Arnold Schwarzenegger, the bodybuilding icon and the co-founder of Arnold Classic, has made a bold move by justifying his decision to break a promise he made to the late Joe and Ben Weider. Schwarzenegger recently announced a significant boost in the prize money for the Arnold Classic, raising it to an impressive $500,000.

After the show concluded, during the seminar with the winners and veteran bodybuilders, Schwarzenegger explained his motivation behind this decision. He expressed joy in the event’s success, attributing it to the positive direction they are heading. Despite still recovering from the financial setbacks caused by the COVID-19 pandemic, he emphasized the ability to afford the increased prize money.

Does Arnold Schwarzenegger’s move to increase prize money would affect Olympia’s status?

In the YouTube video shared by Smart Buddy Killer, the Terminator shared, “I saw this success I said to myself that’s why I said yesterday we’re going to up the cash prize because we can afford it now and need to recover millions lost during COVID, but still we can see the direction that we’re going now.” However, he revealed that for years, the prize money remained lower than desired due to a promise he made to Joe and Ben Weider, promising not to compete with the Olympia.

However, with both Weider brothers now having passed away, Schwarzenegger feels liberated to elevate the stakes. He remarked, “Now they have passed on, and I know that Joe and Ben are smiling down from heaven, seeing how successful we are. They would want me to put a bit of pressure on the Olympia.”

Arnold’s strategy is not just about claiming the number one spot but creating healthy competition. He hopes that raising the prize money will inspire the Olympia to follow suit, fostering an environment where both events push each other to greater heights. However, Mr. Olympia hasn’t increased the prize money for almost a decade now.

The increase in the prize money!

In 2015, the Mr. Olympia officials increased the prize money from $275,000 to an impressive $400,000, a change that has remained unchanged till now. Phil Heath was the first athlete to claim this hefty sum. Meanwhile, in 2021, Nick Walker earned $130,000, maintaining the standard for years. Initially set at $100,000, the prize money for competitors saw a dramatic increase in 2023, reaching a noteworthy $300,000, as announced by The Austrian Oak, co-founder of the Arnold Classic.

This substantial rise followed the $200,000 prize awarded to Brandon Curry in 2022, marking the second consecutive year of significant growth. The pinnacle of this financial ascent was witnessed in 2023 when Samson Dauda secured the Arnold Classic title along with its newfound, elevated prize money.

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