Reuters reports that Royal Caribbean's CEO Richard Fain recently sold 94,850 shares at average price of $62.38 for a total value of $5,916,743.00; and exercised options for 51,143 shares at $7.27 per share for a total value of $3,190,300.00.
CEO Fain holds over a million shares of his cruise line's stock. Reuters says he holds 1,380,000 (million) shares for a value of over $86,000,000. Tech Insider says that Mr. Fain owns 1,153,689 company shares for a total value of around $72,000,000. This excludes the shares owned by various trusts for the benefit of of the Fain family.
Earlier this week, we reported that Royal Caribbean Chief Operating Officer (COO) Adam Goldstein unloaded sold 42,152 shares of RCL stock at an average price of $61.68 for $2,599,935.36. COO Goldstein still owns 370,724 shares valued at $22,866,256.
Notwithstanding the vast wealth of these cruise CEO's, Royal Caribbean has made substantial cut-backs in the salaries of its staff and crew members, increased work, and reduced benefits.
Photo Credits: Royal Caribbean Press Center