Micky Arison Sells 10 Million Shares of Carnival Stock

By ,   February 17, 2015 ,   Cruise Industry

The chairman of Carnival Corporation Micky Arison has sold 10,000,000 shares of Carnival stock for $433,700,000 last Friday.

The "block sale" stock transaction was performed by a trust to benefit Micky Arison. All of his shares are held either directly or indirectly in a number of trusts.

By June 2014, Arison has unloaded more than $490,000,000 of his cruise stock. In the last 12 months he has sold over $900,000,000 of Carnival cruise line's stock. 

After the latest sale, Arison family still owns about 159,200,000 Carnival stock’s shares. The vast wealth was generated by incorporating Carnival in Panama and registering the cruise ships of the line in places like the Bahamas and Panama in order to avoid U.S. taxes, wage & labor laws and safety regulations.

Carnival-owned Costa Cruises paid over $1,000,000 in fines after the disaster with Costa Concordia (killing 32 people), in order to escape responsibility in the trial of Captain Schettino.