The average CEO of a company included in the S&P 500 makes 268 times more than their median employee, a figure that outrages many. Cruise line CEOs blow this number out of the water.
The top cruise line CEOs are paid a minimum of several hundred to well more than 1,000 times more than a
There were two news stories this past week which prove that the maxim “rich cruise tycoons get richer” remains true while the debt-strapped cruise industry continues to struggle. Business Insider reported that Royal Caribbean Cruises, Ltd. CEO Jason Liberty collected $10,760,000 last year. Meanwhile, crew members on Royal Caribbean cruise ships made a median annual
Norwegian Cruise Line Holdings, parent company of NCL, Oceania Cruises and Regent Seven Seas Cruises, terminated nine percent of its shoreside workforce earlier this week, according to the Miami Herald. NCL did not explain why it was 
necessary to terminate nearly a tenth of its employees, particularly during the holiday season. Meanwhile, NCLH promoted
Carnival Corporation CEO Arnold Donald received over $15,000,000 in compensation in 2021, according to MarketWatch. Carnival stock (CCL) had a “two-year decline of 60.4%” while Mr. Donald’s “total compensation increased 35.1% over the past two years” to $15,060,000.
Income for Carnival Corporation #cruise / @CarnivalPLC Chief Executive Officer / CEO Arnold Donald Increased 35% in past two years to over $15,000,000 while CCL stock declined over 60% https://t.co/9DCKw87kOY. Photo via Cruise Industry News pic.twitter.com/w57TOdiUUc
— James (Jim) Walker (@CruiseLaw) February 16, 2022
The Carnival CEO’s income increased from $13,306,097 in 2020 and $11,149,514 million in 2019, according
Frank Del Rio, president and CEO of Norwegian Cruise Line Holdings, received compensation in the staggering amount of $36,400,000 in 2020, consisting primarily of nearly $18,000,000 in stock awards, according to a recent Security and Exchange Commission (SEC) filing. The news was initially reported by the cruise trade publication Cruise Industry News.
CEO Del
Carnival Corporation CEO Arnold Donald and other top Carnival cruise executives collected millions of dollars more in compensation in 2020 than in 2019 via stock awards, according to a filing with the Securities and Exchange Commission (SEC) last week. Cruise Industry News summarized the compensation in an article titled Carnival Corporation Executives Made More Money
Norwegian Cruise Line Holding’s CEO Frank Del Rio (photo above, via CNBC, in happier times in 2019) collected $17,808,364 in compensation last year, including $12,201,324 in stock awards and $3,600,000 in incentive plan compensation according to SEC filings. His compensation was down from 2018 when he collected nearly $22,600,000. Del Rio has collected over $85,000,000
Royal Caribbean Cruises’ CEO Richard Fain (photo top in happier days) collected $14,358,919 in compensation in 2019, the cruise line announced two weeks ago in a SEC filing.
Two days earlier, Royal Caribbean announced that it was laying off 25% of its workforce in the United States, due to the COVID-19 pandemic. In addition, Royal
The Sun Sentinel recently published an article, the Top 10 Highest-Paid CEOs in South Florida. Included in the top ten list, are three cruise executives: Norwegian Cruise Line Holding’s Frank Del Rio, Royal Caribbean Cruises’ Richard Fain, and Carnival Corporation’s Arnold Donald.
#1: Norwegian Cruise Line Holding’s Frank Del Rio:
The highest paid cruise
Norwegian Cruise Line Holdings Ltd. (NCLH) reports that its CEO Frank Del Rio’s total compensation for 2017 was $10.5 million.
Cruise executive Del Rio received compensation valued at $2.9 million in 2016, down from almost $32 million in 2015. According to Seatrade Cruise News, Mr. Del Rio received compensation valued at $31.9 million in 2015
The Bahamas Celebration ran aground ten days ago and sustained a breach in the hull which permitted water to enter the lower deck.
I am receiving many messages from the crew that they were required to work in dangerous conditions after the ship ran aground and returned to port in Freeport. Now the majority
Today I ran across an interesting video prepared by a Holland American Line passenger following the boiler fire on the M/S Westerdam.
You may recall that the Westerdam caught fire on June 28, 2014 as it was sailing to Alaska. The automatic fire suppression did not extinguish the fire and the crew had to
Crew members work hard on cruise ships. Waiters and cabin attendants earn wages from Royal Caribbean of only $50 a month. That’s right. $50 a month. That’s something like $1.67 a day. They depend almost exclusively on tips from the passengers to support their families back home.
Utility cleaners are not entitled to tips, and
Travel Weekly and Skift recently reported that the new CEO of Carnival Corporation, Arnold Donald, will receive the following in compensation:
.jpg)
$1 million base salary to start, with reviews by the board of directors to increase or decrease his salary;
A fixed bonus of $1.125 million for 2013;
A one-time award of performance-based restricted stock
Go big or stay home, so the saying goes.
This weekend there have been several articles discussing the two lawsuits filed last Friday against Carnival arising out of the Carnival Triumph "cruise from hell." I have thrown in my two cents in television & radio appearances and in a number of local and
Danielle Gauer, JD Candidate 2013 University of Ottawa, Faculty of Law, joins us for another guest blog. You can read about Danielle’s background and read her first guest blog here. This blog is an interesting inside look at cruising for our friends north of the border:
More and more Canadians are looking for a
.jpg)
Over the past week, CNN has aired a number of special programs about the cruise industry, revealing a number of things that the industry would prefer you not know.
The segment below focuses on the cruise lines’ efforts to avoid U.S taxes,
By registering their cruise ships in foreign countries, cruise lines avoid most U.S.
Walker & O’Neill recently settled a claim against Royal Caribbean Cruises on behalf of a seriously injured former crewmember, originally from St. Vincent in the West Indies.
The crewmember was employed as a stateroom attendant for a number of years. Stateroom attendants, also referred to as cabin attendants or cabin cleaners, are required to work
