Action movie star Arnold Schwarzenegger is a significant investor in Israeli start-up CellGuide, the Los Angeles Times reported on Monday.
Schwarzenegger, who is running for governor of California, gave reporters access to his tax returns on Sunday as aides sought to present him as an astute businessman and honest taxpayer, the report said.
A report in The Mercury News said the tax returns show Schwarzenegger earned $26.1 million in 2001 and paid $7.4 million in state and federal taxes, and, the year before, he made $31.1 million and paid $10.8 million in taxes.
Schwarzenegger was not immune to the market downturn in 2000, said the Mercury News report. On a single day in December 2000, he lost $443,000, including $36,270 on Yahoo stock and $14,512 on Cisco Systems stock.
The man who headed President Bush's physical fitness council in the early 1990s once owned shares of cigarette-maker Philip Morris. The tax return shows he lost $23,000 when he sold the stock in 2000.
He was also an investor in Redpoint Ventures, the Menlo Park venture capital firm co-founded by Geoff Yang.
CellGuide was founded in November 2000 by Israel Military Industries graduates CEO Joseph Nir, CTO Baruch Shayevits and R&D director Hanoch Cohen. The company has patented technology through which cell phones can be located for emergency and commercial purposes.
Published by Globes [online] - www.globes.co.il - on 13 August, 2003