If you were to ask him how much playing California’s governor cost him, Arnold Schwarzenegger would say 200 million dollars! That’s how much of his personal net worth declined while being ‘The Governator‘. Arnold Schwarzenegger claims some 200 million in expenses and lost income from movies endorsements during his term in office, replaced now by Jerry Brown as governor. During an interview with Krone, a newspaper in his native Austria, Schwarzenegger says that despite the $200 Million dollar price tag, “it was more than worth it.” Arnold Schwarzenegger started off as ‘Mr. Olympia’ promoting body building. After being cast in several movies to highlight his physique, Schwarzenegger hit it big as ‘The Terminator’, a science fiction box office smash hit that spawned several sequels.
While Schwarzenegger doesn’t mind the financial cost of playing politics, he does have some regrets concerning the impact on his family life. “What was much worse was the damage my time as governor did to the family. There is a lot there that needs to be repaired.” Schwarzenegger took no salary while serving his two terms as governor, and counting expenses he paid himself, like a private jet to fly from Sacramento back home to Los Angeles every evening. Talk about a daily commute!
Arnold Schwarzenegger became governor in 2003, replacing Gray Davis, forced out during a recall election. At the time, the state was already in a major financial crisis, much of it a result from the fallout of the Enron scandal. Rolling black-outs and brown-outs caused by the high cost of energy was just the tip of the iceberg. California’s entire budget was bloated with entitlements and generous welfare programs for residents, be they citizens or not.
Almost immediately, Gov. Schwarzenegger hit a brick wall in dealing with lawmakers of the California legislature and a public which consistently voted down any tax or spending reforms. Nobody wanted their services cut, and nobody wanted to pay more for them. Sound familiar? Today, California is poised at the brink of bankruptcy. Leaving office, Schwarzenegger handed Jerry Brown about $365 Billion dollars in debt, and projected budget shortfall of another $18 Billion for this year.
So now after leaving office, Arnold Schwarzenegger claims some 200 million in expenses and lost income from movies endorsements while being governor. His current net worth is estimated to be around $48-50 Million. Schwarzenegger has no regrets about the financial hit he took playing the role of governor, but does acknowledge his two terms in office hurt his family life. Schwarzenegger is married to Maria Shriver, part of the Kennedy clan, whom in recent years has made headlines for her parking violations and driving while using a cell phone.