Arnold Schwarzenegger may have an impressive net worth but he made a stack load of cash before he found fame in bodybuilding.
The Mr Olympia star is widely regarded as one of the best bodybuilders of all time. The Austrian native has also been named as one of the most influential people in the world in Time, but his impact on the world stretches further than that.
Arnold began lifting weights at age 15 and five years later won Mr Universe, later also being Mr Olympia champion seven times thereafter.
After putting down the weights he ventured into the movie business with his breakthrough role in Conan the Barbarian in 1982. He bagged the scary role of Terminator two years later and as he put it, He Was Back.
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Some of his other biggest films include Total Recall, Predator, Commando, Twins, Jingle All The Way and Kindergarten Cop.
With all those credits to his name, you’d think that’d be why Arnold Schwarzenegger’s net worth is at a staggering $450m. But the celebrity actually made smart moves years beforehand to get a tidy sum and set him on the right path.
Arnold Schwarzenegger – ‘Empty pockets’ to huge net worth
Born from humble beginnings, the star arrived in the States with ’empty pockets’ in 1968, when he was 21 years old.
He competed – and won – numerous bodybuilding shows but had to work on the side to pay the bills. Arnie worked in construction, and would consider $5k a ‘big paycheck’ at the end of a job.
But the star told real estate mogul Grant Cardone he was a millionaire before he got his first film role – and that boosted Arnold Schwarzenegger’s net worth before Tinsel Town got wind of who he was.
“I was a millionaire before I ever did Conan or Terminator,” he admitted.
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“I became a millionaire because of real estate.
“There was a real estate woman by the name of Olga,” he explained.
“She was from Lebanon, and she was Danny DeVito’s height. She said to me, ‘Arnold, listen to me, you need income property. When you have a house or when you have a condominium, then you have to pay the mortgage, you have to pay for the expenses, but I find you a six-unit apartment building that has an owner’s unit in front.’”
The building would turn out to be an apartment that cost $240,000, and this was in the 1970s. But this was for high-flyers, as the average price of houses in the US at the time was only $39,000 in comparison.
It was a huge risk, but it ended up being a game-changer.
Arnie explained: “Two years later, I got $400,000 when I sold the building – I put only 27 and a half down.”
He walked away with $160,000 profit, as the rental income covered the mortgage, pushing his profit through to 481%.
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