The Rich Get Richer: Royal Caribbean's Fain Cashes In

Richard Fain Adam GoldsteonReuters 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 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

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Comments (5) Read through and enter the discussion with the form at the end
Jyoti Thakuri - August 1, 2014 3:33 AM

This is very true. Why doesn't the world change for the crews? Why are their salaries getting bad to worse? This is 21st century. All the professions are starting to get better except the crew.

Valente,jose - August 1, 2014 4:07 PM

I enjoy r.c.i in september 1981 til 1999 december i left the company in medical i was. No able to returne because the problem i have in my légs. I never get no reteirment .wen i enjoy the company the have only three small ship i have working very hard i never get nothing i hope the ceo loock to my problem.

Stephanie Parkes - August 3, 2014 8:44 AM

I think maybe it is time the the crew members started a Union. Time to strike!!! you guys need to take some lessons from South Africa when the majority is not happy, the C.E.O.'s suffer which is only right. Mr Fain it is time to pay what is due your crew who work very very hard to make your company the success that it is so pay what is due to the working man.

I would like to see if you are man enough to answer this email.

David - August 4, 2014 7:43 PM

Service crews are paid based on mediocre earnings of their corresponding home countries - therefore they are making good money compared to their native countries inhabitants.
None force them to work for cruise companies - they are begging to get those contracts and then after getting what they dreamed about - they start to complain like 5c hookers.
Feel free not to post it :)

Jim Walker - August 4, 2014 8:21 PM

I'm-afraid-to-leave-my-last-name-David: You would know about five cent hookers.

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