Daniel Mark Porush, popularly known as Danny Porush is a name that sparks both curiosity and controversy. Many people recognise him due to his involvement in one of the biggest financial scandals of the 1990s.
Danny started his career as a successful businessman and stockbroker. But due to his choices, he not only messed up his career but also served 39 months in prison.
For those who don’t know, the movie The Wolf of Wall Street is based on Danny’s life story. If you are eager to dig deeper into his life and career journey, we suggest you give this post a read.
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Early Life
Danny Porush was born on 7th February 1957, in Lawrence, New York. Coming from a middle-class family, he grew up on Long Island, where he had a normal upbringing. Details about his parents and other family members are not revealed, but we do know that he is from a Jewish background.
As far as his education is concerned, Danny attended Lawrence Woodmere Academy and later went on to study at Dickinson College. After completing graduation, he pursued higher education at Boston University. However, he didn’t complete his education and dropped out to focus on his entrepreneurial journey.
Beginning of Career
Danny Porush’s career began with various entrepreneurial efforts. One of his early endeavours included Stratton Oakmont, an over-the-counter (OTC) brokerage firm based in Long Island, New York. He joined the firm as the president and worked alongside Jordan Belfort, the chairman of the firm.
Initially, the firm initially operated within legal boundaries, but Porush and Belfort soon delved into fraud schemes. They used market manipulation and aggressive sales tactics to inflate stock prices and sell them to unsuspecting investors. As a result, Stratton Oakmont became one of the most famous brokerage firms of its time.
Shot to Fame
Danny’s breakthrough moment arrived with the firm’s massive success. As the president of the company, he played a crucial role in its operations and generated millions of dollars in revenue. His luxurious lifestyle made him a symbol of Wall Street.
While the firm’s success brought Porush wealth, it also attracted unwanted attention. By the early 1990s, Stratton Oakmont was under investigation and was shut down in 1996. Both Porush and Belfort faced charges of securities fraud and money laundering. In 1999, Porush pleaded guilty and was sentenced to 39 months in prison.
Relationship
Danny Porush’s personal life has been as controversial as his professional career. He was married to Nancy Porush, his cousin. Together, they had three children. However, the couple divorced around the time of his legal troubles. After Danny got released from prison, he married again. His second wife is Lisa Krause.
Major Source of Income and Net Worth
Danny Porush’s main source of income came from Stratton Oakmont. The brokerage firm’s fraudulent activities helped him generate millions of dollars. But after he got caught, much of his wealth was lost to fines, legal fees, and restitution payments. As per online sources, his current net worth is around $12 million, which is the result of his legal business.
