonardo DiCaprio plays Belfort in the movie, exploring his outrageous lifestyle, the various figures in his life, and the crimes that led to his downfall. The dramatized version of events depicted in the movie rings mostly true to the 2007 memoir of the same name. However, there are a lot of criticisms of how Belfort depicts himself and the truth, including from people featured in The Wolf of Wall Street.
The real Jordan Belfort of The Wolf of Wall Street story has been called a manipulative conman by many, so it’s plausible that his memories and anecdotes of the events depicted in the movie and book are flawed and exaggerated to suit his allegedly inflated self-image. A number of real-life sources have spoken out about the inaccurate depiction of events in Belfort’s story, hinting that Belfort’s fraudulent sensibilities might have fooled Hollywood as they did on Wall Street.
The Wolf Of Wall Street Is Accurate To Jordan Belfort’s Memoir
Various Successes And Failures Depicted In The Movie Came From Belfort’s Own Admission
Several key details in Martin Scorsese’s The Wolf of Wall Street have been confirmed as accurate based on Belfort’s representation of himself and his brokerage firm, Stratton Oakmont, in his memoir. According to the memoir, Belfort had his in-laws smuggle money into Swiss banks, and Stratton Oakmont played a significant role in helping the Steve Madden luxury shoe line go public. The depiction of Matthew McConaughey’s The Wolf of Wall Street character Mark Hanna is also based on Belfort’s description, including Hanna’s crude philosophy.
Other details in the movie that were accurate to Belfort’s memoir include: Donnie Azoff (inspired by the real-life Danny Porush, played by Jonah Hill in the film) married his cousin before later divorcing her. Belfort sunk a yacht in Italy that Coco Chanel once owned, and he crashed his helicopter trying to land while he was high. Belfort also served a reduced prison sentence after informing on his friends. He did not try to save Porush from incriminating himself, as the film showed, informing on Porush in real life.
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Scenes in The Wolf of Wall Street Accurate To Jordan Belfort’s Memoir |
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Belfort’s in-laws really smuggled money into Switzerland banks |
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Stratton Oakmont really made luxury shoe line Steve Madden go public |
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The depiction of Matthew McConaughey’s character, Mark Hanna |
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Donnie Azoff really married his cousin (he later divorced her) |
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Belfort really sunk a yacht in Italy that was once owned by Coco Chanel |
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Belfort really crashed his helicopter while high |
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Belfort really served a reduce prison sentence for informing on his friends |
Wolf Of Wall Street’s Accuracy Has Been Disputed By Key Figures
The Depiction Of Belfort’s Crimes Has Become A Controversial Topic For The Movie
The Wolf of Wall Street has been criticized for how much it downplays the victims of Belfort’s crimes, and it largely focuses on him ripping off the wealthy. According to The New York Times, Belfort targeted people from all types of financial backgrounds to buy his worthless stocks. One California man used his home equity line of credit to invest with Belfort and has been financially impacted ever since (via New York Times).
Danny Porush told Bustle that most of the film is completely ficтιтious, claiming that nobody in real life ever called Belfort the “Wolf” nor was there any throwing of little persons or chimpanzees that took place in the office.
The depiction of Belfort in Scorsese’s movie as a voice for an underprivileged class, righteous in turning the system against itself, has been debated since the film’s 2013 release. The real-life Donnie and Naomi also dispute a lot of what happens in both Jordan’s memoir and Scorsese’s movie.
Nadine Macaluso, who is represented by the character Naomi, played by Margot Robbie in The Wolf of Wall Street, claimed that the movie was mainly accurate from Jordan’s perspective, but not from an objective lens or with consideration of Nadine’s point of view regarding their marriage. Nadine went on to get a Ph.D. and became an expert in relational trauma (via The Independent).
Why Wolf Of Wall Street’s Accuracy (Or Otherwise) Is Part Of Its Legacy
Does The Movie Glorify Jordan Belfort?
The glorification of the debauchery surrounding Belfort’s lifestyle and business practices is fitting to the mystique surrounding whether the film depicts real events. This disparity between what is actually true in the movie and memoir and what other real-life parties have to say about the fabrications is part of its reckless and dysfunctional appeal.
Even Martin Scorsese himself came under fire for celebrating the corrupt actions of the bonafide con artist in his film, which is meant to be seen as an overarching satire of capitalism rather than a stamp of approval for Belfort. Regardless of its degree of accuracy, The Wolf of Wall Street is a wildly entertaining exercise on limitless greed.
How Jordan Belfort’s Life Has Been Changed By The Movie’s Legacy
Belfort Has Become More Famous Thanks To Scorsese’s Movie
While Jordan Belfort’s past crimes helped him make a name for himself after his time in prison, Martin Scorsese’s movie has further raised the man’s profile. In the years following the release of The Wolf of Wall Street, Belfort has become more well-known as a pop culture figure, and he continues to capitalize on the movie’s success in his personal life.
Jordan Belfort’s net worth in 2024 might be significantly less than what he was making at the peak of his criminal activity. However, he is still amᴀssing a fortune thanks mainly to his career attending speaking engagements. Much like the movie itself, it has been debated whether Belfort’s speeches took responsibility for his crimes or celebrated the debaucherous lifestyle he participated in.
Since the release of the movie, Belfort has released two books: 2017’s Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success and 2023’s The Wolf of Investing.
In 2020, Belfort sued the producers of The Wolf of Wall Street for fraud, asking for $300 million in compensation. Belfort maintained that the producers of the company Red Granite were involved in a multi-million-dollar embezzlement scheme and used stolen money to buy the movie rights to his story. As of the lawsuit’s filing in 2020, there has been no news on the case.
The Wolf Of Wall Street’s Accuracy Actually Doesn’t Matter
The Film Is Meant As A Dark Comedy
If there is any movie that has a reputation that it might not deserve, it is The Wolf of Wall Street. The main problem with its reputation is that many people have accused Martin Scorsese of glamorizing the greed and corruption existing in Jordan Belfort’s life. However, this movie has nothing to do with glamorizing Belfort’s crimes; it is instead a dark comedy about the ideals of greed and wealth in a society that seems oblivious to the problems they cause.
This film is similar to American Psycho, which is not a movie that glamorizes serial killers, but one that mocks the ultra-wealthy and their ideas of what success means. This is why the accuracy of Belfort’s real-life story doesn’t matter. No one cares if he did everything the movie showed, or if he was worth as much as it indicated. Jordan Belfort, in The Wolf of Wall Street, is a clown, and the film shows how he remained clueless about his downfall, even as it began to crumble around him.
Source: The New York Times, Time, The Independent, Bustle
