Arnold Schwarzenegger reportedly pays Warner Bros. $1 annually for an interesting reason.
If you watched the Oscars earlier this year, you might recall Schwarzenegger taking the stage with Danny DeVito. The duo, both former Batman villains, joked about Michael Keaton, who was in the audience.
Schwarzenegger’s role as Mr. Freeze in 1997’s Batman & Robin is linked to this $1 payment. Like many actors who keep memorabilia from their films, Schwarzenegger wanted to keep his Mr. Freeze costume.
This nominal $1 payment is a “peppercorn” payment, a symbolic fee used to confirm a legal contract. In this case, it allows Schwarzenegger to keep the costume on a long-term lease while acknowledging Warner Bros.’ ownership. When Schwarzenegger eventually passes, the costume will return to the studio, not become part of his estate.
Peter Macgregor-Scott, a film producer, explained that granting Schwarzenegger the costume lease was a significant decision. He shared that the actor had to sign a contract agreeing to the $1 annual fee, and while the costume’s lights have a lifespan of 9,000 hours, Schwarzenegger reportedly turns them on frequently.
It’s a fun arrangement, and for Schwarzenegger, it’s not about the money—just the memories.