How Arnold became a self-made millionaire before becoming the biggest movie star on the planet
Arnold Schwarzenegger's career has spanned a wide range of genres. The Austrian-American dominated professional bodybuilding before turning to act, earning five Mr. Universe championships and seven Mr. Olympia crowns.
With his performance in "Conan the Barbarian" in 1982, he got his big break in Hollywood, and his films have made more than $3 billion since then. From 2003 until 2010, he was the governor of California.
Mr. Olympia
Schwarzenegger, who is claimed to be worth $300 million, however, did not make his first million in the entertainment industry.
In "Tools of Titans," he says author Tim Ferriss, "I did not rely on my movie career to make a livelihood."
"That was my objective because the folks I met at the gym and in acting courses throughout the years were all very vulnerable because they didn't have any money and had to take whatever was provided to them since that was how they made a livelihood."
"I didn't want to get myself into that predicament." Instead, he pursued a career in real estate. Schwarzenegger paid a down payment on an apartment building using the money he earned from bodybuilding.
Real Estate Mogul
"Buildings that I would buy for $500K within a year were $800K, and I put just maybe $100K down, so you made 300 percent on your money," he says Ferriss.
I swiftly developed and upgraded my properties, purchasing other apartment and business buildings on Main Street in Santa Monica and elsewhere.
My real estate investments helped me become a millionaire." Schwarzenegger was able to focus on his acting career because of the money he earned from his side job, and the rest is history.
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