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A semi-relaxed pose of Arnold Schwarzenegger at the 1974 Mr. Olympia in New York City. The contest prize money was $1000 which it had been since 1967. For some reason the 1966 prize money was $5000 and apparently in 1965, the first year of the contest, there was no prize money. In 1974 the lightweight and heavyweight division debuted at the Mr.Olympia contest and lasted until 1979. Generally, no one today considers the divisions relevant. Franco won the lightweight class that year making him the Lightweight winner of the Mr.Olympia but very few care as the overall winner is what counts. For example, how often have you heard Mike Mentzer referred to as the 1979 Heavyweight Mr. Olympia or Ken Waller as the 1976 Heavyweight Mr. Olympia?