COO Goldstein Sells Over $14,000,000 in Royal Caribbean Stock

Richard Fain Adam Goldstein Royal Caribbean CruisesRoyal Caribbean President and Chief Operating Officer (COO) Adam Goldstein (photo, to the right) sold 120,000 shares of his company's cruise stock on August 2 and 3, 2017.  The stock was sold at an average price of $118.21 for a total sale of $14,185,200.00, according to the SEC.  

This follows the sale of RCL stock by CEO Richard Fain earlier in the week, where he collected $24,406,075.98. Cruise executives Goldstein and Fain, who often sell big blocks of company stock in tandem like this, together sold over $38,500,000 in RCL stock last week. 

Following the sale, COO Goldstein still owns 191,252 shares of RCL stock, valued at $22,607,898.92. The sale was disclosed in a document filed with the SEC

After the sales last week, Mr. Goldstein and Mr. Fain now own over $134,000,000 of RCL stock.

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Photo credit: Royal Caribbean press center.

The Rich Get Richer: Cruise Executive Goldstein Unloads $2,599,935.36 of Royal Caribbean Stock

Media reports say that Royal Caribbean Cruises Chief Operating Officer (COO) Adam Goldstein sold 42,152 shares of his cruise company’s stock yesterday.

The shares were sold at an average price of $61.68 for $2,599,935.36.

COO Goldstein still owns 370,724 shares of Royal Caribbean stock, valued at $22,866,256.

Royal Caribbean announced its earnings results on Thursday. The cruise line reported revenue of $1.98 billion for the quarter. The company’s quarterly revenue was up 5.2%.  

Royal Caribbean We last reported on Mr. Goldstein in February when he sold 44,256 shares of Royal Caribbean stock at an average price of $52.96, for a total transaction of $2,343,797.76.  

What do the hard working crew members and the loyal shore-side cruise employees think of all of the money Mr. Goldstein is raking in? 

The cruise line pays a minimal salary to Royal Caribbean waiters and cabin attendants of only $50 a month; the cruise passengers pay tips to the waiters and stewards but the cruise line is scooping up much of the tips to pay other crew member's salaries. Employees like utility cleaners earn a pittance of around $550 a month (with no tips) working around 11-12 hours a day, every day of the month during contracts that are 6-8 months long.

In September of last year, Royal Caribbean fired over one-hundred employees in its corporate offices in order to increase profits. You can read about that here: Loyal to Royal? Royal Caribbean Axes 100 Jobs in Corporate Headquarters.

What's the saying? The rich get richer, the poor get poorer.

Royal Caribbean: The Rich Get Richer, the Poor Get Poorer

Royal Caribbean Cruise Line CEO Adam GoldsteinRoyal Caribbean Cruises President and CEO Adam Goldstein sold 44,256 shares of Royal Caribbean stock yesterday.  Zolimax News reports that Mr. Goldstein sold his stock at an average price of $52.96, for a total transaction of $2,343,797.76.

After the sale, Mr. Goldstein's stocks total 358,804 shares, valued at approximately $19,002,260.

Royal Caribbean (RCL) has a 52-week low of $31.35 and a 52-week high of $53.42. 

We last reported on the cruise president's stock sales in October of last year when he sold 7,855 shares of RCL stock at an average price of $43.22, for a total value of $339,493.10. At that time, he reportedly owned 335,654 shares of Royal Caribbean stock, valued at approximately $14,506,966. 

It looks like the cruise executive's net worth has increased by over $7,000,000.

Royal Caribbean pays a salary to its waiters and cabin attendants of only $50 a month; the cruise passengers pay tips to the waiters and stewards but Royal Caribbean is scooping up much of the tips to pay other crew member's salaries. Employees like utility cleaners earn a pittance of around $550 a month (with no tips) working around 11-12 hours a day, every day of the month during contracts that are 6-8 months long. 

In September of last year, Royal Caribbean fired over one-hundred employees in its corporate offices in order to increase profits. You can read about that here: Loyal to Royal? Royal Caribbean Axes 100 Jobs in Corporate Headquarters.

 

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Photo Credit: Adam Goldstein - Cruise360 Vimeo