Micky Arison Net Worth & Biography

Micky Arison Net Worth & Biography

American billionaire businessman and entrepreneur Micky Arison is well-known for his role as chairman and former chief executive officer of Carnival Corp (CCL), one of the largest cruise operators in the world. The Israeli-born magnate is also the owner and president of the Miami Heat franchise of the NBA.

Mr. Arison dropped out of the University to start working in the sales unit at Carnival, a company that his own father, Ted Arison, established in 1972. He worked his way up through the ranks to become the company’s president in 1979 and succeeded in helping the company go public in 1987. Despite the circumstance that he was an inheritor to his father’s empire, Micky worked like a stranger would and never took the family’s business for granted. In 1990, he became the chief executive officer of the company and also started serving as chairman until June 2013 when Arnold Donald, who had been a member of the company’s board for many years, took over from him as the chief executive officer. Throughout his time at Carnival Corp, Micky has led the business to immensely remarkable levels. He has led the company to seal many deals including acquisitions of numerous cruise lines, including Cunard, Princess, Holland America, Costa Cruises, and Seabourn, which grew the cruise operating company into the luxury cruise market and placed it in a position to have an estimated 50 percent market share. In addition to his outstanding performances so far, Micky has also helped the company’s cruises to persistently operate at full occupancy, enhancing the company’s profitability and growth to transform into the world’s number one cruise operator.

Discover more details about Micky as you go on with reading the rest of this article.

Early Life: Childhood, Education

Micky Arison was born on June 29, 1949, in Tel Aviv, Israel. He is one of the children of Ted Arison. His siblings include one brother, kames Arison, and a sister, Shari Arison.

As a young boy, Micky moved with his father who had fought in the Israeli armed forces to the US. After arriving in the new country, Micky’s father spent the first decade working in the air cargo business while a young Micky continued with his education, making it up to college level by registering at the University of Miami, however, he later dropped out before obtaining his degree. Around this period, the senior Arison became acquainted with Norwegian cruise ship executive Knut Kloster, and they connected as business partners to start up a company, Norwegian Caribbean Lines which they launched with just one ship. Knut and Ted changed the cruise industry completely, focusing their gaze on Middle America with brief, inexpensive Caribbean cruises and accentuating on the ships themselves rather than the destinations. In 1971, Ted Arison became involved in a court case with his business partner Knut Kloster, and later moved to establish a separate cruise company called Carnival with a reasonable amount of money he made away with from the former company he owned with Knut. At this point, Micky Arison quit his education at the University of Miami and joined his father in the new business venture.

Professional Life: Business career, Investments

Micky Arison started working at Carnival Corp in 1971 when his father launched the new business. He first started working in the sales department as a sales rep before gaining more knowledge that would help him take up other roles. His father, Ted Arison, who owned the Heat basketball team of the NBA brought the franchise to Miami in 1988.

When his father died, Micky Arison took over the businesses that were meant for him. But before then, there was a lot for Micky to handle, as he lacked experience in the business. However, he never gave up for any reason no matter the pressure he faced at work. At Carnival, he gave his best efforts to help the company grow in various ways and this helped him quickly rise through many roles, going from a salesman to reservations manager and eventually the company’s vice president.

In 1979, Ted appointed his son Micky as the new chief executive officer of Carnival Corp. Micky was 30 years old at that time. By 1985, Carnival Corp started to take shape and become stable and was able to record proceeds exceeding $1 billion in 1989. During his reign in positions of power, Micky has led the acquisition of a number of other cruise lines – a business strategy his father tactically employed. Carnival acquired Seabourn, Costa Crociere, Cunard Line, Airtours, and others.

Achievements: Awards & Honors

It is clear for all to see that Micky Arison has accomplished so much with his father’s cruise company since taking over the helm of leadership. Arison has revolutionized the entire cruise industry and currently leads the biggest cruise operator in the world as its chair. This is indeed an extraordinary feat considering that he has no educational qualifications as he had to quit his studies at the University of Miami to contribute to building the business his father started in 1971.

Micky Arison became the owner of the NBA team in 1995 and has controlled the franchise effortlessly. As the team’s chief administrator, he has led the team to NBA final victories in 2006, 2012, and 2013.

Personal Life: Marriage, Children, Personal Interests

The business tycoon is married to Madeleine Arison. They are the parents of two grown-up children, including a son Nick Arison, who currently serves as the chief executive officer of Miami Heat.

Micky and his family live in Bal Harbour, Florida.

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

In 2011, it was estimated by Forbes magazine the business tycoon’s fortune was $7 billion. This estimate made him the 169th richest person alive in the world. His salary is also known, as he takes home a huge amount for his work at Carnival Corp. Mr. Arison earned $7,201,110 in 2009, and this included a salary of $880,000, stocks granted of $3,618,481, a bonus of $2,206,116, and other miscellaneous compensation amounting to $496,513.

Micky Arison’s net worth is around the $5.5 billion mark as we write this. His wealth makes him the richest person residing in Florida, and he has made it all from his time working at Carnival Corporation as the company’s chief executive and chairman. He also earns from the basketball team Miami Heat, which is an income booster to his fortune.