Schwarzenegger worth $100 million, experts say

[Newsjock]

From Sunday's SF Chronicle.
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2003/08/17/TAXES.TMP

Arnold Schwarzenegger has a net worth of more than $100 million, his wealth founded on huge movie paydays and hefty stakes in a portfolio of private equity funds, according to tax experts' analyses conducted for The Chronicle.

The estimate was described as conservative by the three tax professionals who reviewed information from his 2001 U.S. tax return. But it gives the clearest view yet of the fortune that Schwarzenegger amassed during a 25-year career as a Hollywood action hero.

... For example, in 2001, he:

-- paid $383,000 for household help.

-- paid nearly $1 million to investment advisers.

-- borrowed an estimated $10 million to buy stock.

-- lost more than $10 million on an unusual venture in which he bought a jumbo jet for $133 million and leased it back to its original owner, Singapore Airlines.

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[PartyPooper]

1. $100 million is an extremely conservative figure.

The reports I read earlier in the week pegged his assets in the $800 million range.

:dunce:

[JackSwift]

2. California candidates have to make

thorough financial disclosures and I think its public. If he's only worth 100 million, then he's squandered hundreds of millions.

[bhairava]

3. The real Hollywood secret

As someone somewhat familiar with the business structures and practices in Hollywood, I would say that the figure is off by a factor of at least four or five possibly even six. I'm always amused at the Forbes 400 lists which seem to have very few H'wood people on it except for the obvious ones. I think most people would be shocked at the real amount of money swirling around L.A. Plenty of producers and even actors are in the 100M plus range. Remember when Jim Carrey's ex-wife sought to increase his child support payments (10,000USD per month was not enough)? She documented a lifestyle congruent with a centimillionaire. He is living LARGE. Back on topic; hiding assets is a fine art and exacting science. You can be sure that the masters of this are located in LA (and, of course, Miami where not coincidentally you find a subset of industry types). Remember when the IRS under Clinton was finally going to clamp down on the Byzantine, bogus tax and business practices in Hollywood? That went nowhere! The industry is now one our leading exporters.

[newyawker99]

8. Hi bhairava!!

Welcome to DU!! :toast:

[Democat]

4. There is nothing wrong with being rich

Almost every American voter would love to have money like Arnold. Too bad he is surrounding himself with some people who want to try to keep middle class Americans from ever reaching that goal.

Vote no on the recall and yes on Cruz!

[pretzel4gore]

5. many people say that...

fewer say there's nothing wrong with being poor either.....especially considering certain types (teachers, scientists, test pilots not to mention poets artists or regular workers etc) have no interest in money, or minimal expectations from its possession....
most human beings are poor by necessity.
a society that worships wealth is fucked (cuz it's stupid)
i hope california gives davis his elected office...if it doesn't(!)

[ElsewheresDaughter]

6. i read last week ahhnuld was worth $800 million

:shrug:

[tsipple]

7. Jumbo Jet Venture Not "Unusual"

Airlines do not typically own aircraft. They lease them from myriad owners, including wealthy private individuals (such as Arnold), corporations in totally different industries, groups of wealthy individuals, and specialized aircraft leasing companies (such as General Electric's). There are certain tax and liability advantages to this practice.

[jmm]

9. Wonder how much he'll donate to his own campaign?

:eyes:

[NNN0LHI]

10. This article is BS. He won't release copies of his tax returns to anyone

It was a take a peek and snatch them back kind of a deal. No copying was allowed. No way to check anything for accuracy. If they were an accurate representaion of his net worth he would have allowed copies to be made. He could have shown them anything. This is more smoke and mirrors.

http://www.siliconvalley.com/mld/mercurynews/news/special_packages/recall/6506298.htm

<snip>The returns, however, do not provide enough data to estimate his net worth or assess his performance as a businessman and investor.

<snip>Schwarzenegger made the tax forms available to reporters at a hotel conference room, but did not allow them to make copies.

He files separate returns from his wife, NBC reporter Maria Shriver.

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