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 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?
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Photo Credit: Flickr – United Way of Miami-Dade