Seven-time Mr. Olympia Arnold Schwarzenegger is the richest person there is in the realm of bodybuilding and fitness. With a whopping net worth of $450 million, it wasn’t just plain luck that helped ‘The Austrian Oak’ get rich. He took business classes in his youth, which made him realize the magic of compounding and investing. Apart from just stocks and bonds, he has always been investing in real estate as well.

However, not every investment goes as planned. During his time at the ‘Fly on the Wall’ podcast with Dana Carvey and David Spade, among many other things that the trio talked about, Schwarzenegger also explained about an investment that did not go as planned. However, he did get a fortune from it years later. 

Arnold Schwarzenegger discloses the LA Airport investment 

From a small village in Austria, Schwarzenegger grew up in difficult situations and had a tough life. While he always dreamed of coming to America, he made sure to do everything in his control to become rich, too. He revealed during the podcast that he once invested in a land that he was told would turn into LA Airport later. However, things went downhill when “They passed a law, an international law that says no supersonic aircraft can fly over land. So they’re only over the ocean. So that killed the idea,” Schwarzenegger said. 

“And so they kept the LA Airport here. So my investment went down the tube. So everyone was laughing about it,” Arnold stated. While this came as a shock to Schwarzenegger, his friend and mentor Joe Weider gave him golden advice that turned out to be effective years later. 

Joe Weider’s advice to Arnold Schwarzenegger 

Arnold Schwarzenegger has always been close to Joe Weider. A while back, three times Mr. Olympia champion Frank Zane also revealed, “Arnold was like an adopted son. He [Joe Weider] loved Arnold because he was huge,” said Frank. Weider brought Schwarzenegger to the United States early in his career and helped train him. Weider was like a father figure for Schwarzenegger who always had his back, no matter what the circumstances were. When Schwarzenegger was in this slump, Weider was the one who advised him to not worry and to hold his investment. 

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Schwarzenegger further explained this by stating, “But here’s the thing. Joe Weider said them, he says, “Arnold don’t worry about it. This will be a good investment for your grandchildren, keep it. Forget about it.” I did. I totally forgot about it and I kept it.” Holding the property as suggested by Weider turned out fruitful for the bodybuilding veteran. The property later was worth one and a half million dollars. “So I didn’t even lose money on that investment,” he concluded.

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What are your views on Schwarzenegger’s smart investments? Let us know in the comments.