In the early 2000s,s mega-star status might have been waning, and he contemplated a shift from Hollywood to politics. However, the excitement for Schwarzenegger‘s return as the iconic T-800 in “Terminator 3: Rise of the Machines” remained high. What fueled this comeback wasn’t just fan anticipation but a jaw-dropping contract that showcased the lengths producers were willing to go to secure Schwarzenegger for the project.
The Contract Saga: Spanning 33 pages and undergoing 21 drafts between the summer of 2000 and December 2001, Schwarzenegger’s contract for “Terminator 3” was nothing short of outrageous. The film’s producers, Mario Kassar and Andrew Vajna, had invested heavily in the “Terminator” franchise, making Schwarzenegger’s involvement crucial. This necessity led to a deal where the actor’s demands were not just met but exceeded.
Mega Salary and Perks: Schwarzenegger‘s base salary for the film was an eye-watering $29.25 million on a “pay or play” basis, ensuring he’d receive the fee even if the movie faced setbacks. Beyond the salary, he secured a $1.6 million-per-day overage fee for any delays in the film schedule. Additionally, a $1.5 million “perk package” covered private jet transportation, luxury accommodations, limo service, personal security, and even a traveling gym trailer for the fitness enthusiast.
Lucrative Backend Points: Not stopping there, Schwarzenegger negotiated a remarkable 20 percent cut of the film’s total revenue, extending beyond theaters to include TV, video game licenses, and in-flight movie arrangements. This backend deal, unlike typical Hollywood contracts, considered all revenue minus costs, ensuring Schwarzenegger’s substantial share.
Creative Clout: Flexing his creative muscle, Schwarzenegger had a say in selecting the director, supporting actors, and even brought in his own crew. This level of creative control highlighted the extent to which the producers were willing to meet his demands.
The Gamble that Paid Off: Surprisingly, “Terminator 3” isn’t the most lucrative project of Schwarzenegger’s career. The actor revealed that the biggest payday came from the unexpected source of 1988’s “Twins,” where he, co-star Danny DeVito, and director Ivan Reitman had a 45 percent stake in the movie itself. Forgoing upfront payments, they owned a share in everything, including TV rights, cable rights, and merchandising, resulting in a massive payday.
Legacy of “Terminator 3”: “Terminator 3” injected new life into the almost dormant franchise, becoming one of the top-grossing films of 2003. Remarkably, more than two decades later, the contract Schwarzenegger crafted with his legal team remains a testament to his influence in show business.
