RCCL Chairman Richard Fain Cashed Stock Worth Around $2,500,000

Richard Fain Royal Caribbean Royal Caribbean top executive Richard Fain reportedly sold 20,000 shares of Royal Caribbean (RCL) stock this week for a total amount of approximately $2,500,000.

In a transaction this past Monday, November 13th, he sold his shares at an an average price of $123.76, for a total value of $2,475,200.00. CEO Fain officer reportedly now owns 895,416 shares of his cruise company’s stock, valued at around $110,816,684.16. 

In August 2017, Mr. Fain sold over $24,000,000 of Royal Caribbean stock. 

Have a thought? Please leave a comment below or join the discussion on our Facebook page.

Interested in this issue? Read Cruise Executive Richard Fain Hits the Jackpot Again.

Photo Credit: Royal Caribbean Press Center

CEO Richard Fain Profits From RCL Stock Buy

Richard FainYesterday, Royal Caribbean's Chairman and CEO Richard Fain bought 29,190 shares of RCL stock, in a series of trades for an average of $68.5161 per share, worth nearly $2,000,000, according the to an article in Seatrade and SEC forms.

Today, with the RCL stock up over 6.50% from yesterday's close, his $2,000,000 worth of shares purchased yesterday is now worth $2,139,627, for a nice one-day profit of around $140,000.

The SEC forms indicate that he owns 1,068,881 RCL shares directly and 426,912 indirectly which at the current price of $73.30 is worth $109,6416,269.  

Mr. Fain purchased the stock one day after his company's stock price dropped more than 6% following the release of the cruise line's second quarter earnings. 

Mr. Fain previously sold 80,516 shares of RCL stock last October at $98.80 per share for a total value of $7,955,335.00.

Mr. Fain collected $9,388,569 in total compensation last year.

Interested in the issue?  Read: Cruise Executive Richard Fain Hits the Jackpot Again.

Photo Credit: Linkedin 

Cruise Executive Richard Fain Hits the Jackpot Again

According to the SEC, Royal Caribbean CEO Richard Fain (below right) sold 87,488 shares of his RCL stock at an average price of $76.41, for a total value of $6,684,958.08.

After the transaction, cruise executive Fain still owns 1,139,613 shares of his cruise line stock valued at approximately $87,077,829.33.

I wrote a similar article last December entitled Royal Caribbean Executive Cashes In Again about Royal Caribbean's Chief Operating Officer Adam Goldstein unloading 90,000 shares of Richard Fain Royal Caribbean cruise executive RCL stock. COO Goldstein sold a small portion of his RCL stock at an average price of $77.31 for $6,957,900.00. Following the the sale, he still owns 310,724 shares of his cruise stock, valued at approximately $24,022,072.

All of this is peanuts compared to the vast wealth of Carnival's Micky Arison who recently sold $433,700,000 worth of Carnival stock.

The cruise business is like running a crooked bootlegging business in the 1930's. There's no taxes to pay, the feds leave you alone, and the money rolls in by the boatloads. The profits are enormous. For the cruise executives, it must be liking hitting the jackpot every single night.

I curious to hear from the crew members of these two cruise lines regarding what they think these cruise executives have done to benefit the hard-working crew?

Have a comment? Please leave a comment on our Facebook page.

 

Photo Credit: Flickr - United Way of Miami-Dade