Bloomberg Billionaires Index

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#116 Micky Arison $11.7B

Random fact: Dropped out of the University of Miami to work in sales at Carnival.

Overview

Arison is chairman of Carnival, the world's largest cruise operator. The Miami-based company has more than 100 ships sailing under brands including Cunard and Princess. The fleet serves more than 11.5 million passengers every year and had revenue of $16.4 billion in 2016. He also controls the NBA's Miami Heat basketball team.

As of July 22, 2017:
Last change -$52.6M (-0.5%)
YTD change +$2.64B (+29.0%)
Industry Entertainment
Biggest asset CCL US Equity
Citizenship United States
Age 68
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Micky Arison's net worth of $11.7B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Arison's fortune is derived from his 12 percent stake in Carnival Corp, the world's largest leisure travel company, according to the company website in April 2017. He holds about 90 million shares through a Wilmington, Delaware-based holding company and six trusts, according to the company's 2016 proxy statement. Of these, 20 million were pledged and removed from the analysis until April 18, 2017, when the calculation was updated to reflect the removal of the pledge as confirmed in the 2016 proxy.

He isn't credited with about 35 million shares in Carnival held by the Artsfare 2005 Trust because Arison doesn't have an economic interest in its holdings, according to the 2016 proxy. The billionaire inherited the majority of his stock from his father, Ted, who died in 1999. He's collected more than $4 billion from stock sales and dividends since then.

His father co-founded the Miami Heat basketball team in 1988 and the billionaire took over seven years later. The franchise is valued based on a valuation assessment from Peter J. Schwartz, a consultant with New York-based Anderson Economic Group.

The value of his cash investments is based on an analysis of dividends, taxes and market performance.

Vance Gulliksen, a spokesman for Arison, declined to comment on his net worth.

Biography

Birthdate: 6/29/1949
Family: Married, 2 children

Micky Arison's father, Ted, founded Carnival Cruise Lines in 1972. The elder Arison, who was born in Tel Aviv, immigrated with his family to the United States in the 1950s. Micky Arison still has close ties to Israel, where his sister, Shari, lives and is one of its richest citizens.

After dropping out of the University of Miami, Arison began his career working at Carnival in the sales department, becoming reservations manager in 1974. Five years later he was made president of the company that operated three ships. Today the fleet numbers 100 vessels. Carnival sold shares in an initial public offering in 1987, raising $400 million. It acquired the Holland America Line two years later.

Arison is the managing general partner of the Miami Heat basketball team. The team has won three NBA championships under Arison. The second one, in 2012, came two years after the acquisition of league's most valuable player, Lebron James.

Milestones
  • 1949 Micky Meir Arison is born in Tel Aviv.
  • 1972 Father founds Carnival Cruise Lines.
  • 1974 Starts work at Carnival as a reservations manager.
  • 1987 Company sells shares in public offering, raising $400 million.
  • 1988 Father becomes first owner of the Miami Heat basketball team.
  • 1995 Receives ownership of the Miami Heat from father.
  • 2012 Costa Concordia, a Carnival-owned cruise ship, sinks off of Italy.
  • 2012 The Miami Heat win their second NBA championship.