Forbes' Compilation of Notable Figures - The story of Arnold Schwarzenegger's rise to wealth
Forbes' esteemed American business magazine list is a go-to guide for the world's wealthiest people, courtesy of journalists estimating net worth since the 1980s. Their annual ranking, "The World's Billionaires," chronicles individuals exceeding a billion US dollars in personal fortune.
Recently, Arnold Schwarzenegger joined this exclusive club, with a fortune of roughly $1 billion as per Forbes. While a far cry from Bernard Arnault, the French tycoon leading luxury goods conglomerate LVMH at $233 billion, Elon Musk hovers at $195 billion.
Schwarzenegger's blockbusters raked in approximately $5.5 billion at the box office
Arnold Schwarzenegger is the second actor, after Tyler Perry, to join the billionaire club. Yet, this isn't a complete representation; while Hollywood and blockbuster cinema certainly bolstered his wealth, he derived income from other sources too. Schwarzenegger's movies reportedly generated $5.5 billion at the box office, and he made about half a billion dollars. Yet, his initial wealth came from more than just films.
Before landing his film career in the 1970s, the Austrian-American actor was a bodybuilder, winning titles like Mr. Olympia and Mr. Universe. His smart investments from this period transformed him into a millionaire. As per Forbes, he later invested in commercial real estate, business interests, and stocks. Like the role model Warren Buffett, he only considered investments he could comprehensively evaluate, Intellectually. In the 1990s, Schwarzenegger ventured into Starbucks and Google shares, an early investor in both. Currently, he owns Oak Productions or a company organizing bodybuilding competitions.
Schwarzenegger's potential mega-wealth? Two factors thwarted this
Schwarzenegger's success story includes both risk-taking and primarily hard work. As per Forbes, Schwarzenegger, during his stint as California's Governor, prohibited employees from using the word 'tired'. A constant force of energy, 'work hard and be disciplined' is who he is. Even though Schwarzenegger's political career prevented lucrative film offers for several years, his divorce from Maria Shriver, his wife from 1986 to 2011, added expenses. Had these factors not come into play, Schwarzenegger could have amassed much more wealth.
