Ivan Boesky was an infamous figure in the financial world known for his involvement in a massive insider trading scandal during the 1980s. His actions, unscrupulous business practices, and high-profile lifestyle served as the inspiration for the character of Gordon Gekko, the iconic villain in Oliver Stone’s 1987 film “Wall Street.”
Born in 1937, Boesky made a fortune estimated at $200 million in the stock market throughout the ’70s and ’80s by betting on corporate takeovers. However, his wealth was amassed through illegal means, which eventually led to his downfall.
In 1986, after an investigation by the Securities and Exchange Commission, Boesky was charged with making illegal stock trades based on insider information. He was fined $100 million and sentenced to 3.5 years in prison in 1987.
Boesky’s life story served as a cautionary tale about the dangers of unchecked greed and corruption in the financial industry. His death at 87 marks the end of a man whose actions profoundly impacted and forever changed Wall Street.
