Arnold Schwarzenegger, Who Called Governor Salary “Petty Cash,” Ran $29.5 Million Movie Contract Through 21 Drafts in 2001

Arnold Schwarzenegger is an extremely successful individual. The legendary bodybuilder has a net worth of $450 million as of 2022. Schwarzenegger has climbed up the ladder of success from the very bottom. Moreover, he has gained all his success on his own.

Arnold began the chain of success from bodybuilding. He entitled himself as a legendary bodybuilder in the early 70s. Whereas in the early 80s, he became an action star in the movies. In 2001, Arnold got a massive contract for his role in ‘Terminator 3: The rise of Machines’. What did the contract include?  

The massive 33-page contract for Arnold Schwarzenegger 

Arnold Schwarzenegger was a massive star at the beginning of the 21st century. And one of the movies which gave him immense fame was going to release its second sequel, for which Arnold Schwarzenegger got a $29.25 million fee for his role. However, a few of his latest movies didn’t go well for Schwarzenegger, but his popularity never decreased. 

Hollywood lawyer Jacob Bloom put together the contract. The contract was prepared between June 2000 and December 2001. It took 21 drafts and nothing less than 33 pages.

In an article by Edward Jay Epstein, he wrote, “Schwarzenegger got a $29.25 million “pay or play” fee, meaning he would be paid whether or not the movie was made. (At the time, that figure was a record for guaranteed compensation.) The first $3 million would be delivered on signing and the balance during the course of principal photography. 

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He continued, “For every week the shooting ran over its 19-week schedule, Schwarzenegger would receive an additional $1.6 million in “overage.” Then there was the “perk package”—a lump sum of $1.5 million for private jets, a fully equipped gym trailer, three-bedroom deluxe suites on locations, round-the-clock limousines, and personal bodyguards.” 

Arnold refused the salary he earned as governor

Arnold earned massive amounts for his movies. As a result of his earnings through movies when Arnold became the governor of California. He felt the salary of the governor was negligible compared to his movie fees, which were estimated to be around $187,000 to $206,500.

The $450 million net worth actor even called the governor’s salary ‘petty cash‘ and decided not to accept that salary. Instead, Arnold donated his salary for all the eight years he served as the governor. Schwarzenegger even donated $1 million to the coronavirus assistance fund during the pandemic. 

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Indeed, for a person earning millions from a movie, some thousand dollars will look like petty cash to them. But Arnold used the money for the betterment of the people and donated it to them for all the eight years he worked as the governor.