Royal Caribbean Cruises Ltd. chairman and CEO Richard Fain acquired 18,900 shares of Royal Caribbean (“RCL”) stock for $1,990,000 or a weighted average price of around $105.60 a share, according to Seatrade Cruise News.

Mr. Fain bought the RCL shares on Thursday. The stock is reportedly for a trust primarily for the benefit of certain Fain family members.

After the transaction, Mr. Fain owns 842,537 shares directly and 235,106 shares indirectly for a total of 1,077,643 shares.

RCL closed at $105.07 on the day of the trade.

At close of business on Friday, RCL stock was trading at $107.09, raising the value of Mr. Fain’s Royal Caribbean stock to $126,181,218.87.

Royal Caribbean Chairman Mr. Fain remains the highest paid executive in the cruise industry.

Mr. Fain is the highest paid cruise executive for the second year in a row. Mr. Fain was paid $13,343,413 last year (2017), an increase of nearly three million dollars, from $10,405,684 in 2016.

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Photo image: Consumerist