Arnold Schwarzenegger is an icon in the entertainment industry, known for his action-packed movies and larger-than-life personality. However, beyond his celebrity status, Schwarzenegger has amassed an impressive fortune through his savvy financial planning and investment strategy. Today, we will explore the top 5 financial secrets of Arnold Schwarzenegger, including his spending habits, investments, and net worth.
Spending Habits of Arnold Schwarzenegger
Despite his wealth, Schwarzenegger is known for his frugal lifestyle. He famously drove the same car for over a decade, a Hummer that he converted to run on hydrogen fuel cells. Additionally, he avoids extravagant purchases, opting instead for practical items. For example, he is often seen wearing the same clothes multiple times and reusing water bottles.
One of Schwarzenegger’s biggest investments is in real estate. He has purchased several properties throughout his career, including an oceanfront home in Santa Monica, which he later sold for a substantial profit. He also invests in commercial real estate, owning several office buildings and shopping centers.
In fact, Schwarzenegger said he was wealthy before his acting career even got started thanks to investing in real estate in the 1970s. “I did not rely on my movie career to make a living,” he said. “I quickly developed and traded up my buildings and bought more apartment buildings and office buildings on Main Street down in Santa Monica and so on…I became a millionaire from my real estate investments.”
Of course, landing massive paychecks for movies, including the $30 million he received from Batman & Robin, only allowed Schwarzenegger to add to his impressive net worth over the years.
Investments of Arnold Schwarzenegger
Schwarzenegger has shown a keen eye for investments and has diversified his portfolio across various industries. One of his most successful investments was in a mail-order supplements company called Lifestyles of Health and Sustainability (LOHAS). Schwarzenegger invested $1 million in LOHAS in 2002, which was later sold to supplement giant GNC for $160 million.
Schwarzenegger has also invested in startups, including a company called Red Peel Beverages, which produces a line of healthy energy drinks. Other notable investments include a stake in the online ticket service StubHub and a partnership with the fitness company, Australian Body Works.
For Schwarzenegger, investing and hustling was something he did while growing up so that he could have spending money that his family couldn’t provide. “I didn’t consider it working,” he said. “It was a way to get the things that I wanted. If I wanted a training suit or training shoes, my parents wouldn’t buy them. They said, ‘We don’t have the money, so you only get the necessities.’ (So) I decided to make my own money.”
The Net Worth of Arnold Schwarzenegger
According to Celebrity Net Worth, Schwarzenegger’s current net worth is estimated to be around $400 million. He built his fortune through a combination of movie roles, business ventures, and smart investments.
One factor contributing to his net worth is his successful film career. Schwarzenegger has appeared in more than 30 movies, including blockbusters like Terminator and Predator. He has also served as a producer on several films, including The Last Stand and Terminator Genisys.
Another key factor contributing to Schwarzenegger’s wealth is his business ventures. In addition to his real estate investments and startup investments, he has also been involved in various other businesses, including an eponymous nutritional supplement line and a restaurant chain called Schatzi on Main.
Lessons we can Learn from Arnold Schwarzenegger’s Financial Success
There are several key lessons we can learn from Schwarzenegger’s financial success. First, it’s important to live below your means and avoid frivolous spending. By doing so, you can save more money and invest it in opportunities that will yield higher returns.
Secondly, diversification is key when it comes to investing. Schwarzenegger has invested in a variety of industries, which has helped him to mitigate risk and maximize his potential for profits.
Finally, use your talents to create new income streams. Schwarzenegger’s success as an actor and bodybuilder opened doors for him to become a producer, invest in businesses, and even launch his own supplement line. By leveraging your skills and expertise, you can create new opportunities for financial growth.