How Accurate The Wolf Of Wall Street Is To The True Story

The Wolf of Wall Street is based on an elaborate memoir written by Jordan Belfort himself, raising questions about both the book and film's accuracy.

Summary

• The Wolf of Wall Street is based on the true story of Jordan Belfort, a con artist who became famous for his fraudulent actions.
• Belfort's memoir, which the movie is based on, includes some accurate details, such as smuggling money into Swiss banks and sinking a yacht.
• However, several real-life figures have disputed the accuracy of the events depicted in the movie, suggesting that Belfort may have exaggerated or fabricated certain elements to suit his own narrative.

Martin Scorsese's The Wolf of Wall Street is based on the true story of the infamous rise and fall of con artist Jordan Belfort. Belfort took the world by storm after the 2013 release of Scorsese's film and inadvertently became a representation of modern capitalism at its best and worst. The dramatized version of events depicted in the movie ring mostly true to the 2007 memoir of the same name. The memoir was written by the exuberant and self-congratulating Belfort who described many of the plot points from his own recollection of his personal life.

The financing of the film itself ironically led to its own The Wolf of Wall Street real-life fraud allegations which uncannily resembles the plot and main character of the movie. Since Belfort is literally famous for being a manipulative, self-interested con man, it's plausible that his memories and anecdotes of the events depicted in The Wolf of Wall Street movie and book are flawed and exaggerated to suit his 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

There are several key details in Scorsese's The Wolf of Wall Street that have been confirmed to be true based on Belfort's representation of himself and his brokerage firm Stratton Oakmont in his memoir. According to the memoir, Belfort actually had his in-laws smuggle money into Switzerland banks, Stratton Oakmont actually helped make the luxury shoe line Steve Madden go public, and he was inspired by his first boss on Wall Street Mark Hanna (Matthew McConaughey) who subscribed to the crude philosophy that the key to success was masturbation, cocaine, and prostitutes.

Other details in the movie that were accurate to Belfort's debaucherous memoir include: Donnie Azoff (inspired by the real-life Danny Porush, played by Jonah Hill in the movie) actually did marry his cousin before later divorcing her, Belfort actually sunk a yacht in Italy that was once owned by Coco Chanel, and he really did crash his helicopter trying to land while he was high. Most notably, Belfort truly did serve a reduced prison sentence after ratting on his friends. He did not try to save Porush (Azoff) from incriminating himself as is displayed in the film. He ratted on Porush in real life.

Wolf Of Wall Street's Accuracy Has Been Disputed By Key Figures

The film depicts Belfort in a light akin to Robin Hood like someone that was only stealing money from the rich who don't know any better they were being scammed. According to the New York Times, Belfort targeted people from all types of financial backgrounds into buying his worthless stocks. One California man used his home equity line of credit to invest with Belfort and has been impacted financially ever since. The depiction of Belfort in Scorsese's movie as being some type of voice of an underprivileged class who was righteous in turning the system on its head and against itself is a complete stretch.

The real-life Donnie and Naomi also dispute a lot of what happens in both Jordan's memoir and Scorsese's movie. Nadine Macaluso (Naomi in the film) claimed that the movie was mostly accurate through Jordan's perspective, but not through an objective lens or with consideration to Nadine's point of view with regard to their marriage. Nadine went on to get a Ph.D. and became an expert in relational trauma (via The Independent). Danny Porush told Bustle that most of the film is completely fictitious, 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.

Why Wolf Of Wall Street's Accuracy (Or Otherwise) Is Part Of Its Legacy

The glorification of the debauchery surrounding Belfort's lifestyle and business practices is suitable to the mystique around whether or not the film depicts real events. This disparity in what is actually true in the movie and memoir versus what other real-life parties have to say about fabrications is part of its reckless and dysfunctional appeal. Even 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.

Source: The New York Times, Time, The Independent, Bustle