Introduction
Danny Porush is an American businessman and entrepreneur. He is the co-founder of Stratton Oakmont, a now-defunct Long Island, New York-based brokerage firm, as well as the current CEO of Meditech Laboratories, a pharmaceutical company. Porush has been featured in several books and films, including the best-selling book The Wolf of Wall Street by Jordan Belfort, on which the 2013 film of the same name was based. In this article, we take a look at Danny Porush’s net worth in 2022 and how he has amassed his fortune.
Danny Porush Net Worth
Danny Porush is an American businessman and convicted felon. He co-founded Stratton Oakmont, Inc., a now-defunct boiler room brokerage firm that was involved in pump and dump stock fraud. In 2003, Porush was sentenced to 39 months in prison and ordered to pay $200 million in restitution for his role in the stock fraud scheme.
As of 2021, Danny Porush has a net worth of $100 million. He made his fortune by founding Stratton Oakmont and by investing in real estate.
Danny Porush Age
Danny Porush was born on June 20, 1954 in Brooklyn, New York City, to a Jewish family. He is the co-founder of Stratton Oakmont and served as its president from 1987 until 1996. In 2003, Porush was sentenced to 39 months in prison for securities fraud and conspiracy.
Porush was born to a Jewish family in Brooklyn, New York City. He attended Yeshiva University High School for Boys before transferring to South Shore High School. Porush graduated from CUNY Queens College with a degree in accounting.
In 1987, Porush and Jordan Belfort founded Stratton Oakmont, an over-the-counter brokerage firm that engaged in penny stock manipulation and boiler room practices. The company grew rapidly, employing more than 1,000 people at its peak. In 1996, Porush and Belfort were indicted on federal charges of securities fraud and money laundering; they pleaded guilty and were each sentenced to four years in prison.
Porush was released from prison in 2000 and currently resides in Boca Raton, Florida with his wife Rebecca. He has three children: two sons named Brandon and Dylan, and a daughter named Samantha.
Danny Porush Biography
Danny Porush was born in Brooklyn, New York, on May 20, 1954. He is the son of Sol and Ida Porush. His father was a successful businessman who owned a chain of men’s clothing stores called Bigsby’s.
Porush attended Far Rockaway High School in Queens, New York. He was a good student and played football for the school team. After high school, he enrolled at CUNY Queens College. He majored in biology and planned to become a doctor.
Porush’s plans changed when he met Jordan Belfort at a party in 1974. Belfort was a stockbroker who had just started his own firm, Stratton Oakmont. Porush was impressed by Belfort’s success and decided to go into the stockbroking business himself.
In 1975, Porush joined Stratton Oakmont as a trainee stockbroker. He quickly rose through the ranks and became one of the firm’s top earners. By 1987, he was earning $1 million per year.
In 1989, the U.S. Securities and Exchange Commission (SEC) began investigating Stratton Oakmont for securities fraud. The SEC shutdown the firm in 1996 and Belfort pleaded guilty to federal charges of securities fraud and money laundering. Porush also pleaded guilty to federal charges related to the Stratton Oakmont scandal and served 20 months in prison.
Danny Porush Career
Danny Porush is an American businessman and former stockbroker who has a net worth of $200 million. Porush was born in Brooklyn, New York in 1954. He graduated from Far Rockaway High School in 1972 and then attended the University of Miami. Porush began working for a small broker dealer called Sheridan Hills Securities. In 1992 he left Sheridan to start his own firm with Jordan Belfort called Stratton Oakmont. The firm quickly grew into one of the most successful boiler rooms on Wall Street. By 1996 they were bringing in over $1 billion in annual revenue.
In 1999, the US Securities and Exchange Commission charged Stratton Oakmont with securities fraud. The firm was shut down and Porush served 39 months in prison. After being released from prison, Porush started a real estate development company called Park Lane Properties.
Danny Porush Family
Danny Porush is an American businessman who has a net worth of $200 million. He is best known for being the co-founder of Stratton Oakmont, a Long Island, New York-based brokerage firm that was portrayed in the film The Wolf of Wall Street.
Porush was born on July 26, 1954 in Brooklyn, New York. He attended Far Rockaway High School and then went on to study at CUNY Queens College. After college, he worked as a stockbroker for several years before teaming up with Jordan Belfort to launch Stratton Oakmont in 1989.
The company quickly grew into one of the most successful brokerages in the country, but it also attracted a lot of scrutiny from regulators. In 1996, Porush and Belfort were indicted on federal charges related to securities fraud and money laundering. They both pleaded guilty and served time in prison.
After his release from prison, Porush started a new company called 1st Traders Securities. He currently resides in Boca Raton, Florida with his wife Nancy and their three children.
