Arnold Schwarzenegger’s little known multi-million dollar business BEFORE acting career | Celebrity News | Showbiz & TV
At the time he had roughly $27,000 (£22,000) from his prize money, worth roughly $182,000 (£150,000) today due to inflation, and decided to buy a building.
He spent an estimated $214,000 (£176,000) on the building with four apartments and sold it a year later for $360,000 (£296,000).
Schwarzenegger’s business mind took hold, using the profits from this sale to buy a bigger 12 unit building, selling that and moving onto a 36 unit building and so on.
Eventually, he bought a Santa Monica building for $450,000 (£371,000) and sold it for $2.3million (£1.9million), his skill for nipping emerging real estate at the perfect time was undeniable.
He was also in the perfect place at the perfect time, being able to cash in on the 30-year-long rise in the California real estate market.
At the age of 25 Schwarzenegger had already earned a sizable multi-million dollar fortune in real estate, a full 10 years before he would break into Hollywood.
