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Tuesday 29 July 2014

Jordan Belfort: Real Wolf of Wall St tells Irish entrepreneurs 'expand abroad and online'

Mark O'Regan

Published 28/05/2014|02:30

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THINK big, think global – that's the advice from the real life Wolf of Wall Street to Irish entrepreneurs.

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Jordan Belfort shot to fame as a hedonistic stockbroker whose best-selling book spawned the Oscar-nominated Martin Scorsese hit movie.

And he is convinced now is the "greatest time" in Ireland for "super savvy" start-ups to make their fortune.

The 51-year-old, who claims during his Wall Street heyday he downed some 50,000 pills and blew €100,000 on prostitutes, says the ideal time to make real money is after an economic crash.

"The greatest opportunities are after the cataclysm – but very few people will really take advantage of them," he said. "Those who do it are the vulture guys – who will swoop in when things are at the bottom.

"Remember you can get some real traction when things are looking brighter on the horizon.

"Capital starts to ease up, and this is when you see fortunes made."

Dressed in a tracksuit and runners in his penthouse suite in Dublin's Four Seasons Hotel, the one-time high roller of international finance came straight to the point.

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If he had his hands on the levers of power in Ireland he would introduce "specific laws" which would "encourage and incentivise" our go-getters.

He added that small business owners and entrepreneurs should look abroad and online to expand their businesses.

"Jobs are created and wealth is created that way, so I would really try to encourage an entrepreneurial mindset," he said.

On the other hand, he warned work ethic alone doesn't guarantee success.

"I was born with the desire to be an entrepreneur, but I wasn't given the rule book for entrepreneurship," he said.

He was in Dublin's RDS yesterday dispensing his thoughts on creating wealth.

Irish Independent

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