Micky Arison Net Worth & Biography

Popular Name:	Micky Arison
Real Name:	Micky Arison
Birth Date:	June 29, 1949
Birth Place:	Tel Aviv, Israel
Age:	72
Gender:	Male
Nationality/Citizenship:	Israeli, American
Height:	N/A
Weight:	N/A
Sexuality:	Straight
Marital Status:	Married
Spouse(s):	Madeleine Arison
Children:	2
Profession:	Businessman, Investor, Entrepreneur
Years active:	N/A
Net Worth:	$5.5 Billion
Last Updated:	2021

American billionaire businessman Micky Arison is the current chairman and former chief executive officer of Carnival Corp (CCL) the largest cruise operator in the world. The Israeli-born magnate is also the owner of the Miami Heat franchise of the NBA.

Arison dropped out of college to start working in the sales division at Carnival, a company that his own father, Ted Arison, founded in 1972. He worked his way up the ranks to become president in 1979 and managed to help the company go public in 1987. Despite the fact that he was an heir to his father’s empire, Arison worked like his life depended on it and never took his job for granted. In 1990, he became the company’s chief executive officer and chairman until June 2013 when Arnold W. Donald, who had been on the company’s board for over a decade, took over from him as chief executive. Throughout his time at Carnival Corp, Arison has led the business to tremendously remarkable levels. He has led the company to complete acquisitions of numerous cruise lines, including Princess, Costa Cruises, Seabourn, Holland America, and Cunard, which grew the cruise operator into the luxury cruise market and gave it an estimated 50 percent market share. In addition to his outstanding performances so far, he has also helped the company’s cruises to recurrently operate at full occupancy, boosting the company’s profitability and growth to turn into the world’s leading cruise operator. Find more details as you go on with reading the rest of this report.

Early Life: Childhood, Education

Micky Arison was born in Tel Aviv, Israel on June 29, 1949. He is the son of Ted Arison, and he has one brother, kames Arison, and a sister, Shari Arison.

As a young boy, Micky emigrated with his father who had previously fought in the Israeli armed forces to the United States. After arriving in the new country, his father spent the first ten years working in the air cargo business while Micky himself continued with his education, making it up to college level by enrolling at the University of Miami, though he later dropped out for various reasons.

Around this period, Ted connected with Norwegian cruise ship executive Knut Kloster, and they combined as business partners to form Norwegian Caribbean Lines which they started with just one ship. Knut and Ted transformed the cruise industry, focusing their attention on Middle America with short, reasonably priced Caribbean cruises and emphasizing on the ships themselves instead of the destinations.

Ted Arison became involved in a lawsuit with his business partner Knut Kloster in 1971, and subsequently started a separate cruise line called Carnival a decent amount of money he seized from their company. At this point, Micky Arison quit his studies at the University of Miami in order to lend a hand to his father’s new business venture.

Professional Life: Business career, Investments

Micky Arison started working at Carnival Corp as a sales rep immediately after his father started the cruise operator in 1971.

His father, Ted Arison, would later bring the Heat basketball team of the NBA to Miami in 1988, and also renounced his United States citizenship to avoid estate taxes. Ted also returned to Israel in 1990 to live for the rest of his life. Unfortunately, his death came nine months short of a required decade-long absence from the United States, and he was unable to claim the financial benefit from this tax loophole.

Micky Arison witnessed a series of ups and downs during his time working at Carnival Corp. While working under his father, he struggled to overcome a range of obstacles as the company dealt with multiple financial difficulties. The decision to attach a fun atmosphere on Carnival boats was considered innovative at the time, but it was later shown to be a purely financial decision. Installing casinos on the boats allowed the company to actually maximize profits through increased patronage. By this point, Micky had risen through the ranks from a sales representative to reservations manager and ultimately vice president.

Micky Arison Net Worth — Carnival Corporation Chairman, Micky Arison

In 1979, Ted appointed Micky the new chief executive officer of Carnival Corp. at 30 years of age. Ted then resigned to serve as chairman of the board and allow his son to take over.

By 1985, Carnival Corp was starting to become stable, and was able to record revenues exceeding $1 billion in 1989. These profits were recorded due to desperate measures employed by the company, such as forcing staff to work 70 hours every week for less than the minimum wage. In 1990, the company’s stocks plunged to $13 a share from a previous price of $25. By 1992, profits had increased once again.

During his reign, Micky has led the acquisition of several other cruise lines – a business strategy employed by his father before him. Carnival acquired Seabourn, Cunard Line, Airtours, Costa Crociere, and others.

The Covid-19 pandemic dealt a big blow to the company as the management announced that it had lost $4.4 billion due to the 2020 pandemic. The coronavirus impacted the cruise industry heavily, and we have to assume that Micky Arison’s net worth suffered this impact as well. Carnival Corp’s financial woes included a loss of $2 billion after selling off some of its cruise ships for a cut-rate price. In addition, the company posted revenue that was down 85 percent from the same period in 2019.

Achievements: Awards & Honors

One can clearly see what this man has accomplished with his father’s cruise company since stepping onboard. He has revolutionized the entire industry and currently leads the world’s largest cruise operator as its chair. This is indeed a remarkable feat bearing in mind that he has no educational qualifications whatsoever as he had to drop out of school earlier on to contribute to building the business.

As the owner of an NBA team known as Miami Heat, which he has controlled since 1995, Micky Arison and the Heat won the 2006, 2012, and 2013 NBA Finals.

Personal Life: Marriage, Children, Personal Interests

The businessman is married to Madeleine Arison. They are the parents of two children, including their son Nick Arison, who serves as the current chief executive officer of the Miami Heat.

Micky resides in Bal Harbour, Florida with his family.

Micky Arison Net Worth: Salary, Income Sources, Assets, Real Estate

In 2011, Forbes magazine estimated the business tycoon’s fortune at $7 billion, making him the 169th richest person on the planet. He takes home a chunky bulk for his work at Carnival Corp as chair and formerly as chief executive officer. Micky earned a total of $7,201,110 in 2009, and this included a base salary of $880,000, stocks granted of $3,618,481, a cash bonus of $2,206,116, and other miscellaneous compensation amounting to $496,513.

Micky Arison’s net worth is approximately $5.5 billion as we write this. His wealth makes him the wealthiest person in Florida, and he has earned it all from his time working at Carnival Corporation as the company’s chairman and chief executive. In addition, the Israeli-American businessman is known by many sports fans in the US and beyond as the owner of the basketball team Miami Heat, which plays in the National Basketball Association.

Mr. Arison likes to enjoy the surplus of his wealth as he pleases. He owns two luxurious 200-foot yachts which he likes to use as homes. His Miami apartment tower which contained 275 units was sold off for $81 million in 2020 when the family was accruing financial losses due to Carnival’s problems at the height of the covid pandemic, and were presumably selling off all they could to cover their losses.