Forbes magazine on Wednesday released a list of America’s most accomplished immigrants, individuals born outside the United States who built remarkable careers after moving to the country. Among tech moguls like Elon Musk, Satya Nadella, Peter Thiel, and financier George Soros, one name from the entertainment world stood out: Arnold Schwarzenegger.
At 77, the actor, former California governor, and bodybuilding legend tops the chart as the world’s richest actor, with a net worth of $1.2 billion. Though down from an earlier peak of $1.49 billion this year, the Austrian-born superstar still holds a commanding lead in Hollywood wealth rankings.
The billion-dollar action hero
Unlike many of his peers, Schwarzenegger made his fortune not just through film but also savvy business investments. Forbes notes that despite major stars like Dwayne “The Rock” Johnson, Shah Rukh Khan, and Tom Cruise boasting fortunes nearing $900 million, none have crossed the billion-dollar threshold primarily through acting. Other billionaires like Tyler Perry, Jerry Seinfeld, and Rihanna have seen greater success through production, comedy, or music, not acting alone.
Schwarzenegger has reportedly earned over $500 million (pre-tax) from films alone, thanks to massive paychecks and back-end deals from hits like The Terminator, Predator, and Total Recall. However, it is his real estate and private equity ventures that pushed his fortune past the billion mark. His portfolio includes stakes in luxury properties such as the Waldorf Astoria in Los Angeles, ownership in Easton Town Center, a major retail complex in Ohio and equity in investment firm Dimensional Fund Advisors, founded by billionaire David Booth.
From Austrian army to Mr. Olympia
Born in the Austrian region of Styria in 1947, Arnold was the son of Gustav Schwarzenegger, a local police chief, and his wife Aurelia. His childhood was marked by hardship and strict discipline. At 14, he began training as a bodybuilder, and by 17, he was competing professionally. During his service in the Austrian Army, he won the Junior Mr. Europe title, which catapulted him onto the global bodybuilding stage. By his early 20s, Schwarzenegger had already claimed the Mr. Universe title multiple times and would go on to win Mr. Olympia seven times. In 1966, a trip to the US for a bodybuilding competition changed the course of his life, he never returned to live in Austria again. Though his acting career began in the early 1970s, it was not until Conan the Barbarian (1982) and The Terminator (1984) that Schwarzenegger truly became a household name. Throughout the ’80s and ’90s, he ruled the global box office and became one of the most bankable stars in history.
Arnold’s ties to the Nazi era
Arnold’s journey to success was not without controversy. His father, Gustav Schwarzenegger, was a member of Austria’s police force who joined the Nazi Party in 1938 following the German annexation. During World War II, Gustav served as a military policeman in several major campaigns, including in Poland and the Soviet Union.
Although historical records confirm Gustav’s involvement in wartime activities, there is no documented evidence directly linking him to Nazi war crimes. For decades, Arnold remained largely silent about his father’s past, especially during his political rise in the early 2000s. However, in 2022, during Russia’s invasion of Ukraine, he spoke publicly about the psychological impact of his father’s wartime trauma. “I don’t want you to be broken like my father,” Schwarzenegger said in a video message addressed to Russian soldiers. His father died in 1972, and Arnold did not attend his funeral.