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Jordan Belfort Yacht: The True Story and The Wolf of Wall Street Version

The true Jordan Belfort yacht story is as strange and unbelievable as the hit movie The Wolf of Wall Street depicts it to be. There are several insider stories behind the sinking of the mighty yacht that are not widely known but are quite interesting and different from the reel version in several ways.

What happened to the Jordan Belfort yacht Nadine?

As the movie, The Wolf of Wall Street shows, the superyacht Nadine sank close to the coast of Sardinia in 1997 while battling what many calls “the storm of the century”. Jordan Belfort narrates the event in detail in the memoir describing his life in the 90s, which is what the Martin Scorsese movie is about.

Before getting into the details of the sinking, it is worth noting that the 37m yacht had a long and interesting history. She carried renowned celebrities like Coco Chanel before reaching Jordan Belfort (played by Leonardo DiCaprio in the movie) and was one of the largest yachts in the East Coast’s waters.

While the yacht was initially manufactured for a French native and given the name Matilda, he backed out of the deal. This led Coco Chanel to buy the beautiful yacht with the low superstructure that Dutch yachts are famous for.

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The yacht took on different names as it passed through famous hands, even those of the murder trial acquitted Melvin Lane Powers. Belfort named the yacht after his wife and renovated it with the capacity to carry a helicopter, 6 Jetskis, 4 motorbikes, and much more. Under Belfort’s ownership, the yacht witnessed a series of wild parties that were like unlimited glamour and fun in a package until disaster struck unexpectedly.

Did the yacht scene in The Wolf of Wall Street actually happen?

The Jordan Belfort yacht sinking scene in The Wolf of Wall Street was heavily inspired by a real-life event, though the movie did take some creative liberties. For one, the yacht was called Naomi in the reel version since the name of Belfort’s wife (played by Margot Robbie ) was changed in the movie. In reality, the yacht was named Nadine.

The movie further depicts Belfort’s helicopter getting thrown off the yacht by strong waves. In reality, the yacht’s crew went up to the deck and pushed off the helicopter so that Italian navy seals would have a space to land. The yacht’s itinerary was altered a bit by the movie’s director Martin Scorsese to add to the drama, though the power of the storm was scarily accurate.

Belfort admitted that the yacht’s captain Mark Elliot explicitly warned them not to sail to Sardinia on that fateful night. But according to the movie, there was a business opportunity in the city that Belfort could not bear to miss out on despite his wife’s protests.

Some sources claim that in reality, the passengers were simply eager to hit the golf course at Sardinia the next morning. They refused to pay heed to the captain’s warning and asked him to go through the storm, which eventually led to the famous Jordan Belfort yacht sinking incident. Therefore, unfortunately, if someone wants to have a yacht rental in Dubai or any other destination, they have missed their chance with this yacht.

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Interesting insights on the sinking as portrayed in the movie

The movie captures the fear and stress that each passenger felt when the yacht got caught up in the 70-knot storm. There is some hilarity when Belfort starts yelling for his drugs to avoid the horror of dying sober.

Several rescue attempts were made, but due to rising risks, each of them was called off. By some twist of luck, the yacht’s engine room remained mostly undamaged for a while, because of which they were able to make their way through the sea.

In the end, everyone survived the incident without any major injuries. At dawn, the Nadine made its way 1000m under the water only 20 miles away from Sardinia’s coast. Now, the movie’s audience gets to watch the Jordan Belfort yacht story unfold on the screen with a pinch of humor.

The Nadine’s captain Mark Elliot’s heroic actions did not go unnoticed. He was praised for leading all the passengers to safety, though he was able to get out of the yacht only 10 minutes before it sank. The captain also admitted that the insurance was granted immediately considering the ferocity of the storm. As for the yacht, many still wonder about the highly expensive equipment that had to be thrown into the water and is probably rusting away at the bottom of the sea.

The best features of the Jordan Belfort yacht Nadine

The 167 ft Nadine, as its former passengers claim, was a beautiful yacht. When owned by Coco Chanel under the name Matilda, the yacht had five staterooms, large dining areas, and a helipad. The interiors were furnished with dark teak paneling. Each new owner customized the yacht’s name and interiors based on their tastes.

Belfort decorated the Nadine lavishly with a variety of mirrors and set a vintage deco theme. He renovated the upper deck to fit a crane that was able to stow his Turbine Seawind seaplane. The yacht carried the best dive gear available in the market plus a variety of Belfort’s ‘toys’ such as his motorbikes and jetskis.

Which model was portrayed as the Jordan Belfort yacht Nadine in the movie?

Martin Scorsese got the yacht Lady M to represent Nadine onscreen. While Nadine actually had a luxuriously vintage charm to it, Lady M is a modern vessel with contemporary features. Lady M was manufactured in 2022 by Intermarine Savannah, while Nadine was built in 1961 by Witsen & Wis. The 147 ft Lady M is currently worth $12 million and is similar to Benetti yachts in its glamorous design.

Jordan Belfort’s life today

The entrepreneur and speaker Jordan Belfort’s shenanigans are well-known thanks to his detailed memoir and the hit movie based on some parts of his life. He spent 2 years in prison and now, at 59 years of age, has a practically negative net worth. Yet, his extraordinary motivational speaking skills continue to attract and inspire people even today.

It is easy for anyone watching the movie to wonder if many of the incidents are exaggerated. But considering Belfort’s eccentric life, even the Nadine sinking incident remains another regular anecdote shared in the movie.

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The Real Story Behind the Yacht in The Wolf of Wall Street

Based on the eponymous memoir, the 2013 hit The Wolf of Wall Street told the story of Jordan Belfort, a former stockbroker who was convicted of securities fraud and money laundering. Directed by Martin Scorsese and starring Leonardo DiCaprio, the movie was a smashing success through and through. Amongst its many impressionable scenes, one of the most memorable ones was the yacht party, where Belfort and his colleagues indulged in lavish excess. However, Belfort’s ex-wife, Nadine Caridi, has now spoken out about the real story behind the yacht.

Nadine Caridi, the Ex-Wife

Caridi, who was portrayed in the movie by Margot Robbie, gave an interview in which she revealed that the yacht scene was not entirely accurate. According to Caridi, the yacht that was shown in the movie was not the one that Belfort actually owned. Instead, it was rented for the filming of the scene. In reality, Belfort owned a different yacht called Nadine. Caridi claims that the yacht was named after her and that she played a significant role in its design and decoration. She says that the yacht was much smaller than the one shown in the movie, but it was still luxurious and served as a symbol of Belfort’s wealth.

The Sinking of the Nadine Yacht

Nadine Caridi recently spoke about the sinking of the yacht in June 1996, an event that inspired a scene in the movie. The yacht’s sinking during a storm off the coast of Italy was a terrifying experience for everyone on board. The waves were violent and relentless, hitting the yacht repeatedly. Rescue services had to be called in to rescue the passengers and crew, including Belfort and Caridi. In a recent TikTok video, Caridi shared real-life footage of the rescue, showing the fear and chaos that ensued during the storm, while expressing gratitude that everyone survived.

Can a Circle of Salt Paralyze a Self-Driving Car?

Autonomous vehicles are truly within the grasp of humankind. But the brain of a sci-fi geek can wonder whether it’ll bring an apocalyptic scene, where a troop of autonomous cars is pursuing human prey across a desolate landscape. Well, of course, it’s not going to happen, but luckily, if it did, there’s a strangely simple solution for that. And it involves nothing but salt!

The Salt Trap

Back in 2017, artist James Bridle demonstrated how an understanding of road markings using salt could paralyze a self-driving car midway by delivering confusing messages. You need to draw two circles of salt, one in a block line and the other in broken stripes. When the car comes to the middle of it, the markings will direct it to go right ahead and also not to cross, simultaneously. The result is the fabulous “Autonomous Trap 001.” Future models may be able to overcome this fun technological quirk, but it has surely raised a valid question about the possibility of the success of the trick. It’s astonishing to find out that there may be a simple way to manipulate the environment to disrupt the self-driving capacity of an autonomous car.

The Response

This salt circle trap has caught the attention of none other than Elon Musk, the Tesla boss and newly-appointed CEO of Twitter. As an avid enthusiast, Musk is known for dabbling in autonomous vehicles. Responding to the demonstration, he explained that the salt circle trick will probably be able to trap a Tesla car with the production Autopilot build. But he suspected that it won’t work its magic on the FSD models or the cars with Full Self-Driving capabilities. Musk further suggested that making a ring of traffic cones would be effective on the FSD cars. So, if you ever find yourself facing a murderous fleet of autonomous cars, all you need to do is just take your salt bags and traffic cones out! Easy-peasy, right?

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Jordan Belfort’s ex-wife tells the real story behind the yacht on The Wolf of Wall Street

The ex-wife of jordan belfort shed some light on the infamous scene.

Ben Thompson

Jordan Belfort's ex wife, Nadine Macaluso, has set the record straight about the scene in The Wolf Of Wall Street where Belfort splashes out and buys his wife a yacht on their wedding day.

I mean, when you have a lot of money , what better way to treat your new spouse after saying I do?

After their lavish wedding, Belford ( Leonardo DiCaprio ) covers Nadine's, or Naomi as she's known in the movie, eyes with a blindfold before revealing the huge yacht, which has been christened the 'Naomi'.

And Naomi (played by Margot Robbie ) cannot contain her excitement.

"Are you serious? A f***ing yacht?!" she exclaims.

However, it seems that the real Belfort wasn't very serious, as Macaluso revealed on TikTok that her ex-husband, who she was married to from 1991 to 2005, 'did not' actually buy her a boat on their wedding day.

She said: "Actually what happened I think we were married for a few years and we were always chartering yachts, because he loved to do that.

"And I had given birth to my beautiful daughter Chandler and he said 'I want to buy a yacht'."

However, this idea didn't sit well with Macaluso at the time.

She continued: "I said 'I don't think we should buy a yacht, we have a baby and I don't feel comfortable.

'She can't swim.'

"I had visions of her falling off the boat and I was actually terrified.

"I did not want to buy the yacht ironically. And he was like 'Nope, I'm buying a yacht and I'm calling it the Nadine'. And I was like 'Okay, here we go'.

"And you know how that went."

Macaluso's final line is a nod to a scene in the film, in which Belfort and Naomi need to be rescued from the yacht after it gets caught up in a storm.

This scene was indeed based on the real life sinking of the ship in June 1996, which resulted in a rescue by the Italian Navy Special forces.

The yacht was sunk after violent waves repeatedly hit it, but luckily everyone on board was able to escape the ship in time.

Macaluso has previously commented on the scene's accuracy , where she admitted in a TikTok video that the yacht sinking scene was 'totally true'.

Speaking of the memory, she said: "It was horrific, horrifying, we were in a squall for 12 to 18 hours and we lived, thank god, for my kids."

She even showed real life footage of her, Belford and their friends being rescued by the Navy.

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Watch: Real ‘Wolf Of Wall Street’ Jordan Belfort Tells The Crazy Yacht Trip Story, Explains The Phases Of Quaaludes & More

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While the real Jordan Belfort has said he won’t be making any money off the film adaptation of his memoir “ The Wolf Of Wall Street ,” one can only imagine that the man who makes his current living as a motivational speaker, will earn a boost in folks curious to hear what he has to say following the movie. And with the stories he’s accumulated from his hedonistic days in the financial game, it’s no wonder that Belfort is an engaging raconteur, and this 13-minute video from a few years back proves it.

One of the wildest sequences in a film already filled with unbelievable, outrageous acts, is Belfort’s European yacht trip which starts in sun dappled Italy and soon finds drugs, disaster and near death looming for everyone involved. It’s one of the moments in “The Wolf Of Wall Street” where you wonder if it really happened, but to hear Belfort himself tell the tale, it’s so outlandish it just has to be true. In a conversation with The Room Live  (via Reddit ) Belfort shares the entire story from beginning to end, even detouring slightly to explain the phases of being high on quaaludes. Yes, really.

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Meanwhile, back in November we had the chance to talk with the film’s screenwriter,  Terence Winter , who revealed that the “ Goodfellas ” template is one that ‘Wolf’ didn’t veer too far from. “It is very much [in that vein],” he explained. “It’s sort of written in the same style, voice-overs, it’s a very fast movie, it’s really a wild roller coaster ride.” And now with film in theaters, director Martin Scorsese elaborated and defended his choice of approach.

“If you’re gonna use a voiceover to tell people what’s missing, that’s cheating in a way, right? But if you use it for other reasons—if you use it for commenting [as in Wolf], ‘Brad died at the same age as Mozart. I don’t know why that came to mind. It doesn’t matter.’—I mean, that’s interesting. It’s about character. It’s about speaking. It takes you into the story,” he told THR . 

“I guess it’s a way of exposition. That’s kinda the key, in a way. Look, I’ve done it, you know? We’ve done it at times. And sometimes, by the way, you can do the exposition and just get away with it; it’s extraordinary just being able to do it, flat, straight out, move on, because there are more important things than specific exposition. And then there are some kinds of exposition that you get stuck in…” he continued. “So maybe it’s better to avoid it completely and just try to find other ways. But the voiceover work that I like is voiceover about character. He could be listing everything he owns and cares about, but it’s more about him—him or her, you know? It’s not about what an IPO is, for God’s sakes. [In Wolf the character of Belfort starts to explain what an IPO is and then acknowledges that the audience isn’t following what he’s saying.]”

All we know is that while Leonardo DiCaprio does a good job in channeling Belfort’s self-destructive energy, there’s no better narrator than the man himself, so check out his insane story below. 

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Jordan Belfort Yacht: The True Story and The Wolf of Wall Street Version

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The true Jordan Belfort yacht story is as strange and unbelievable as the hit movie The Wolf of Wall Street depicts it to be. There are several insider stories behind the sinking of the mighty yacht that are not widely known but are quite interesting and different from the reel version in several ways.

Nadine yacht model

What happened to the Jordan Belfort yacht Nadine? As the movie, The Wolf of Wall Street shows, the superyacht Nadine sank close to the coast of Sardinia in 1997 while battling what many calls “the storm of the century”. Jordan Belfort narrates the event in detail in the memoir describing his life in the 90s, which is what the Martin Scorsese movie is about.

Jordan belfort yacht sailing

Did the yacht scene in The Wolf of Wall Street actually happen? The Jordan Belfort yacht sinking scene in The Wolf of Wall Street was heavily inspired by a real-life event, though the movie did take some creative liberties. For one, the yacht was called Naomi in the reel version since the name of Belfort’s wife (played by Margot Robbie) was changed in the movie. In reality, the yacht was named Nadine.

Interesting insights on the sinking as portrayed in the movie

The movie captured each passenger’s fear and stress when the yacht got caught up in the 70-knot storm. There is some hilarity when Belfort starts yelling for his drugs to avoid the horror of dying sober. Several rescue attempts were made, but each was called off due to rising risks. By some twist of luck, the yacht’s engine room remained undamaged primarily for a while, because of which they were able to make their way through the sea.

The best features of the Jordan Belfort yacht Nadine

The 167 ft Nadine, as its former passengers claim, was beautiful. When owned by Coco Chanel under the name Matilda, the yacht had five staterooms, large dining areas, and a helipad. The interiors were furnished with dark teak paneling. Each new owner customized the yacht’s name and interiors based on their tastes.

Which model was portrayed as the Jordan Belfort yacht Nadine in the movie?

Martin Scorsese got the yacht Lady M to represent Nadine onscreen. While Nadine had a luxuriously vintage charm, Lady M is a modern vessel with contemporary features. Lady M was manufactured in 2022 by Intermarine Savannah, while Nadine was built in 1961 by Witsen & Wis. The 147 ft Lady M is currently worth $12 million and is similar to Benetti yachts in its glamorous design.

Jordan Belfort’s life today

The entrepreneur and speaker Jordan Belfort’s shenanigans are well-known thanks to his detailed memoir and the hit movie based on some parts of his life. He spent 2 years in prison and now has practically negative net worth at 59 years of age. Yet, his extraordinary motivational speaking skills continue to attract and inspire people even today. It is easy for anyone watching the movie to wonder if many of the incidents are exaggerated. But considering Belfort’s eccentric life, even the Nadine sinking incident remains another regular anecdote shared in the movie.

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Charter Yacht 'LADY M' featured in new ‘Wolf of Wall Street’ Film

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By Editorial Team   6 January 2014

The 45m/147’ charter yacht 'LADY M' is the setting for a number of scenes shot with Leonardo DiCaprio for his new Martin Scorcese-directed film ‘Wolf of Wall Street’.

Scenes on board motor yacht LADY M were filmed in North Cove Marina, New York for the highly-anticipated movie due out in cinemas later this month. ‘Wolf of Wall Street’ is based on the rise and fall of high-flying, fast-living real life stock broker Jordan Belfort, played by DiCaprio as he raked in more than $50 million a year on the stock market.

Belfort set up boiler room Stratton Oakmont in the 1990’s and enjoyed an outrageously excessive lifestyle of drugs, women, planes and of course superyachts before being imprisoned for 22 months corruption and fraud.  LADY M is used in the film to represent Belfort’s own superyacht ‘NADINE’, named after his second wife, which was a 41m luxury motor yacht originally built for Coco Chanel in 1961.

‘NADINE’ sank in July 1997 following an instruction from Belfort while he was high on drugs to the Captain to head into a storm on a cruise from Porto Cervo to Capri. The yacht was battered by 15m waves and sank along with a number of toys including a seaplane, helicopter and eight jet skis however all passengers were successfully rescued by the Italian Coast Guard.

Built in 2002 by Intermarine Savannah , LADY M made for a luxurious setting for the film with her classically elegant interior that offers accommodation for up to 10 guests in five staterooms comprising a master suite, VIP, two doubles and one twin cabin. She is offered for charter at weekly rates starting from $125,000, contact your yacht broker for more details. 

'Wolf of Wall Street’ yacht scenes were filmed on board LADY M in North Cove Marina, New York for the highly-anticipated movie due out in cinemas later this month.

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Iconic Scenes: The Wolf of Wall Street – The Yacht Bribe

I love The Wolf of Wall Street . I think it is a spectacular film that seems to grow more relevant as time passes. I also think that the central character and narrator, Jordan Belfort, is not the most important or key character – that is Agent Denham. So I’m looking at the brilliant scene where Belfort and Denham first meet.

What Happens

Multi-millionaire and thoroughly corrupt stockbroker Jordan Belfort invites two FBI agents to his luxury yacht after he learns that they are investigating him. Agent Denham, and a virtually silent partner, arrive for what starts as a very friendly meeting. Belfort hands over some of the information the FBI has been trying to get while constantly trying to impress them with his wealth and insisting he’s done nothing wrong. Belfort draws Denham into a conversation and it seems the FBI agent is not happy at being given the case and would be willing to play ball with Belfort. At which point, Belfort tries to bribe Denham, and then the tone changes. It’s immediately obvious that Denham is not willing to play ball and is determined to bring Belfort down. The conversation gets increasingly acrimonious and ends with Belfort literally throwing lobsters and handfuls of cash at the departing FBI agents.

When you sail on a yacht fit for a Bond villain, sometimes you gotta act the part

DiCaprio is sensational in this scene. Despite getting very good advice not to contact the FBI and try some scheming, this is exactly what Belfort does. They meet on his insanely luxurious yacht, where Belfort has beautiful women lounging on chairs, he is dressed in bright white “yacht clothes” and constantly turning on his beaming smile. He offers them lobsters and drinks. It does not seem to occur to Belfort that showing off his immense, and ill-gotten wealth, might not be the best idea when you’re being investigated for crimes in the stock market.

Belfort’s attempt at bribery is fantastic. Basically detailing a story where he advised someone in need of money in what stocks to invest in and that person making a fortune and how Belfort “would be willing to do that for anyone”. When challenged about this being a bribe Belfort reveals he researched what legally constitutes a bribe and that wouldn’t count. Again, it’s a little suspicious for someone to be able to recite the criminal code of a crime if they’re not a lawyer.

Good for you, Little Man

Oh, Agent Denham, you film stealing hero. Denham is played by Kyle Chandler who, and this is important for the Denham role, is your go-to guy for American decency (if you need someone younger than Tom Hanks), he is probably best known for his role in Friday Night Lights where he played an honourable, upstanding and inspirational football coach. Denham’s casual chatting with Belfort seems to suggest he is not interested in the case and possibly dissatisfied with his job, the attempted bribe being when he flips to his real character.

As Belfort becomes more aggressive Denham responds in kind and leads to one of the all-time best deliveries, “Good for you, little man,” when sarcastically congratulating Belfort on becoming a Wall Street douchebag without any help from anyone else. Belfort is stunned by this comment but mainly in that he can’t understand it…he’s rich, really rich, how can he be a “little man”, he’s a giant. A colossus. The embodiment of the American Dream. The thing is, of course, Denham is right.

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A lot of this scene is purely about status. Of all the places Belfort could have met with the FBI agents he chooses his insanely expensive yacht. He is obsessed with money and how much the FBI agents make, originally pretending to be sympathetic but quickly changing to just mocking them. Belfort assumes that because Denham works for the FBI for what to him is an insignificant amount of money he is a loser. The idea that Denham might believe in what he’s doing is either inconceivable or at best a pitiable weakness. To me, this is the best and most interesting scene in the whole film – not the drug-filled hedonistic parties, not the cult-like team talks Belfort gives his employees, not the incredibly charismatic phone calls Belfort makes when selling stocks but this scene where Denham sizes up Belfort and sees right through him.

Years ago David Cross and Bob Odenkirk made a sketch show called Mr. Show , which contained a sketch based on the premise “someone who makes more money than you is better than you”, so Van Gogh, Einstein and Galileo are actually pretty unsuccessful people. This is Jordan Belfort’s philosophy – he is better than just about everyone he meets because he is richer.

The Hero I’m Going To Be Back At The Office, When The Bureau seizes this boat!

All Belfort manages to do in this scene is upset the FBI and probably convince them that yes, he is absolutely breaking the law. It’s an interesting look at the dynamic of power in America (and indeed the whole world) – who is the more powerful person? Belfort with his huge personal wealth or Denham as a federal officer, a representative of the most powerful country on Earth. There was a lot of discussion at the time about if people actually saw Belfort as the hero of this film, that people liked him and wanted him to win. I saw this as Goodfellas but for white-collar crime. In this scene Belfort helps further his own downfall, antagonising the FBI. In the final moments of this scene, Belfort has just finished throwing money at Denham and his arrogance and deluded grandeur fade as he realises he has just made a terrible mistake.

Also Read: Iconic Scenes: American Psycho – Business Card Scene

Richard Norton

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Meet the Real Wolf of Wall Street Superyacht Built for Coco Chanel

The yachting disaster is one of the most dramatic scenes in Martin Scorsese’s blockbuster The Wolf of Wall Street , and like many of the tales in the Leonardo DiCaprio flick, it’s based on a true story. In real life, predatory tycoon Jordan Belfort bought a yacht in 1993 called Big Eagle and renamed her Nadine , after his English-born second wife. The vessel had been built in 1961 by Witsen & Vis in Holland for fashion icon Coco Chanel, but had undergone many transformations by the time Belfort got his mitts on it. Originally 121 feet long, in the 1970s she was extended by nearly 15 feet, and in 1988 she was cut in half and had another 29-foot section grafted on, finally totaling 167 feet.

The luxury yacht used in Scorsese’s film actually bears little resemblance to the  Nadine , being a far more modern vessel. The director hired the 148-foot  Lady M , built by Intermarine Savannah in 2002 and refit in 2011, for filming. It features luxury accommodations for 10 guests, and a marble and granite interior with gold accents.

In Coco Chanel’s day the yacht was mainly used to cruise from Monaco to Deauville for the summer horse racing season. The real  Nadine  sank in 1997 during a storm off the east coast of Sardinia while crossing from Porto Cervo to Capri, much as the movie depicts. Belfort has said that his insistence on sailing in a storm caused the yacht to capsize. Luckily, everyone on board at the time was rescued by the Italian coast guard. 

Jared Paul Stern

Jared Paul Stern, JustLuxe's Editor-at-Large, is the Executive Editor of Maxim magazine and has written for the Wall Street Journal, New York Times, the New York Times' T magazine, GQ, WWD, Vogue, New York magazine, Details, Hamptons magazine, Playboy, BlackBook, the New York Post, Man of the World, and Bergdorf Goodman magazine among others. The founding editor of the Page Six magazine, he has al... (Read More)

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The true story of Wolf Of Wall Street’s yacht ‘Nadine’

Jordan Belfort’s antics are so legendary that sinking a multi-million dollar yacht is just another act of depravity that Martin Scorsese manages to weave among The The wolf of Wall Street grotesque film adaptation. Those who know the wolf of Wall Street book will have read Belfort’s account about it in more detail, but the backstory of the superyacht Nadine is a lesser-known tale with unexpected twists.

Despite Jordan’s notoriety for unbridled bacchanalia, Nadine was sunk by natural forces far greater than even the fiercest drinking bout he could muster. In the middle of a pedestrianized Mediterranean cruise, a storm unexpectedly turned into a raging storm with high winds and huge swells to send the pride and joy of the wolf into Davey Jones’ locker.

In fact, this type of storm is so specific that it has its own name. The mistrals get their name from the winds that blow from the French Alps into the Mediterranean. This convection cycle is caused by warm air rising from African deserts and colder air from the Alps rushing through the void for sustained round trips of 12 to 40 hours. Nothing like a strong relentless wind to generate a dangerous swell. And the kicker? Mistrals are difficult to predict.

RELATED: Asymmetric superyacht hits market for $ 47 million

En route from Riva de Travino to the island of Sardinia, off the west coast of Italy, what should have been a routine race (which usually takes around 7 hours) ended in the fiasco that International Yachts described as ‘Mayday in the Med.’

“When we set off,†said Captain Mark Elliot, “the forecast told us to expect wind and choppy but small seas. Knowing that this wouldn’t be an ideal crossing, the captain asked if the guests wanted to delay until the next morning. The answer was a definite ‘no’ as they were all eager to head to Sardinia for a round of golf the next morning. So, they cast off and set sail for another corner of paradise.

Hours later, the guests were enjoying the sunny afternoon weather of another dream day in the Mediterranean… when a rogue wave reached the bow and wheelhouse, inundating a hostess from head to toe. Immediately after this warning sign made contact, a transmission was received via radio warning of unexpected gale force winds in the area. The mistral had announced. The swell heights doubled, the winds intensified, and the shit became real.

However, before Belfort throws next-level parties aboard his elegant ship and charters it across the Mediterranean to Sardinia on that fateful day, Nadine had already lived many lives. In truth, the luxury yacht seen in The Wolf of Wall Street movie bears no resemblance to the period ship owned by Jordan Belfort. Scorsese hired a yacht called Lady M for these stages, which was originally built by Intermarine Savannah in 2002.

On the other hand, the real one Nadine (Where Mathilde as it was originally called), was built in 1961 and delivered by the Dutch shipyard Witsen & Vis for none other than fashion mogul Coco Chanel. At the time, Mathilde had five dark teak cabins, exceptional dining rooms and a helipad.

“At that time, it was the largest yacht on the East Coast,†recalls Captain Mark Elliot. “No one had ever seen anything like it.”

After Coco’s death in 1971 the yacht was renamed Jan Pamela by its new owner, Melvin Lane Powers. While not as decorated as his predecessor, Powers was a notorious and ostentatious Houston real estate developer known for wearing crocodile skin boots and driving a golden Cadillac after being acquitted of the murder of her lover’s husband. The New York Times described his 1966 trial as “one of the most spectacular homicide trials of all time.”

Powers ordered a huge refit and extension of the ship, but in 1983 it hit rock bottom and Jan Pamela was sold before being renamed Waterside . In 1989, it was Bernie Little’s luck, and he bought her sight without seeing her. She then underwent another refit, before becoming Great eagle under the command of Mark Elliot once again. In this form, she caught the attention of Jordan Belfort, who took possession of it in 1995. Of course, he had to undertake his own additions and renovations, before renaming the ship after his second wife, Nadine .

However, the reincarnation of this historic yacht as Nadine was to be short lived. After 35 years of leisure, sailing on the most beautiful coasts and welcoming the great names of the time, Mother Nature would have the last word.

Back in the Mediterranean, hours later, roaring gusts ripped the $ 100,000 tender from its tow lines. Captain Mark Elliot calls to abandon yacht, as turning point Nadine against the crashing waves would have courted disaster. Abandoning the course to try to outrun the mistral was out of the question for the same reasons. They are there now – every captain’s nightmare – with seventy knot winds and 35 foot ridges to negotiate.

Then, Nadine’s The moment of “perfect storm” pointed its formidable head. The huge wave crashes all over the ship, tearing off the hatches and deck fittings, triggering a death knell that can only end with a day of disaster. The remaining supply crashes into the dining room window, causing it to collapse wave after wave flooding the living room.

“I knew at that time that Nadine had received a fatal blow. Once I assessed the damage, I walked over to the deck and used the satellite phone to contact the Italian Coast Guard known as “Gruppo Marine Italian,†says Captain Elliot.

First aid stations. Guests are gathered in a secure central location and escorted one by one to their cabins to collect passports and any valuables that can fit in a small bag.

Half an hour later, a rescue helicopter attempts to bring down a diver to pick up guests. However, the gusts of wind turned out to be too violent, and after almost losing the said diver, the helicopter aborted. Imagine the heartbreaking feeling of those on board Nadine , as the Coast Guard abandon ship, defeated by the rampaging elements, and return to the safety of the coast as the sun sets below the horizon and night sets in.

Hurricane-force winds, severe flooding and a 15-meter-high sea are now pounding Italy’s shores in what will be known as the storm of the century. The situation is so tumultuous that when a large merchant ship attempts another rescue attempt a few hours later, it almost crashes in Nadine , before setting off again and again, abandoning the crew and the frenzied guests.

The liferafts are deployed as a precaution… until the roaring wind also tears them from the sea, leaving the crew completely stranded on board.

Below deck, the flooded kitchen has become an electrified death trap, and the chef and engineer receive jolts from the current before pulling the ass out of there to the (relative) safety above. It should be noted that this is probably around the time when a deranged and drenched Leo shouts at Jonah Hill with the unforgettable line: “Get the ludes downstairs!” I will not die sober! To have. The. Whore. Ludes! ”

Times of crisis. With no options left, Captain Elliot calls to throw the helicopter off the bridge to free up space for another rescue attempt. He unhooks the tie-downs and rolls the ship twenty degrees, throwing the expensive equipment overboard and into the Mediterranean, where its rusty skeleton undoubtedly lies to this day.

At around 5 a.m., the Coast Guard returned and began to hoist the guests, then the crew to safety in the reassuring light of dawn. The weather calmed down as the winds and waves calmed down, but the damage was done. The last to leave the ship he commanded for so many years, Mark Elliot takes stock of the wreck before finally accepting his loss, closing the engine room controls and seizing the buoy rescue package handed to him by the coast guard.

Nadine is swallowed up by the sea, just ten minutes after Captain Elliot left his decks.

While all the guests and the crew of 11 survive, the prestigious motor yacht and its collection of toys (including eight jet skis, four motorcycles, snorkeling gear, a helicopter and a seaplane) sink into the deep end. at the bottom of the Mediterranean, over 1000 m deep. the water.

“The insurance paid off immediately because it was the storm of the century,†said Captain Elliot.

Back on dry land, Mark Elliot was hailed as a hero after showing courage and leadership in such a dire situation. He was then offered command of Bernie Little’s famous yacht Vessel , and today works as a broker in Miami as one of the most experienced and capable men in the business.

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Wolf of Wall Street's Jordan Belfort: 'The lessons of the crash have been forgotten'

The convicted fraudster who inspired Martin Scorsese’s film of Wall Street excess is back with a new book and a warning that a big market correction is on the way

T he Wolf of Wall Street forgives but he never forgets. Ten years ago when I last met Jordan Belfort, convicted criminal, aspiring author and shortly to be a man at the center of a fierce bidding war for his biography, I suggested his hair was “the sort of dark brown that only passes for natural in LA”. Also his skin was a little too taut and maybe he wore lifts.

A decade on the 55-year-old still looks 10 years younger than his age. And his hair is still a rich mahogany. But he’s keen to point out it’s all natural. “I swear to God,” he says. “Do I dye my hair?” he asks Anne Koppe, his partner, as they sit in their Manhattan hotel suite.

Koppe – the sort of blonde who probably gets described as “willowy” and spends part of the interview curled round Belfort like a cat – points at his chest hair, peaking out from his polo shirt. That’s definitely brown. “It’s all an expensive dye job,” I say. The couple laugh. “You’re killing me,” he says.

Back in his native New York for a family visit Belfort seems very happy. It’s over 11 years since he was released from jail having served four years for running a “pump and dump” share selling scheme at his broker, Stratton Oakmont, that prosecutors said led to losses of approximately $200m. Life has moved on for him, and how.

His drug-fueled crime spree, in which he crashed a helicopter (while high on quaaludes), sank a yacht and arranged midget-tossing in his office, was turned into a film by Martin Scorsese starring Leonardo DiCaprio , that became an international box office hit.

He remains friends with DiCaprio. He taught the actor, who has never done drugs, how to act when he was portraying the scenes of Belfort out of his mind on his usual cocktails of narcotics. It was: “Valium for breakfast, marijuana for lunch and quaaludes for dinner,” one of his associates said.

Now he has another book out, Way of the Wolf , that promises to teach anyone how to be an ace – and ethical – salesman, and is in the early stages of turning his life story into a Broadway musical. Crime does pay!

Belfort, 20 years sober, lives a charmed life. It took almost seven years for the film to be made after it was optioned and even that delay worked in his favor. The script originally ended with Belfort in jail. By the time it was made, Belfort had rebuilt his business, giving seminars about his “straight line” sales techniques and the film ended with him giving one of those talks. It was “amazing” he says. “In a way the fact it was so late really worked.”

Now living in Los Angeles, Belfort says he leads a quiet life. “We are very boring,” he says. “All these delivery services, Doordash, Grubhub. They make it too easy to stay home and have bed picnics. That’s our favorite thing to do.”

But the bizarro world of the Wolf continues. The US government now owns the TV rights to his story (but not the Broadway ones) after the film’s producers, Red Granite Pictures, reached an agreement with federal prosecutors looking to recoup some of the billions they claim were stolen from the Malaysian government and used, in part, to finance the film.

Belfort says he had a strange feeling about those investors from the start. “The way they spent money, I have never seen anything like it,” he says. The Malaysian investors flew Kanye West out for the film’s launch party. When you steal money, he says, you just want to spend it. “It’s like a weird compulsion,” says a man who should know.

For his own part, Belfort says the high-spending days are over. He wants to pay back Stratton’s investors (he’s already paid about $20m) and get on with his life. But his celebrity – and his past – do get in the way.

All the harping on the past can be a bit annoying. “The movie came out a few years back but it depicts events from my life almost 30 years ago. I’m not the same Jordan Belfort. I continue to pay back money and I am hopeful that I will pay back all the money. It’s frustrating because you want to reinvent yourself and you feel you have. And he knows your past is always there.”

The book, he says smoothly moving into sales pitch mode, is about that. “It’s really about a strategy for coming back from failure,” he says.

“I should have written this book a long time ago,” he says. The problem is he hates writing. Anne shows me a video of him typing away in bed (they clearly spend a lot of time there). He holds the laptop in one hand and types one finger at a time. “Even better,” he says out loud in the video. “Better yet. Better though.” He pauses. “Once you’ve been. Once you HAVE been …” It goes on and on and looks excruciating. Anne says it helped him sleep. A lot.

But the result is fun, with more insights from the world of Stratton Oakmont and allusions to The Italian Job and Forrest Gump. It’s the sort of easy read that will no doubt fly off the bookshelves at airports around the world. It’s not just for sales people, he says. Everyone is always selling themselves. “There are so many people out there who are brilliant, hardworking and industrious but lack the art of persuasion,” he says. “And because of that they end up dying with their music on their lips. It’s crazy.”

If he wants to make the switch from villain to hero, there are others to take his place. In the pantheon of Wall Street villains Belfort has been eclipsed by Martin Shkreli, the “pharma bro” who hiked the price of a lifesaving drug 5,000% and is now in jail after calling on his Facebook fans to steal a lock of Hillary Clinton’s hair . “There has got to be something wrong with that guy,” says Belfort. “Is he crazy?”

But it’s not the players, it’s the bigger picture on Wall Street that worries him these days. He says bitcoin is a bubble waiting to burst. “It’s artificially created scarcity,” he says. “The problem I have with bitcoin right now is that it’s very much like at the tail end of of 2007, 2008 right before the mortgage market blew up. You’d be getting your haircut and he’d be like: ‘Oh yeah I also do mortgages on the side.’ Everybody was a broker. Everyone’s flipping houses. Now everyone’s buying bitcoin. I promise you the end is near.”

He also thinks that the stock markets – which seem to reach record highs on a daily basis – are in for a fall. “I think the lessons of the crash have been forgotten,” he says. “It feels like we are going back into a cycle of irrational exuberance. Like with Trump. How can the country be that unsure of him, how can we be that unsure of him and the markets be so high? If there is that much uncertainty then there is risk,” he says. “The market itself might not be linked to reality any more,” he says. “It’s the ‘greater fool theory’. If there is a greater fool that will buy it from me at a greater price then I did good.”

Something is off and there is going to be a big correction, he says. “There is North Korea and yet … What are they going to do with the national debt? Something is going to happen.” Whatever it is, you get the feeling it’s going to work out just fine for the Wolf of Wall Street.

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Two go on trial in Switzerland over ‘kleptocracy’ scandal involving Saudi oil firm, Malaysian bank

FILE - Former Malaysian Prime Minister Najib Razak, center, speaks to supporters outside at Court of Appeal in Putrajaya, Malaysia Tuesday, Aug. 23, 2022. Two managers of a Saudi oil exploration company were going on trial Tuesday, April 2, 2024, in Switzerland for alleged fraud and money laundering in a scandal years ago linked to a Malaysian sovereign wealth fund that the U.S. Justice Department once described as the “biggest kleptocracy case” ever.(AP Photo, File)

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GENEVA (AP) — Two managers of a Saudi oil exploration company went on trial in Switzerland on Tuesday for alleged fraud and money laundering over a scandal years ago linked to a Malaysian sovereign wealth fund that the U.S. Justice Department once described as the “biggest kleptocracy case” ever.

The defendants from PetroSaudi — a Swiss Saudi citizen and a Swiss British national who were not identified by name for privacy reasons — are accused of having created a scheme in 2009 under which 1 Malaysia Development Berhad, or 1MDB, would set up a joint venture based on false premises.

Malaysian investigators allege that over $4.5 billion was stolen from the fund, established in 2009, and laundered by associates of former Prime Minister Najib Razak through layers of bank accounts in the United States and other countries.

Swiss prosecutors said the PetroSaudi managers were indicted on charges of commercial fraud, aggravated criminal mismanagement and aggravated money laundering, based on events that took place over at least six years.

The attorney general’s office, in a filing last year , said the managers sought to enrich themselves and others by misappropriating at least $1.8 billion that was transferred to the state-owned investment fund.

The indictments are the first of their kind in Switzerland, where some financial institutions were ensnared in the far-reaching scandal.

The joint-venture deal called for 1MDB to pour in $1 billion and for PetroSaudi to contribute assets consisting of oil fields in Turkmenistan and Argentina valued at $2.7 billion, even though the oil company didn’t actually own those assets, according to the criminal court in the southern city of Bellinzona.

After the deal was signed, about $700 million from 1MDB was transferred to a Swiss bank account linked to a Malaysian investor for whom the defendants had allegedly been working, and tens of millions ended up in the hands of the defendants and PetroSaudi, without serving the joint venture, it said.

Swiss prosecutors say the defendants also hatched other plots that aimed to cause the 1MDB board to transfer $830 million as part of an “lslamic loan” that followed the joint venture over the next two years. Those funds were also diverted, the court said.

Some of the looted money allegedly paid for jewelry, hotels, art and a luxury yacht, and helped finance Hollywood films such as “The Wolf of Wall Street.”

More than $700 million landed in Najib’s bank accounts. He was sent to prison in Malaysia in August 2022 to serve a 12-year sentence for graft . 1MDB was a development fund that he set up shortly after taking power in 2009.

The Swiss attorney general’s office noted last year that “the U.S. Department of Justice described the affair as ‘the largest kleptocracy case to date.’”

The three-judge panel in Bellinzona, which is home to the Swiss federal criminal court, is to hear arguments in the case through the end of April.

Crypto party with sushi platter models shows that toxic culture is alive and well in London finance

Orianna Rosa Royle in London here, filling in for Peter.  If you thought seeing scantily clad women serving food to finance bros at wild parties was a thing of the ’90s, think again.

Just last week, leaked photos revealed that a cryptocurrency company Copper, chaired by British politician Lord Philip Hammond, hosted a private London bash in March where guests were served sushi off the bodies of half-naked models.

It turns out that not even a global pandemic, lockdowns, and new levels of respect for colleagues’ personal space (remember the elbow bump?) were enough to kill Wolf of Wall Street -era antics.

In the City of London, at least, toxic culture is still thriving—and Copper’s hedonistic soirée is only the most recent evidence. 

Last month, the U.K. parliament released its much-anticipated report into Sexism in the City . 

More than 40 women in finance spoke to MPs on the Treasury committee about their experience during the inquiry to determine how much meaningful progress City employers had made since the last investigation in 2018. The answer appears to be “not much.”

Aviva CEO Amanda Blanc told MPs that harassment in financial services—which employs more than 2.5 million people—is still worse than in any other industry.

Citing data collected by the not-for-profit organization Speak Out Revolution and the advocacy group Can’t Buy My Silence, the report says that “45% of workers working in the financial services industry have encountered sexual harassment in the workplace.”

“The evidence we took was shocking, especially the extent of misogyny, sexual harassment and bullying, up to and including serious sexual assault and rape,” the report noted, adding that the use of victim-silencing NDAs is still prevalent.

Last week, the Guardian reported that the CBI has used up to 10 gagging clauses to prevent staff from discussing their experiences of sexual misconduct and bullying at the organization in the last year alone. 

And last month three more women asked to join a sexual misconduct lawsuit against one of Britain’s best-known hedge fund managers, Crispin Odey, and his firm Odey Asset Management. (Odey has denied all allegations.)

Ongoing abuse is one of the reasons why Blanc, who became the blue-chip company’s first female chief executive in 2020, is now personally signing off on white male hires as part of the firm’s drive to improve diversity.

“My belief is if you have more women in senior management roles, this behavior will go away,” she explained. In Europe, 44% of financial services directors appointed in 2023 were female; in Britain, the figure dropped to 33% . Copper, meanwhile, has an all-male board . 

In the aftermath of the sushi incident, Copper told the Financial Times that it is launching an internal probe into its event approval process. (Copper did not respond to Fortune’ s request for comment.) 

But really, the entire finance industry needs to check itself. Its CEOs have been among the loudest supporters of in-office mandates ; it’s up to them to ensure that the toxic culture of the past doesn’t return to the office as well. 

More news below.

Orianna Rosa Royle @oriannarosa [email protected]

Building a Lego family fortune

Lego’s lesser-known billionaire dynasty got a bit richer last year. The Kirk Kristiansen family’s Kirkbi fund, which owns 75% of Lego, increased profits to $1.62 billion in 2023, as Lego bucked a wider global industry slump in sales. Internally, the family, worth $25 billion, completed a seven-year transition, with former CEO Kjeld handing over the title of “most-active owner” to his fourth-generation son, Thomas. Fortune

A piece of the puzzle

Tony’s Chocolonely’s famous uneven chocolate pieces and bright packaging might seem like another quirky piece of product differentiation, but it’s all part of a wider plan to address inequality in the cocoa industry. In a new interview, the chocolate maker’s U.K. and Ireland boss discussed how the group uses loud marketing practices to spark a change in how cocoa is sourced. Fortune

Weight loss for less

Danish pharma sensation Novo Nordisk fell under the spotlight for the wrong reasons last week. Researchers discovered that the group’s appetite suppressant, Ozempic, could be profitably produced for less than $5 per month, compared with the $968.52 Novo sells it for in the U.S. The findings drew the ire of Sen. Bernie Sanders (I–Vt.) and will place scrutiny on Novo’s pricing strategy. Bloomberg

AROUND THE WATERCOOLER

Lease wars? Volkswagen-backed Xpeng is set to become one of its biggest rivals as it launches in Germany—and it’s betting on a rising appetite for leasing to win over EV-skeptics by Ryan Hogg

Sergio Ermotti came to the rescue when UBS snapped up Credit Suisse. One year later, he’s now Europe’s best-paid bank CEO   by Prarthana Prakash

F1 owner Liberty Media is eyeing a $4.32 bn deal to buy up motorcycle racing series MotoGP. But it could face a big speed bump—competition watchdogs   by Prarthana Prakash

Ingka CEO Jesper Brodin wants more of Ikea shoppers’ wallets as group buys up Swedish bank by Ryan Hogg

Cannes yacht encounter triggered alleged $1.8 billion fraud that put Malaysia’s ex-prime minister in prison by Bloomberg

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Hyundai and Kia recalled 3.4m vehicles, warning to park them outdoors because they risked catching fire. 6 months later, most are still on the road, unrepaired

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