Danny Porush, also known as Daniel Mark Porush, is an American businessman and former stockbroker who gained notoriety for his involvement in the notorious penny stock brokerage firm, Stratton Oakmont.
Porush’s life and career have been full of ups and downs, including his involvement in one of the largest securities frauds in history. In this article, we will delve into the life, career, business, and net worth of Danny Porush, providing all the essential information you need to know about this fascinating individual.
Early Life and Education
Danny Porush was born in February 1957, in Lawrence, New York, and grew up in the Five Towns area of Long Island. Porush attended the University of Maryland, where he earned a Bachelor of Science degree in Speech Communication in 1979.
Early Career
After college, Porush moved to Florida and began his career as a stockbroker at LF Rothschild, Unterberg, Towbin. In 1986, he joined Stratton Oakmont, a brokerage firm founded by his childhood friend Jordan Belfort.
Stratton Oakmont
Porush became the president and chief operating officer of Stratton Oakmont, which specialized in selling penny stocks to unsophisticated investors. Stratton Oakmont became notorious for engaging in unethical and illegal practices, including securities fraud, market manipulation, and money laundering. Authorities eventually convicted Porush of securities fraud, and he served 39 months in prison.
Life After Stratton Oakmont
After his release from prison, Porush attempted to distance himself from his past and reinvent himself as a businessman. He started several companies, including Med-Care Diabetic & Medical Supplies, a medical supply company, and MyMedicalRecords.com, an online medical records company.
Net Worth
People estimate Porush’s net worth to be around $10 million. However, it is difficult to determine the exact amount of his wealth due to his involvement in illegal activities.
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Personal Life
Porush is married and has three children. He involves himself in several philanthropic endeavors, including the Porush Family Charitable Foundation that supports various causes, including education, healthcare, and the arts.
FAQs:
Q: What is net worth?
A: He net worth is estimated to be around $10 million.
Q: What did Danny Porush do at Stratton Oakmont?
A: Porush was the president and chief operating officer of Stratton Oakmont, a brokerage firm that engaged in securities fraud, market manipulation, and money laundering.
Q: Has Danny Porush been involved in any philanthropic endeavors?
A: Yes, he involves himself in several philanthropic endeavors, including the Porush Family Charitable Foundation.
Q: Where is Danny Porush from?
A: He was born and raised in Lawrence, New York, and grew up in the Five Towns area of Long Island.
Q: What is Danny Porush’s educational background?
A: He attended the University of Maryland, where he earned a Bachelor of Science degree in Speech Communication in 1979.
Conclusion:
Danny Porush life and career have been full of twists and turns, from his early days as a stockbroker to his involvement in the Stratton Oakmont scandal and subsequent reinvention as a businessman. Despite his past, Porush has continued to be successful and remains a fascinating figure in the world of business.
