Arnold Schwarzenegger, the "Celebrity Apprentice" replacement for Donald Trump, says their bigger-than-life stories were only possible in America.

In an exclusive interview with "Entertainment Tonight," the former body builder turned actor and then politician talked about his journey and hosting the show, which will appear Jan. 2.

"I've been governor twice in California, and now to go and go to this is terrific for me," said Schwarzenegger. "And for (Trump), it's great to go from this to politics. The bottom line is, the country, America, where do you have the possibilities to do that many things? Only in America."

Schwarzenegger has seen plenty of drama besides as an action hero, including splitting with wife Maria Shriver in July 2011 (though TMZ reported they have yet to finalize the divorce).

Schwarzenegger promised there will be plenty of twists on the "Celebrity Apprentice."

"I'm 68 years old and this is a whole new challenge – something that I've never done before, so this is really wonderful," Schwarzenegger told ET. "And I think with the characters that they've picked there will be major drama."

Earlier this year, E! News revealed the contestants on the first season of "Celebrity Apprentice" without Trump. They included: Laila Ali, retired boxing champion and daughter of the late Muhammad Ali; Brooke Burke-Charvet, television host and actress; NFL Hall of Fame running back Eric Dickerson; former Culture Club lead singer Boy George and "America Ninja Warrior" host Matt Iseman.

Also, actress and VH1 host Carrie Keagan; Carson Kressley, a celebrity stylist; former WNBA star Lisa Leslie; Jon Lovitz, comedian and former Saturday Night Live star; Vince Neil, lead vocalist for Mötley Crüe; reality show star Nicole "Snooki" Polizzi; and Kyle Richards, actress and star of Bravo's "The Real Housewives of Beverly Hills."

Also, former UFC fighter Chael Sonnen; Porsha Williams, "The Real Housewives of Atlanta" star; former NFL running back Ricky Williams, and Wilson Phillips singer Carnie Wilson.

Tyra Banks, former host of "America's Next Top Model," will help advise the celebrities along with Warren Buffet, former Microsoft chief executive Steve Ballmer, actress Jessica Alba, and Schwarzenegger's nephew, entertainment attorney Patrick Knapp Schwarzenegger, noted E! News.