Should I fire him? He really needs this job?

There is an employee working under me. His name is (made-up) Jake. So anyway, when we were in High School Jake would torment me relentlessly, and he would occasionally get physical. I was a nerd, always striving for the best grades, and he made fun of me dreadfully for that. Anyway, after we graduated High School (Or rather, I graduated) we went our separate ways. Studying paid off, no matter what he said, I became extremely successful with my yearly salary being over 400,000 a year, and I own my own company. Somehow he found my phone number and is always calling me and torturing me, even though I'm now 44 and he's around 50. Ironically, the last time he called to curse at me and insult me was three days before he applied for a job at my company. I interviewed him anyway. He is an alcoholic who has had love affairs with prostitutes and four or five illegitimate children and even went to jail once or twice. He has been fired from every possible place he could work at in the district. Thanks to some very intelligent (sarcasm) people here on Yahoo Answers I hired him, despite all my other rivals in business telling me it was the worst mistake ever. Well, he never does anything (he's the coffee courier) and he drinks all the coffee. He jut lies around all die and still makes fun of me! I can't stand it!!!!!!!!! Should I fire him? I'll feel really bad though... :( Help please? Thanks.