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Despite Losing “$4 Million” on Bodybuilding in 2020, Millionaire Arnold Schwarzenegger Had Zero Regrets: “Athletes Needed That Prize Money More Than I Did”

Published 01/18/2023, 9:15 AM EST

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The last three years have been extremely difficult for people all around the globe. The world was all about helping people in need. Arnold Schwarzenegger and Jake Wood were two such financially strong helping hands that kept the bodybuilding sport high when the bodybuilders needed them the most. A professional athlete manager named Matt disclosed the enormous $4 million loss Schwarzenegger had to endure during the coronavirus pandemic in a podcast. Moreover, The Austrian Oak commented on his Instagram post to thank him for his kind words.

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What did Matt reveal about the two-year loss Arnold and Jake Wood faced? Furthermore, what did Arnold say in reply to his appreciation post? Let us find out in detail.

Arnold Schwarzenegger knowingly suffered a loss of $4 million


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The entire world was in a shutdown mode when the pandemic hit. Millions of deaths, hospital emergencies, and several health problems came to the forefront. But when it came to bodybuilding, because of these two massive bodybuilding lovers, the show kept going. While talking about the brilliant work by Arnold and Jake, Matt said, “How much money did Jake Wood lose putting the Olympia on against all odds? If it wasn’t for two extremely wealthy guys that love bodybuilding, where would we be right now?”

While talking about the money Arnold lost, even when he knew beforehand about the consequences, Matt said, “He (Arnold) lost $4 million two years ago. Last year he did a show with no expo, no nothing, and he raised the prize money knowing he was going to lose. I feel like nobody is coming to bat for him, and if it wasn’t for him, none of us fu***ng be here. And that’s the truth.”


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How Does Arnold Schwarzenegger Spend His $450 Million Net Worth

The uninterrupted events in those two years immensely helped the bodybuilders and the whole supporting crew during the difficult times of the pandemic. After watching the video, Schwarzenegger expressed his views on the same. Let’s look at what Schwarzenegger had to say about what he did and why was it important.

Schwarzenegger had a sense of responsibility 


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Arnold Schwarzenegger has been a promoter of bodybuilding since the late 60s. He was the face of the sport during his career. Moreover, after his retirement, he became even more significant in bodybuilding with the massive amount of work he put in for bodybuilders and athletes across the world. 

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Arnold responded to Matt’s appreciative post by commenting on it. Schwarzenegger wrote, “I tell people the most important thing you can learn is the difference between spending, and investing. Spending is a loss, but I consider the past few years an investment in the sport of bodybuilding and our fitness crusade. I also know it was a tough time for a lot of people financially and the athletes needed that prize money more than I did.”


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Watch This Story: 75 Years Old Bodybuilding Legend Arnold Schwarzenegger Hitting the Gym Like a Beast

Whether it be pandemic days or any other time since he made his debut in pro-bodybuilding, Arnold Schwarzenegger has made a tremendous contribution to the bodybuilding world. What is your opinion regarding Arnold’s contribution to the bodybuilding sport? Let us know in the comments section.

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Written by:

Kaivalya R Pillai


One take at a time

Dr. Kaivalya R Pillai is a US Sports author working at EssentiallySports. An accomplished academician, he recently completed his doctorate degree in pharmacy.
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Edited by:

Simar Singh Wadhwa