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2.
A ruler or governor. From the Latin gubernatus.
Also, the helmsman or pilot of a boat.

This is a word from Roman times and was NOT coined for Schwarzenegger.
An example appears in a 19th century poem by Oliver Wendell Holmes, "Contentment" -

I'm very sure I should not care
To fill our Gubernator's chair.
by Baron Van Valin December 01, 2012
 
1.
The term that was actually coined *FIRST* to describe Arnold Schwarzenegger, more etymologically accurate than the bastardized "governator"..."gubernator" can be faux-extrapolated as a root of "gubernatorial." Arianna Huffington uses it, and I'm with her.
The Gubernator moved into his new Sacramento mansion today with five alsatians, his wife and a cubic ton of chicken feathers. He told the state legislature to "check back in a week."
by Anonymous October 17, 2003
 
3.
pilot, leader, captain, etc. (latin root)
"i drive a boat and im a gubernator."
by Scott V April 08, 2006
 
4.
better than governator, I reckon
as for governator
by Lotus November 09, 2003
 
5.
'Gubernator' - in polish means 'joint', 'blunt'
(other name: 'gibon')

It's a new word - invention by me and my homie Radi during smokin 'sticky icky icky' :)

- Yo Bro! smoke that joint
in polish:
- Yo Bro! zaciagnij Gubernatora
by St.Koma October 28, 2006