Royal Caribbean Chairman Richard 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.
Royal Caribbean enjoyed a record earnings year in 2017.
The Miami-based cruise line just reported strong first quarterly returns for 2018 – net income of $218,700.000 (million), revenues of $2,027,000,000 (billion) and passenger ticket revenues of $1,425,000,000 (billion).
Financial records also reveal that Mr. Fain sold 20,000 shares of RCL stock two weeks ago. In a transaction dated Friday, April 13th, he sold 17,500 shares of stock at an average price of $114.84, and 2,500 shares at an average price of $115.40 for a total transaction of nearly $2,300,000.00. Following the sale, SEC records reflect that the chief executive officer now own 882,537 shares of the company’s stock, valued at over approximately $100,000,000.
Royal Caribbean is the leader of the "over-sized" cruise ship club (think Oasis of the Seas, Allure of the Seas, Harmony of the Seas) with its newest billion-dollar Oasis-class ship (and largest cruise ship in the world) Symphony of the Seas which was delivered from the shipyard last month.
But can the cruise business support the many huge ships coming on line? Skift just published Royal Caribbean Ups Forecast But Wall Street Worries About Too Many Ships.
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Interested in this issue? We suggest reading Fearless Fain, Royal Caribbean’s CEO.
Photo Credit: Carmen Molino YouTube – "Symphony of the Seas delivery. Richard Fain talks to the audience."