Schwarzenegger is considered among the most important figures in the history of bodybuilding, and his legacy is commemorated in the Arnold Classic annual bodybuilding competition. He has remained a prominent face in bodybuilding long after his retirement, in part because of his ownership of gyms and fitness magazines. He has presided over numerous contests and awards shows. In 1967, Schwarzenegger won the Munich stone-lifting contest, in which a stone weighing 508 German pounds (254 kg / 560 lb) is lifted between the legs while standing on two footrests.