| Net worth | $10M |
|---|---|
| Date of Birth | August 7, 1941 |
| Place of Birth | Ollolai, Sardinia, Italy |
| Death | August 30, 2019 |
| Age | 78 |
| Height | 5ft and 5inches |
| Weight | 84kg |
| Residence | Los Angeles, California |
| Nationality | Italian |
| Occupation | Professional bodybuilder, actor |
| Famous for | Pumping Iron, The Terminator, IFBB Inductee, Rambo, Conan the Barbarian, Mr. Universe, Mr. Olympia, the Sardinian Strongman |
| Spouse(s) | Anita Sanangelo (1986-1990) Deborah Columbu (1990-2019) |
| Relatives | Maria Columbu (daughter); Anna, Gonaria and Celestina Columbu (sisters) |
| Updated on | Sep 2019 |
Franco Columbu’s Net Worth: $10 million
Life, Family, Work
Franco is not only known for being Arnold Schwarzenegger’s best friend and confidante but has also built a name for his own in the bodybuilding world and in chiropractic care.
He was first a professional boxer before he was a professional weightlifter and then later on embarked in professional bodybuilding.
He met Arnold in 1965 and together, they pushed to make weightlifting a mainstream sport. He won the Mr. Olympia twice, in 1976 and 1981.
From 1969 to the early 80s, he was consistently ranked by the IBFF as one of the world’s strongest men. In 1977, he ended up in fifth place in the very first World Strongest Man competition.
He came to America with Arnold in 1969 to pursue bodybuilding. When Arnold became a famous action star in the early 80s, Franco was also a part of his films.
He starred in Pumping Iron in 1977 along with Arnold and appeared as the future terminator in the Terminator series where Arnold was the lead star. He also appeared in other action films such as Rambo, Conan the Barbarian, The Running Man, The Last Action Hero and Constantine the Great.
He also directed a series called Jack Slater which was produced by Arnold in 1996 and a documentary titled Sardinia: Greatest Isle of the Sea in 1999. He has his own production company called Franco Columbu Productions. He was an inductee in the IFBB, World’s Gym Hall of Fame, and International Sports Hall of Fame and the Arnold’s Classic Lifetime Award.
He later engaged in chiropractic care specifically for weightlifters and bodybuilders. He had a Ph.D. for it and he was able to write two bodybuilding and fitness books. One of these was titled Coming On Strong. He also designed fitness and comprehensive workouts for athletes and non-athletes and published them through his website Francesco Columbu.
Wife and Death
He died in August 30, 2019 of cardiac arrest after he was seen unconscious in a San Teodoro shoreline in his hometown Sardinia.
He was married twice; to Anita Sanangelo (1986-1990) and to Deborah Columbu (1990-2019).
Money Sources
- Film Appearances (Pumping Iron, The Terminator, Rambo, Conan the Barbarian, The Running Man, The Last Action Hero and Constantine the Great, etc.)
- Documentary and series production (Jack Slater and Sardinia: Greatest Isle of the Sea)
- Production Company (Franco Columbu Productions)
- Chiropractic care practitioner
- Published author (Coming on Strong)
Net worth from 2010-2019
Information about his net worth is private from 2010 to 2016. His earnings from 2017-2019 are attributed mainly from being a licensed chiropractic care therapist and a published author.
- 2017:$6M
- 2018:$8.5M
- 2019:$10M
What does Net Worth Mean?
What is a Net Worth?
It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.
Formula:
Net Worth = Assets – Liabilities
A little more into Net Worth Concept:
Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)
Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.
It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.
What does a Net Worth Mean to a person?
In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.
In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.
For example:
Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.
Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
= $370000
Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).
The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
= $475000
Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.
Note that, an individual’s net worth can be negative if his asset base is less than liabilities.
What does net worth mean for celebrities?
Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?
People with considerable net worth as called as HNWI.
Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.
As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.
Is 401k part of net worth?
As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.
What is the average American net worth?
Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.
As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.
What is a good net worth by age?
| Age of Household | Median Net Worth |
|---|---|
| Under 35 years | $6,900 |
| 35 to 44 years | $45,740 |
| 45 to 54 years | $100,404 |
| 55 – 64 years | $164,498 |
| 65 – 69 years | $193,833 |
| 70 – 74 years | $225,390 |
| 65 – 75 Years | $202,950 |
| 75 + Years | $197,758 |
What is the net worth of the top 1%, 5%, 10%?
As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth
Success lessons from Franco Columbu
Unexpected roads lead to beautiful places.
After his dwindling career in professional boxing, Columbu shifted to weightlifting and bodybuilding. Both proved to be good decisions as he established his name in both fields and ended up as a respectable icon in the sport and an inductee in multiple Hall of Fame awards.
Love your craft.
He loved weightlifting and bodybuilding so much that he jumped on a one-way ticket to California and practice what he loves even though at that time was not high-paying. He pushed it to be a mainstream sport and after retirement, engaged himself in chiropractic care to support younger weightlifters and bodybuilders in the health and fitness needs.
