The Securities & Exchange Commission reports that Norwegian Cruise Line (NCL) Executive Vice President Andrew Stuart sold 67,701 shares of NCL stock in a transaction last week at an average price of $40.35, for a total value of $2,731,735.35.
You can read more information about the stock sale at Ticker Report.
Mr. Stuart reportedly now owns 180,099 shares of the cruise line stock, valued at approximately $7,266,995.
So, including just his NCL cruise stock and cash from his recent NCL stock sale, Mr. Stuart is worth at least $10,000,000.
Cruise executives make fantastic money. We all know that Carnival executive Micky Arison is worth somewhere between $5,000,000,000 and $6,000,000,000 (billion). Royal Caribbean executives Richard Fain and Adam Goldstein have raked in over $100,000,000 between them. And even a vice president, like Mr. Stuart, can make $10,000,000.
At the same time, the tax-free cruise industry is incredibly cheap when it come to paying crew members a decent salary. Cleaners routinely work well over 300 hours a month for as little as $550. Crew members receive virtually no benefits.
Mr. Stuart’s company, in particular, routinely refuses to permit cruise passengers who have just lost a family member, or children diagnosed with cancer, to reschedule their vacations.
All those nickels & dimes NCL is saving off of its hard-working crew members and unfortunate customers are lining the pockets of the cruise executives.
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