USA TODAY has an interesting article today entitled "Titans of the Cruise Industry See Net Worth Rise."
Forbes’ annual ranking of the world’s billionaires for 2013 lists Carnival mogul Micky Arison at No. 211 with a net worth of $5.7 billion, up from $4.7 billion a year ago. Arison’s net worth has nearly doubled from four years ago.
Another Carnival heir, Shari Arison, is now worth $4.2 billion, up from $3.4 billion just three years ago, according to Forbes.
Carnival operates over 100 cruise ship among 10 brands including Carnival, P&O Cruises, Princess Cruises, Holland America Line and Cunard.
How does cruise tycoon Arison get so rich?
Registering his cruise lines in foreign countries (like Panama) to avoid U.S. corporate taxes, operating foreign-flagged cruise ships filled with employees from around the world who will work long hours for low wages, not reimbursing the U.S. government for millions incurred by federal agencies like the Coast Guard, Navy, etc., and offering peanut settlements to tax-paying U.S. citizens when his cruise ships sink or catch on fire may be part of the explanation.
Art Credit: Nickolay Lamm from MyVoucherCodes.co.uk
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