He's been a bodybuilding icon, a Hollywood action hero, and even the Governor of California. And now, according to Forbes, Arnold Schwarzenegger has become the second actor in history to join the exclusive billionaire club, following in the footsteps of Tyler Perry.

However, the movie icon hasn't relied solely on acting to amass his wealth. Over the years, Schwarzenegger has racked up the dollars in a number of surprising ways.

Read on to discover how Arnie built his staggering fortune, and find out how his five children are boosting their bank balances too.

All dollar amounts in US dollars, unless otherwise stated.

Arnold Schwarzenegger was born in 1947 in the small Austrian village of Thal. He began weightlifting as a teen and won the Junior Mr Europe contest in 1965, marking the start of his illustrious career in the bodybuilding world.

At the age of 20, Schwarzenegger became the youngest ever Mr Universe winner, a title he would go on to win three more times. By 23, he'd picked up the prestigious Mr Olympia title, an accolade he would earn a total of seven times throughout his career. This remained a record-breaking achievement until Lee Haney won an eighth title in 1991.

Schwarzenegger's bodybuilding career was the focus of the 1977 documentary Pumping Iron, which brought bodybuilding into the mainstream and helped cement Schwarzenegger's celebrity status.

In 1968, Schwarzenegger moved to Los Angeles, where he pursued acting. He made his feature film debut in 1970's Hercules in New York, but his big break came when he starred in the 1982 action-adventure saga Conan the Barbarian (pictured).

Schwarzenegger has since starred in around 50 films, collectively grossing $5.5 billion (£4.3bn). A certified action hero, his standout roles include the Terminator franchise, Predator, and Total Recall. However, he's also excelled in comedies like Kindergarten Cop and Jingle All the Way.

Forbes estimates Schwarzenegger has earned $500 million (£393m) from his movie roles, with his biggest paycheque coming from 1988's Twins. He banked a juicy $35 million – a staggering $95 million (£75m) in today's money – for the comedy flick by forgoing an upfront salary for a 20% cut of the box office gross.

Schwarzenegger made a surprising pivot to politics in 2003 when he was elected Governor of California as a Republican candidate.

His successful first term led to his reelection in 2006. However, his second term was plagued by the global financial crisis and relentless budget woes, and he left office in 2011.

Schwarzenegger's stint as Governor of California was evidently not financially motivated. He turned down his $187,000 (£147k) salary –  reportedly the highest among all governors – calling it "petty" cash and electing to donate the money to good causes instead.

He later claimed that his eight-year tenure cost him around $200 million (£157m) in potential movie wages.

You might be surprised to learn that Schwarzenegger is something of a property mogul. In fact, he claims he was a real estate millionaire by 25, long before he rose to movie stardom.

On moving to America, the shrewd Schwarzenegger used his earnings from bodybuilding competitions to build a lucrative real estate portfolio, buying up various commercial and residential properties in California.

Among his biggest real estate investments is 812 Main St., a 21,600 square foot (2,007m²) commercial building in prime Venice Beach, which he snapped up for around $12 million (£9m) in the 1980s. In 2013, he sold it for at least triple that sum. He also previously owned a significant stake in the Waldorf Astoria Hotel in Beverly Hills.

In addition to his real estate empire, Schwarzenegger has several other side hustles that have helped him reach billionaire status.

Schwarzenegger is a savvy investor who has stakes in some of America's biggest brands. He was a key investor in Starbucks in the 1990s and still owns shares in the coffee company today, and he also invested in Google's Series A round in 1999.

Additionally, he rakes in millions from his lucrative endorsement portfolio, having promoted everything from fitness magazines to insurance firms over the years. The multi-talented star is also a successful author and has written several fitness books and an autobiography.

As for how Schwarzenegger splashes his cash? He owns a lavish mansion in Los Angeles, located in the star-studded Brentwood region and close to the homes of his children Katherine, Patrick, and Joseph.

According to reports, Arnie's sprawling property sits on more than 2.5 acres of land and boasts seven bedrooms and bathrooms. Inside, it features various living spaces, a chef's kitchen, a gym, and a games room with a pool table, while the grounds include a swimming pool and tennis court.

The grounds also have ample space and a stable for Schwarzenegger's unique selection of pets. These include Lulu the donkey, Whiskey the miniature horse, Schnelly the pig, and dogs named Schnitzel, Cherry, and Dutch.

Like many of the super-rich, Schwarzenegger has a penchant for expensive cars, and his collection is seriously enviable.

In line with his action hero image, the movie star owns several military-style vehicles, including a Military-Spec Hummer H1, a Military-Spec Dodge M37, and perhaps most impressively, an M47 Patton Tank, decommissioned from the Cold War era.

Schwarzenegger also has a passion for vintage cars, with the likes of a 1982 Excalibur Phaeton Series IV and a 1957 Cadillac Eldorado Biarritz in his collection. His garage has also housed some of the world's most sought-after supercars, including a Bugatti Veyron and a Bentley Continental GTC.

Now, let's delve into how Schwarzenegger's five children are boosting their bank balances...

Schwarzenegger's eldest child, Katherine, was born in 1989. Arnold welcomed Katherine with his ex-wife, Maria Shriver, a journalist and member of the prominent Kennedy dynasty; Shriver's mother, Eunice Kennedy Shriver, was the sister of President John F. Kennedy.

While Katherine has an estimated personal fortune of $10 million (£7.9m), her overall wealth is significantly higher thanks to her husband, actor Chris Pratt. The couple tied the knot in 2019 and have two children together. Chris, famed for his leading roles in the blockbuster film franchises Guardians of the Galaxy and Jurassic World, boasts an estimated fortune of $100 million (£79m). 

Katherine has made a name for herself as a successful author and lifestyle influencer. Her debut book, Rock What You've Got: Secrets to Loving Your Inner and Outer Beauty from Someone Who's Been There and Back (2010), was inspired by her personal struggles with body image.

I Just Graduated... Now What? (2014) compiles career advice from various professionals, while The Gift of Forgiveness (2020) features inspiring true stories of overcoming adversity, including insights from Nicole Brown Simpson's sister, Tanya Brown.

Katherine has also written two children's books: Maverick and Me (2017) and Good Night, Sister (2023).

When it comes to spending their fortune, Katherine Schwarzenegger and Chris Pratt have made some notable real estate purchases.

In 2018, the couple snapped up a mansion in the upmarket Pacific Palisades neighbourhood of Los Angeles for $15.6 million (£12m). They renovated it extensively before listing the property for sale for $32 million (£25m) in 2023. 

That same year, they bought a property in the Brentwood area of California for $12.5 million (£10m). This wasn't any ordinary home; it was the renowned Zimmerman House, a mid-century architectural gem designed by celebrated architect Craig Ellwood back in the 1950s. 

Katherine and Chris demolished the property to make way for a farmhouse-style mansion, a controversial decision that drew much criticism.

Arnold Schwarzenegger and Maria Shriver's second child, Christina, was born in 1991.

Unlike some of her famous family members, such as her actor father and influencer sister, Christina keeps a relatively low profile and stays out of the spotlight. Her net worth is unclear, but some estimates have suggested a $1.5 million (£1.2m) figure.

However, we do have some insights into her career...

Christina graduated from Georgetown University, her mother Maria Shriver's alma mater, in 2013 with a bachelor's degree in English. She then worked as an editor at Gwyneth Paltrow's lifestyle brand, Goop, covering health and wellness topics.

She's also collaborated with her mother to produce two documentaries: Take Your Pills (2018) and Take Your Pills: Xanax (2022). The first documentary delves into Christina's personal experiences with Adderall addiction. 

Christina is a founding member of the Special Olympics Founder's Council; her grandmother, Eunice Kennedy Shriver, founded the Special Olympics in 1968. Reflecting on her involvement with the organisation, Christina once stated: "I love shining a light on those who feel outside the margins and bringing their experiences to light. The result is that we all feel validated and, ultimately, see that our differences are in fact our superpowers." 

While Christina's exact net worth is unknown, we do know that she snapped up a Mediterranean-style townhouse in the upscale Brentwood area of California for a cool $2.8 million (£2m) in 2019.

The plush pad (pictured) features four en-suite bedrooms, including a lavish master suite, while the grounds boast an al fresco dining area and a two-car garage. 

Schwarzenegger added numerous upgrades, including a state-of-the-art security system, tankless water heaters, and a high-tech home automation system. Earlier this year, she listed the property for sale with a $3.2 million (£2.5m) asking price.

Arnold Schwarzenegger and Maria Shriver welcomed their first son, Patrick, in 1993.

According to Celebrity Net Worth, Patrick is worth a sizable $8 million (£6.3m). So how has he made his millions?

Following in his father's footsteps, Patrick is making a name for himself as an actor. The rising star has appeared in a diverse range of movies, including the comedy flick Grown Ups 2 (2013) and the romantic drama Midnight Sun (2018).

In recent times, Patrick has made a splash on the small screen, most recently appearing in the Amazon Prime Video series Gen V in 2023. He's set to star in the third season of the critically acclaimed drama series The White Lotus, tipped for release in 2025. 

Alongside his acting career, Patrick has bolstered his fortune with modelling gigs, having worked with high-profile brands such as Tom Ford.

Patrick also follows in his dad's footsteps when it comes to savvy real estate purchases, having made several lucrative investments in recent years. 

In 2018, he splurged $3.1 million (£2.4m) on a tear-down home in Santa Monica, California, and began building a sprawling mansion on the site. That same year, he also dropped $2.9 million (£2.3m) to buy a farmhouse in West Hollywood, which he flipped for just shy of $3.2 million (£2.5m) in 2021. 

Continuing his streak of smart investments, Patrick paid just under $4.4 million (£3.5m) for a modern farmhouse in LA in December 2020. He later sold the home for an impressive $5.1 million (£4m). 

Schwarzenegger and Shriver welcomed their fourth child, Christopher, in 1997.

Christopher is super private, preferring to stay out of the spotlight. He even has a locked-down Instagram account with a bio that reads: "If I don't know you, don't try to follow me."

His net worth today is unclear, although past estimates have put it in the region of a modest $1.5 million (£1.2m).

Christopher (pictured with his mother) is the only Schwarzenegger heir who hasn't pursued some form of career in Hollywood.

He graduated from the University of Michigan in 2020, where he reportedly studied psychology. It's unknown what career path he has pursued, but brother Patrick recently revealed that Christopher has a "new job".

Like the rest of his family, Christopher is thought to reside in sunny Los Angeles.

Christopher (pictured here in 2017) embarked on an inspirational weight-loss journey ahead of his 2020 graduation. Now a fitness enthusiast, he's occasionally spotted working out at gyms in California.

Finally, we have Joseph Baena, who is Arnold's son from an extramarital affair with Mildred Baena, a former household employee of the Schwarzenegger family.

Joseph was born in 1997, although his paternity remained a private matter until 2011 when the story became public. 

Estimates place his net worth at around $1.5 million (£1.2m), but there's every chance that bank balance may soon swell...

Following in his father's footsteps, Joseph has made a name for himself in the world of bodybuilding.

As well as participating in competitions, he frequently shares his fitness journey on social media, garnering much attention for his striking resemblance to his father during his own bodybuilding days.

In addition to his fitness pursuits, Joseph is also venturing into acting, having made his debut in the 2022 sci-fi flick Chariot. He most recently appeared in two episodes of the TV series Beyond Belief: Fact or Fiction in 2023 and has six upcoming acting projects in the pipeline, according to his IMDb profile.

Following in the footsteps of his father and half-brother Patrick, Joseph has a keen interest in real estate, having earned his State of California Realtor's License in 2022.

That same year, he sold his first home – a Santa Monica property – and posted a picture on Instagram to celebrate the career milestone. 

"SOLD!!!" Baena wrote, alongside an image of himself standing beside a real estate sign. Watch this space to see what's next for him...

Now discover how Sylvester Stallone and his family make and spend their millions