Arnold Schwarzenegger Opens Up on the ‘Worst Advice’ He Ever Received, That Still Ended Up Being a Boon for Him: “$15,000 Property Is Now Worth $15,000,00”

Published 10/30/2023, 11:30 AM EDT

Follow Us

via Imago

Arnold Schwarzenegger has amassed a staggering net worth of $450 million. The 76-year-old is the richest bodybuilder by a massive margin. However, very little of his massive wealth came from bodybuilding. Even today, bodybuilders earn less than athletes from the MLB, NBA, NFL, and many other sports. In the 70s, bodybuilders earned even less. However, Schwarzenegger was smart with his money.

America’s Favorite Video Today

The bodybuilding icon invested most of his earnings from competitions, photoshoots, and sponsorships. Arnie even loaned $10,000 from IFBB co-founder Joe Weider for real estate investments. However, like every novice investor, Arnold Schwarzenegger also made a mistake after following “the worst advice” he ever got.

Arnold Schwarzenegger at first thought the investment was a good idea

ADVERTISEMENT

Article continues below this ad

Schwarzenegger recounted someone advised him to buy land in the Antelope Valley in California. The Austrian Oak had recently arrived in America and had earned some money to invest. The bodybuilder had bought that land because his advisor had told him about plans for a supersonic airport that would be built on the land. However, Schwarzenegger did his research before investing.

“I saw it here in the papers that the plan is to build a supersonic airport, which is around 60-70 miles away from Los Angeles,” said the 76-year-old while speaking to Ryan Holiday. It was $15,000. I had $5,000, and they put that down and the rest of it they paid off,” added Arnie. However, two years later, they canceled plans to build an airport for supersonic transport.

Trending

Get instantly notified of the hottest Bodybuilding stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

The government passed a law that forbade sonic booms over land, especially near residential areas. Fortunately, the man who advised him to buy it came to rectify his mistake. He advised the bodybuilding champion to keep the land “for his grandchildren.” So, the Mr. Olympia winner did just that. “This $15,000 property is now worth $1.5 million… but it took 55 years,” laughed Schwarzenegger. However, Schwarzenegger wasn’t the only one to fall for the supersonic travel hype.

Watch this story | Inside $450 Million Worth Arnold Schwarzenegger’s Insane Real Estate Empire

ADVERTISEMENT

Article continues below this ad

Why it seemed like a great idea

While Arnie made a bad investment worth $15,000, he eventually recovered and multiplied it many times. Yet, entire governments spent billions developing supersonic tech, only to abandon it. During the 60s and the 70s, the supersonic transport (SST) hype was at a fever pitch. People had entered the jet and wanted to travel faster than ever.

ADVERTISEMENT

Article continues below this ad

In the 60s, Boeing, Lockheed, Douglas, Corvair, and North American Aviation poured billions into developing SST airplanes. England and France teamed up to build the Concorde. The world raced to make the first commercial SST and usher in a new age. However, these plans ultimately proved unsustainable, and the supersonic bubble burst. While Schwarzenegger emerged financially unscathed, many might have not been so lucky.

SHARE THIS ARTICLE :

ADVERTISEMENT

Written by:

Sagnik Bagchi

1,572Articles

One take at a time

Sagnik Bagchi is a senior sports writer at EssentiallySports who writes for the bodybuilding division. Holding a Master's Degree in English Literature from a top university, he uses his hold on language to weave interesting stories for our readers. A passionate bodybuilder himself, Sagnik uses his knowledge of bodybuilding to bring a unique perspective to his coverage of the sport’s events and athletes.
Show More>

Edited by:

Abhishek Manikandan

ADVERTISEMENT

ADVERTISEMENT

EDITORS' PICK

America’s Favorite Video Today