Arnold Schwarzenegger's Secret Weapon

successful businessman. Very carefully chosen. The people that I work with is Arnold. It's kind of my model to be people who do have that business gene. Then it becomes very hard to work. And I learned from Arnold they have to have that instinct. For more than forty years, he pioneered a strategy of not just endorsing, but investing, buying real estate and airplanes, and partnering on everything from

Planet Hollywood to Hummer. His secret weapon an adviser and banker named Paul Walkeder that Schwarzenegger met in the early nineteen eighties. Schwartzenegger encouraged walk Her years ago to ditch investment banking and hang out of Shingle in Santa Monica. Walkeder, through his firm Main Street Advisors, has continued to advise Arnold and subsequently used that same template to work with clients from Lebron to Billie Eilish, helping create companies like

Beats by Dre and Lobos Tequila in the process. I recently got a chance to sit down with Paul and Arnold in l A to talk about their partnership, how the world of entertainer and athlete investment has exploded, and what even the non famous can learn about building wealth. Talk to me more about that notion that you saw very early on, theory early in your career that you wanted to have a serious business in addition to what you were doing as an athlete as an entertainer. Why

what opened your eyes to that early on? I was fascinated about the fact that you can't make so much money, for instance, in real estate. So I got into real estate and um and it was also at the time where we had a high inflation, and so the real estate went up every year but ten percent and fIF So if you own a million dollar building, it went up a hundred and fifty thousand dollars. So at that

time you could have booked your ass off. And we've never made a hundred and fifty thou dollars and there's an investment. You don't have to do anything, just wait until the years over and then you have the properties worth a hundred and fifty thousand more. So it was it was clear to me that I was interested in investing. But also remember that I studied business when I was in back in Austria, and there will be specialized specifically

in marketing and in selling. And little didn't know then that in life, no matter what you do, it always involves around marketing, how to populicize and how to sell. It doesn't matter if you're in a business of movies, or if in a business of art and paintings, or if in sports, if you clothing. No matter what business you're in, you have to go and let the world know that this product exists and only then are you able to sell. And then you have to also be

a good businessman. So I, somehow, through some miracle reason, I had this early training from the time I was fifth into the time I was eighteen in Austria, where it was actually a salesman studied business in the school and studied, you know, how to do business, how to make money, how to do the accounting and offer this stuff, and so that was very helpful. But the rest of my life. I never knew then that I would use

those kind of talents the rest of my life. So I was always was interested in business, and therefore I had this kind of great advantage. So they've when I started making a lot of money in the show business, I knew what to do with this money, and I knew how to go and hey through my investments for the taxes and never really worry about, you know, having an offshore corporation, any of those kind of things that that that I despise, all of the stuff that that

you try to avoid paying taxes. Always was a guy that was interested in paying taxes, but I always wanted to make sure at the same time that investment money so that I make up for that. But those kind of payments that you give the I s Paul, That's that's atypical, to say the least right for someone to come into a career thinking that some people come up

I mean, you have deep experience here. What were your observations of Arnold in those sort of early days, having come to the table with that kind of expen well, it was clear to me from the beginning that he was interested in business. I don't think it would have ever worked out for us to work together if you weren't interested in business, if he had just said, I

don't know anything about business, go figure it out. The fact is he was a partner to me in it, and he came with a very different perspective than I had. So I've learned a lot over the years from him and other people. I think I have much more of a marketing gene now and I understand all that, but coming in I was more of a financial person, and so I learned a lot about marketing and sales and

things like that from him. I always say that whoever that guy was that taught Arnold sales in Austria, and like, you know, whatever year that was, they should should build a statute to him or something, because he was obviously really good. But you know, Arnold was always had that uh sales and marketing gene. And I was saying I was saying before that I don't know if he was the first person, but I think he might have been the first person who kind of traveled around the world

promoting his movies. Because first of all, he had a global perspective, which I also did, and when I was a banker investment bank a lot of clue then as well. I worked at Israel, I worked at UP so that thing, which was unusual for most Americans. So he had a global perspective. But also he was always thinking about selling. It was like, if you if you do something or you make something and you can't sell it, what's the point and so and that was true of his movies.

And so he was on Johnny Carr. That's how I first knew who he was because I wasn't. I mean, look at me, I think I was a bodybuilding I'm actually not, but this is a podcast. Yeah, I'd see him. I've seen him on Johnny Carson many times, and I just found him so interesting because he was such a great salesman and he would do this thing with Johnny

Carson and I watched. I was a big Carson fan, so I kind of knew his rhythm where Arnold would just segue right into selling and Carson always got the joke and he always has kind of led Arnold to the point where Arnold could go, oh, and by the way, I'm just coming out with a movie, and it was like an inside joke between the two of them. And so I think when you asked that question, I wouldn't have been as interested in what we were doing if I didn't feel that he had a business gene and

would be business partner. He just didn't. And obviously I have certain skills and finance and things that I have, but some of the stuff he talked about, like all the planet Hollywood stuff before I started, that was really one of the things we worked on while I was still an investment banker before and I think we together did a great job on that, and it was a great thing. And I remember once he called me and said,

I want to buy Santa Clarita Studios. Drive up there and look at it, which is way the hell up and Antelope Valley in your Magic Mountain, And I was just like, what is complain? You know, what is this?

Actually probably wouldn't have been a bad today, it would have been an incredible asset that so he was always thinking like that, you know, I was thinking about investing, thinking about business, thinking about market and yet your peers were not obviously keeping honest here Arnold like they would make a movie, didn't sort of move on to the next one. They weren't going and pitching it around the world. They weren't maybe as aously courting the Carsons of the

world to do that. Might do some endorsements here and there. But what did you see that that was missing? Well, I don't think there was anything missing with those guys. I think they were very, very talented actors. That but that was the craft, that was their talent. They were extraordinary actors, but they were not necessarily businessman. So them when the agents said, look, I can get you those days a million dollars with a lot of money, I can get the million dollars a movie, those guys were

very happy. But they didn't think about it beyond okay, theft, if you pay taxes and then you have my staff have my right off maybe business us or the expenses and that all those kind of things. They didn't think that. It was just oh, I'm so happy that they get this money, and that was it. And there was a

business manager that then took care of the money. And you know, who knows what they were doing, right, I mean, it was like a lot of those actors eventually lost the money and they had nothing, and oh the I s in the millions of dollars and so so. But this is because they were actors in the businessmen. I happen to have the talent at first. I came from business, then I went into bodybuilding, then I went into acting,

So I have a totally different approach. Also, let's not forget that I have the advantage of having come from Europe. So when you come from Europe and you've traveled now with bodybuilding, the entire world doesn't matter. If you go to Australia or to African countries, or you go to Asian countries, European countries. You all over the place in order of America, South American, North America in orders, so

you covered the world. When went into show business and they started doing movies, I remember they be set down with Universal Studio and they said, okay, if you're gonna go and send you with Conan the Barbarian to France and uh to Germany and to Japan. So I said, my only three countries. They said, well, this is our biggest bias, and the other ones are not really up to par with our movies that do their own movies

noticed stuff. I said, well, isn't it time that we go and promote our movies also in the countries they are not yet very independe official and bring a lot of profits. And they said, no, no, no, I don't want to do that. Actors don't like to fly around the world. Anyway, I said, was let's were not a map and let's go on the side. Now which countries

we should go? I would like to go to ten countries, just to make it up ten countries and they said you would I said yeah, it's all of a sudden, they said, yeah, well, actually we always wanted to stand someone to Norway into Finland and the Nordic countries in Europe also would like to go, and have you go to Italy? How about Spain? And said, yeah, Spain. We shot the movie Coming to but Bar, and of course we should go to Spain, and then then we go to Japan and then we go So now we made

up ten countries. And they called me back after this honor. This was such a hit. Now those countries want to buy other movies of ours in blap bla, So I mean, it was like a no brainer. For me that you say the world it's the marketplace, not just the United States, not just Japan, not just Germany. The world is the marketplace.

And if it isn't yet there, let's build it. And I of course thought about it a bit selfishly at the same time, because I said to myself, if the studio is paying for me to travel around the world to promote the movie, well who is this going to benefit and the staff of the movie I'm going to benefit from that. And so I always looked at it as kind of like in a synergy in a synegy way, that you have to go and think about your own career,

your own name, how to build that up. So I think that those talents of marketing, publicity, business, and then the national vision of that is because of my background, and I don't expect other people to have to naturally, if it doesn't matter if you're a lebron or if your mark spits, or if your shoe nameth or anything like that, any of those speaks athletic names, you know you don't you don't get good in those areas just because you're a great athlete, right right, And so let's

talk about plann at Hollywood because as you look back, what was in your mind when that came across, well, the original office and a lot of the deals that I have done was always we would like it to endorse this, and all you have to do is take a picture with it and we take a picture together and you come to the original opening of you know, bags ship rest around us or whatever it is, whatever product is, and uh, and that's it. It makes a certain amount of money, and I always felt kind of

like it's not as organic. I didn't want to be just doing a commercial and get the money. I always felt like I should get involved. To Planet Hollywood was one of those, because you mentioned it a good example where I said, well, you know, I don't want to just do a commercial or I don't want to just do an endorsement, but why don't I get involved? And they have a certain small ownership of the business, and so they said, oh, would you want to do that, and they said yes. I said, give me no money.

I don't want no money. I said, I'm not cash poor. I said, luckily, I've always invested my money. Well, so I said, I'd like to take a little risk myself. I see, I'm not scared of risks, and they said, you would do it Jesus business thinking kind of a mentality you got there, and I said yeah, I said, let's just do that. And they said wee we made this deal. And then I helped them. Attended came part

of the business, part of the decision making. And then I talked to me into that we should also have stall loan, and then we should have Bruce Willis and will we go back, and the list went on and on, and all of a sudden, we had like twenties celebrities that were able to travel all over the world and create sometimes up to forty fifty thousand people participating in an opening of a planet Hollywood, I mean in London.

They said, we haven't seen that many people since the Beetle Beetles performed, And so this is the kind of crowds that we got. It was all because celebrities were involved. It looked organic. It didn't look like just an indorsement. It looked like they were really involved because they went to the various different locations and openings. They're moving memorabiliers

were inside the restaurant. So there was like a real feeling like we have given up all of our memorabilities to scatter them all over the world, which we did, and then they had to make copies of that because of course the restaurant business grew so fast in orders, so this was like a huge coup. And you know, by the time I sold this whole thing, you know, tens of millions of dollars with no investment of it.

So people were then shock and said, gieve, you made the second most amount of money of anybody in the business in the planet, Hollywood business. How did you do that? I said, well, I said, I'm a businessman. I know exactly how to do it and when to sell in order stuff. And of course Paul was right there, Main Street Advisors was right there and every step of the way helping me. Laid on after we went business already

for a while and in order. So it's the same thing with Autumn b K. They came to me and says, we would like to do a watch with you, and then of course one of the greatest watch companies, and I said, well that would be great. I said, let's do watch. What can we do together? And they said, well, you tell us, they said, what I'm doing a movie right now? End of Days. I say, how about creating a black watch the royal oak, which I love. I said, the royal oak, and we make it all black. And

they said, the way it's a don't all black? Would not sell people like colors. I said, ah, then let's go and make the numbers yellow if you like color. They said that it's just too simply, wouldn't work out a Rather, it was the big thing. Said that's the watch that we're gonna do. It's gonna call be called the End of Days watch, and that's it and that's all. And then they said, oh god, okay, we want to do watch me no matter what they say, Okay, okay.

So they did it and they immediately called me back when the watch came out and says, we are sort out anyone's through the roof. How did you know that? So anyway, the bottom line is I realized that you can make millions of dollars in the watch business if

you involved in the design. I went over there to automobic to the factory and they put on my white coat and the mask around the mouth, and how the scientists they are round around the mechanics noticed stuff so that there's nothing that gets down on any of the mechanisms of the watches, and it's a gimmick, probably a lot of it, but I mean that the bottom line is, you know, I went to the whole thing and to show people that are actually sitting there with the watch

designer and we're designing the watch, because at that point now we were designing the Terminator three watch, and so this is how it went from one watch to the next week. Then after that we did the sixth Day Watch and the Day's Watch, the Terminator Watch, and when every movie did the watch. Now the millions of dollars that I get paid for this was actually not for myself.

It was for the after school programs. So I said to myself, I'm gonna go and have my favorite charity we just started in the nineties, and said, all of the money that I'm gonna make with the watches, I'm gonna put into the charity after school programs for those kids,

because the kids are best investment, right. So that was the idea and all of my Bika was very very happy with that idea that I wasn't selfish just thinking about myself, So they made any deal that I wanted to make, I said, tells so many millions of dollars for this watch, tells so many millions of dollars, but this watch, and they just paid it because they said it's for a good cause. I know this is not

taking it themselves. So this is another concept. Okay, did the way you go, you know, kind of against synergy where you go beyond just you know, making money, but how you can donate the money and their whole thing. But anyway, it was in the watch business, it was like that. And with the airplane deal, I remember it was like that when the Singapore Airline says said, you know, we don't want to own all of our planes. We want to go and have someone else buy the plane,

remember that, Paul. And then they said, you won't have someone else buy the plane. Some institution and pensions or whatever they buy the plane and we least it. So I said, why shouldn't I have a Singapore Land plane? You know I have the money to buy it was a hundred exactly. So to we bought a plane and Paul made the deal. We palled, we bought the plane, and we had the most extraordinary investment. Because now not ten years later then it is it is you know,

you have to plane. Now the least is over. Now you can go and sell it. But they now it's it's of course it's a devalued down to sixty million dollars hundred thirty four million dollars, but now the plane still sort for a hundred million to night, I mean the extra forty million dollar investment, not even talking about all the write offs that you had, because I had my own private plane of course that I flew around with all the right offs there. So this was a

huge deal. But we literally tripled out quite tripled our money in the short period of time. So anyway, so there's the kind of things that I do and then Paul helps me with and the idea of it all

is that all. And I think we're celebrating kind of like Main Street Advices because it has been now in operation for how long twenty five years now, And we talked about that how he now for twenty five years has helped other celebrities that don't have the talent of this, not because they're idiots, they're smart, but it's just a special talent. It's like having a talent of playing basketball, being a bodybuilding champion of wait, and then they don't.

You're not born right away with the same talent of being a businessman and understanding numbers. And so Paul has been helping those guys. Uh. And Paul can tell you about the whole list of celebrities that then music, that then sports, then you know, in various different sports people that are record produces, people that are in the record business in different business but their talent is to produce records, not necessarily how to do business and in artists and

all of the and stuff. So Paul can talk more about that. But I mean, I mean that is the fascinating thing about Paul is that he adopted to this. It was a new idea, but I knew he's gonna adopt and then only adopt, but also then add his intelligence and his know how do the whole thing and then make two and two become six. You know, so he defined math. I would say, uh, not being modest about it, I'm honest about it. I think I've very carefully chosen the people that I worked with, is Arnold.

It's kind of my model to be people who do have that business gene and they may not have the finance background or the some of them may be great at math. Some of them aren't, but they have the business gene because when you don't have that gene, then it becomes very hard to work. And I learned from Arnold. I'd say, you know that that as looking for clients, that the people that I work with they have to have that instinct because otherwise they don't get it. And

the people that I work with do get it. And a lot of it is time. People who are you know, athletes musicians actively don't necessarily a time, but they have to have the instinct. And also in some cases they have other people around them who were really good at business. So but but I learned a lot of this from Arnold, and I built this business based on lessons like work with someone who gets it and who has that instinct

and that um aptitude. Also, which he hasn't said, but which is the lesson I think that he most importantly drilled into me at the beginning was authenticity, Like, don't do anything that is an authentic for the person. So if you have, you know, like when we did Beats by Dr Drey with Jimmy and Dre, well, what could be more authentic than uh, you know, a muse sick producer and a label executive, was also a producer and

also an engineer. Come out with a headphone. You can't get more authentic, right, And so all all of the things that we've tried to do sort of tried to stay in that lane. And as I said, I learned a lot of that from Arnold. But again, if if you don't have the aptitude, it's very hard. So there are a lot of people who have it, they just haven't developed it. They haven't had the time, and they don't have the people around them, which is where I

kind of come in. I'm someone around them who can help them develop that, and then I can also be helped by them because like they may be great at marketing or you know, or they may created sales, or they may be great at something else in business, which is what I found. So if you go, I mean, you know, Jimmy Ivy and as good a marketer as I think there is in the world, and as a label executive just so happens, he's great. This guy is

like invented marketing, you know. And I think I mentioned to you that, you know, in about I was driving around on a golf cart with Warren Buffett. We were in a like golf tournament together and he I don't know. He says, has Arnold doing And I said, oh, he's great. You know this is obviously before governor stuff. And he said, what a brand? And I was like, what what do you mean? Goes Arnold's brand? Because he's an incredible brand.

He's one of the best brands of the world. It's like, really like, I never had thought of that, because people didn't talk like that. Like today you go Arnold's brand, Lebron's a brand, right of the jay z is a brand, like there are people who are brands, and but at that time you didn't think like that. And again it goes back to the fact because the Mark Spitz or whoever, Joe Namath even they were endorsing things, so they were

endorsing a brand that wasn't their brand. But listening to arnold story, one of the geniuses of all that was because as he traveled around the world promoting his movies, he was building his own brand until he was a brand, and his brand was bigger than the movies, than each individual movie. And that's where we are today, which is why I think when he can do something like the video, the Russian video he did. His brand is so big all over the world, in Russia everywhere that people know

when they see him what that stands for. And that's the definition of a brand. They know it stands for honesty and authenticity and it's not like, oh, it just stands for someone who's shilling. And so I've really learned that and I've really tried to pick people who are authentic to that, you know, and and not ever to push like we were developing an Arnold's involved with this to a kill a company with Lebron and he's very passionate about it, but it's very honest. He loves tequila

and he loves this tequila. At this point, what's the what's the point of pushing things that you're not honestly, And yet you look out in the world and what you see is a lot of people are sitting agents and lawyers and uh, people sitting around going oh, I represent so and so I better find some business to build. No, wait till they come to you and say, I love

whatever you know. And another example with Arnold, which I I think it's really it's the Hummer example, because that was another deal he uh gave of the money to charity that but but he was driving around in a military hummer trying to push General Motors to build a civilian hummer. Well when he when the hummer, the civilian hummer came out, nobody doubted he wasn't. He wasn't like chilling for Bewick or old SMA, which wouldn't be believable maybe or say eighties would be believable or BMW. But

Hummer was really believed. And so I think sticking to that is what works. And you know, in today's world, you know, it's it's gone a little sideways because you have people who are not celebrities who are so influential, they have a hundred and fifty followers and they've never done anything actually, and you know, I don't know, it's yet to be seen to me whether they can successfully build businesses. Obviously, the Kardashians have built some very successful businesses.

They're kind of in a corn, you know, on another planet. But you know, one thing you know is that if you understand the brand of a person and they are selling something that's authentic to them, it's probably gonna work. I think when people see that, they know it is really this is what I think with Warren Buffett talked about because Warren Buffett, and it came to me, what do you think about this with me buying in a net Chet? And I said, the it's a great investment.

And he said when you say that, said because I now fly a plane, a private plane, and he said, you're doing I said yeah. I said, but that disadvantage of the private plane is that you own is simply that you are now responsible for the plane. I only flied two hundred and fifty hours a year. What about the other seven dred and fifty hours? I say, imagine now with net Chet, I said, there is fractional ownerships that they're offering. Now, I said, you don't have to

own just the whole plane yourself. You can own just a quarter. You're You're right. He bought in the company. We started tell him. Then he took me on the road. I went to Ireland, within the Scotland, to England, the orders, various different castles in everybody we had we had this presentation and he dragged me around all over the place to talk about my experience with the plane. Why because

to show authenticity. Authenticity is the most important thing. Here's a guy, a celebrity that wants to fly with the commercial rain but can't because when he arrives with a commercial plane off the ten off flight, he's standing at the luggage area and then the people that bombardy him with autographs and pictures and this and that, so he you know, he can't do all of this and then

get to the hotel quickly for the press conference. And there's so he's flying our private brain and so he got it is for me to talk about it enthusiastically about private plane flying and the advantages for executives. Is it he bought the company and he went through the roof and you know, one of course doesn't do anything that doesn't go through the roof, so he knows exactly

how to do that. And he said, I admire him so much because he's kind of like really, when I visited his office, it was just you could really get it with a brilliant man. He is within operation, he has in order. So so this is the kind of people that I like to study. This is the kind of people that I like that that that helped me. He was the first one. Of course, they too endorsed me when I ragn for governor because he knew that

I have the business mind. That's why I said, because I enjoys it, because you're the only one is the business mind amongst those politicians that can go India and straighten out the mess. It was really great to work

with him. But it's all about authenticity. And so as you look at this sort of generation coming up, whether it's I mean like Lebron and others and even younger were at this time where this is a given some extent that an athlete, entertainer or a musician, they are going to start doing this at a very early age. What do you advise them? What's your advice to them? If if Paul introduces you to a new young audition,

what what do you tell them? Help? And I have to write students and I feel like I'm in the carson right. The thing is because it would cost you money, because Paul and Mainstree Advices is not working for free. But as I always say that, if someone wants to take let's a ten percent of my business, of my money that he makes for me, I'm the happiest kind of the world that they have not n of money

that the normally wouldn't have. So the bottom line is you need to know that this is a very very sophisticated and complicated world out there when it comes to business, and it is such an enormous potential that is available and the money is that you can make the whatever you're into, music, whatever, all? Would they know how he can connect you to businesses that it looks organic because

you're involved in business. If you have a great talent, you're going through the roof, you're becoming very popular in your business. Make sure not to just think about your business, but there's also something like business business, and and and and you've got to concentrate on making one dollar and the two and you've got to concentrate on Okay, now you're twenty two years old and you're making millions of dollars. Would you really make those millions of dollars when you're

sixty five, seventy and seventy five? How would you have that money? Then? Someone needs invested today. Someone has to be advising you. Someone is to guide you through. Every single person. If I go now and I want to learn how to do yoga, our hire yoga instructor. Every one of those actors that the mostitu stunts, they go to stunt guys to stunt coordinated and how to do stunts and the same things. With this, you cannot go and improvise on this. You've got to go and get

the help that he's helping you guides through this. That is what my advice is that leg I said, it doesn't matter who you are. If you're talented and want some area in some area and you you're making a lot of money, your advice to someone knows how to make this money, make you know, multiply this and keep it and pay your taxes. In all of this, who's the next Arnold Paul? He's one of one? But how do you how do you in your business find a

guy like this? Honestly, he's one of one, and anyone who could compare to him, right, I think that would be I think Lebron has a lot of character reminds me of aout as certain characteristics ever months um and that he's definitely not as good looking, You're not as tall, it's embarrassed, but he has certain some of the same characteristics, which are you know which drive success? I mean, you look at it, Lebron, you look at him and their

unicorns right there. There's just you know, Lebron's obviously a lot younger, and he hasn't had three giant careers. But but the fact is he's breaking barriers and what he does, whether it's business wise or whether it's on the court. I mean, it's thirty seven year old, you know. I think Arnold is a model or I mean he's been a model for me for my business, but I think he's a model for a lot of other people out there.

I think a lot of people look up to him and they understand that he he broke a lot of barriers and changed the game. Um. So you know, but even like, um, you know, at smaller levels, like I worked with Billie Eilish. You know she she for example, she gets authentic, right, she gets authentic. You know, we I helped her develop a fragrance. She has been obsessed with fragrance that she was ten years old. So she gets offers every day from every crypto company, every company

you can think of. Right, She's probably the biggest star in the world, star one of the biggest, and she does she did fragrance because she loves fragrance. Right. Um, so I think that that lesson of authenticity, which is lost on many people. I try and keep that with my clients, but for some like her, it's natural. So how can you You can't compare a twenty year old girl and says she's arnold, but there's certain things about her. She's real and authentic and true to herself. That's what

he is. Lebron is, That's what I see, that's what I look for. But honestly, he's the O G. He is And if you ask any of my clients who's the O G, they know that he's the O G. Because in many ways, you know, he broke a lot of molds and this whole idea of started talking about the business thing. You know, that's a big deal. That that's a big thing. That the idea of a celebrity influence or whatever you wanna call it owning their own business and building their business as opposed to just endorsing

that is a big deal. That has made a lot of money for a lot of people. You know, Jay Z sold Randy this year. And you know, there's all these businesses out there that are where there's real there's also a lot of ones that fail, and there's a lot of ones that let's say they succeed and they don't. But not everything succeeds. But the fact is that the fact that you can do it and that you should do it. But what he said before is really important. You need to start with an idea, not with I

want to do a bit. I see all the time. I want him I want to do a business, because I'm supposed to do a business, as opposed to I have an idea. How do I execute that idea? Who do I have around me to execute the idea? What? How authentic am I in that idea? So that's it. But I mean, I think you know I as you know, and you can tell you know I. I have a tremendous amount of respect. But I learned so much from

Arnold because this was when I first met him. He was really right at the end of his body built. Really wasn't any different. All these things he's talking about today he was talking about and I really learned a lot because I I didn't come from you know, marketing. I didn't come I didn't come from celebrity. I came from Wall Street. That's a very different thing. And law, so you know, you have to learn these things. So I had a great thing. Any final thoughts aren't all

that's a little commercially expectancy for fruit. And it just shows you the power that you just because if you're like me that if you feel comfortable, it's kind of like if it is not broken, don't fix it. So you know, if you works. I put it on, I couldn't even compared to anything else because I never used anything else. So I have now fifty two years lay I'm still doing. So this is the power of celebrity

if you connect with the product. All right, well, let me ask you one more question, because I very generous with both of you. All these things that you identified are very critical, almost like fight geist mom right that I think they're happening in the broader culture. What do you see now as you think about like the business lens of Arnold, Like, what are you seeing out there now that excites? I think the apportunit is there. I

think the opportunities are multiplying. I think that with the social media now it is opened up a whole new world. I think there's such wonderful kind of synergy that that can happen. I think we have to just be creative and creative. Remember that you can work. I've worked for many, many years from morning to night as a bricklayer working on construction when it first came to America and we made you know, let's say hundred dollars a day in

the seventies. But all of that work, one good idea is the equivalent of ten years working every day on construction, just one good idea. That this is why I always say, you cannot go and work enough to make up for what idea spring. And so if you get a good idea and how to start a business or what business it ought to be, what you deals should be an offense kind of things. Um, that is where the money is. And so that that's why I say, peopould say the music.

Do you think there's still all these opportunities out there that you once had? Would you still be a successful if you would come up with the data America? I say absolutely, this is still the land of opportunity, especially now that we have a choice. You can go and go all in and being just American products and just American company, or you want to go global, you can global. You have the choices today. That is the great thing. And it is unbelievable about the stuff that is out there.

Look at the amount of money that the people are making every day. You have to do the right move. So I have great hope. I think the key thing is that we get the group that the right help. And that's why I always say, and any of my kind of success speeches, I always say, remember I'm not a self made man. What you see in front of you is a creation by thousands of people, and it's still a work in progress. You know, because if I think about the teachers that helped me, My parents did

help me. The coaches that helped me, Joe we are bringing me to America, been Weeda, you know, exploring me and and kind of helping me with the FTB within in the National Federation of Bodybuilding, Franco Colombo that was training with me, Paul walked that it was helping me with my investments. I mean it goes the list goes on and on and on. President Bush that maybe the chairman of the President's Counsel and Fitness which made me

travel all over the United States. It was like the California people five point eight million people that voted for me to become governor. How can I ever say I'm a self made man I would have. I cannot make myself to be governor. So all of these millions and millions of people, and thousands of them they were closely working with me helped me. So get help. Don't be afraid of asking to get help. This is where the

action is to reach out and get helped. My thanks to Arnold Schwarzenegger and Paul Walkeder for their time and insights. You've been listening to a special edition of Masters in Business. I'm Jason Kelly. For more on Paul walker and his work advising Arnold, Lebron and Moore, check out our story about main Street advisors on the Bloomberg Terminal and at Bloomberg dot com. Thanks for listening.