In the last week, Carnival’s Micky Arison sold over $78,000,000 of his cruise line’s stock.
On June 6th, Arison sold 961,717 shares of the cruise company’s stock at an average price of $40.24, for a total value of $38,699,492.08.
On June 10th, Arison sold 992,369 shares at an average price of $40.35, for a total value of $40,042,089.15.
He also sold $395,000,000 in Carnival stock in early March. By my calculations, Arison freed up over $473,000,000 in cash in 3 months. You can track Arison’s Carnival stock transactions here.
It’s an extraordinary amount of money. Yet Carnival continues to screw its crew members, left and right. Consider reading Greed On the High Seas: "Poop Cruise" & Concordia Cruise Executive Cashes $395,000,000 of Carnival Stock.
Considering how badly Arison’s Miami Heat have been playing basketball in the NBA finals (now down 3-1 to the San Antonio Spurs), perhaps Arison will be spending some time in the future in England watching soccer.
June 16 2014 Update: On June 12th Arison sold another 445,008 shares of Carnival stock at an average price of $40.15, for a total transaction of $17,867,071.20. That means, by my calculations, Arison has unloaded over $490,000,000 in a little over 3 months.
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