Unlike Elon Musk, $450 Million Worth Arnold Schwarzenegger Doesn’t Believe in Famous Investment Method

Published 06/23/2022, 8:30 AM EDT
WASHINGTON – MARCH 20: California Governor Arnold Schwarzenegger looks on during a brief press conference outside the White House March 20, 2009 in Washington, DC. Earlier, Schwarzenegger, Pennsylvania Ed Rendell and New York City Mayor Michael Bloomberg met with President Obama in the Roosevelt Room to discuss the importance of investing in America�s transportation infrastructure. (Photo by Win McNamee/Getty Images)

The term Bitcoin has become synonymous with investment in the 21st century. As digital wallets keep increasing, cryptocurrencies are the new way forward for most. But not for Arnold Schwarzenegger. He is a real estate mogul who invests smartly and makes millions. Taking a note from Warren Buffett’s playbook, Arnold decided not to invest in it because he did not understand it.

ADVERTISEMENT

Article continues below this ad

 

Bitcoin is the world’s largest cryptocurrency by market capitalization. Founded in 2009 by a group of developers, it inspired several other cryptocurrencies to come to the forefront. However, Arnold is happy with his current investments. 

ADVERTISEMENT

Article continues below this ad

Arnold Schwarzenegger keeps to real estate

So what is Bitcoin? It is a cryptocurrency, a virtual currency used as a payment outside the control of any person, group, or entity. Likewise, it acts as money and removes third-party involvement in various financial transactions. Significantly, the blockchain miners who verify the transactions get rewarded for their work, and people can purchase it in several exchanges. Not an easy concept to understand. Several famous billionaires, including Tesla’s Elon Musk, invest in Bitcoins. 

COLOGNE, GERMANY – SEPTEMBER 07: Arnold Schwarzenegger speaks in his keynote about digital sustainability during the Digital X event on September 07, 2021 in Cologne, Germany. More than 200 national and international top speakers – experts, visionaries, politicians, entrepreneurs, opinion leaders and critical voices – take part to discuss in two days of a full digitisation programme. (Photo by Andreas Rentz/Getty Images)

Irrespective of most people adopting this approach, Arnold acknowledges the methods of one of the wealthiest men in the world, Warren Buffett. He had earlier opened up about not investing in Amazon and Google but delivered a punchline that echoes through the ears of Arnold Schwarzenegger and others. “Never invest in a business you cannot understand,” mentioned Buffett. 

Taking an example from Buffett, Arnold, a multi-millionaire, explained the same process. “No, I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand.” It makes sense, as many people find it hard to understand cryptocurrency. Therefore, Schwarzenegger made millions through real estate investments and was successful. 

ADVERTISEMENT

Article continues below this ad

Real estate mogul

Despite not investing in cryptocurrencies, Arnold has a net worth of $450 million. He is one of the wealthiest celebrities in the world, and his exploits in the real estate market fetched him millions. Even before he stepped onto the shores of Hollywood, he became a millionaire by purchasing small apartments and selling them for double the price. This investment helped him earn millions and placed himself as the real deal in the market. 

MELBOURNE, AUSTRALIA – MARCH 18: Arnold Schwarzenegger prepares to start the Run for the Kids charity run as part of the Arnold Sports Festival Australia at at the Alexander Gardens on March 18, 2018 in Melbourne, Australia. (Photo by Robert Cianflone/Getty Images)

Hence, he forged a remarkable acting career and made smart deals with movie directors to earn more. Arnold Schwarzenegger had a telling say in making ‘Twins’ a blockbuster and earned millions. His simple mantra of investing in areas he understands is a simple life lesson that most can follow. Proving himself to be a wise investor, he is a role model in most departments of life.

ADVERTISEMENT

Article continues below this ad

DIVE DEEPER

Arnold Schwarzenegger Knows a “Very Smart” Millionaire Who Will Takeover Vince McMahon’s Reins In WWE

9 days ago

SHARE THIS ARTICLE :

ADVERTISEMENT

Jacob Gijy

1317 articles

Jacob Gijy is a US Sports and NBA writer at EssentiallySports. Gijy finished his Post Graduation in Psychology and worked in a hospital for 2 years before his passion for sports compelled him to find his way to sports journalism. A fan of the great Tim Duncan, he is always ready to pick up a debate with anyone who does not offer the power forward, the respect he deserves.

ADVERTISEMENT

ADVERTISEMENT