Arison is chairman of Carnival, the world's largest cruise operator. The Miami-based company has more than 100 ships sailing under brands including Cunard and Princess. The fleet serves about 13 million passengers in a normal year and had revenue of $12.2 billion in the year to Nov. 30, 2022. He also owns the NBA's Miami Heat.
Arison is a shareholder in Carnival Corp, the world's largest leisure travel company, according to its website. He owns a 7.7% stake through a Wilmington, Delaware-based holding company and various trusts, according to the company's 2023 proxy statement.
He isn't credited with about 35 million shares in Carnival held by the Artsfare 2005 Trust because Arison doesn't have an economic interest in them, according to the 2023 proxy. The billionaire inherited the majority of the stake from his father, Ted, who died in 1999.
His father co-founded the Miami Heat basketball team in 1988 and Micky Arison took over seven years later. The Heat is valued based on a December 2023 analysis from sports consultancy Sportico.
The value of his Arison's cash holdings is based on proceeds from dividends, insider transactions, taxes and market performance.
Vance Gulliksen, a spokesman for Arison, declined to comment on the billionaire's net worth calculation.
Micky Arison's father, Ted, founded Carnival Cruise Lines in 1972. The elder Arison, who was born in Tel Aviv, immigrated with his family to the United States in the 1950s. Micky Arison still has close ties to Israel, where his sister, Shari, lives and is one of its richest citizens.
After dropping out of the University of Miami, Arison began his career working at Carnival in the sales department, becoming reservations manager in 1974. Five years later he was made president of the company that operated three ships. Today the fleet numbers 100 vessels. Carnival sold shares in an initial public offering in 1987, raising $400 million. It acquired the Holland America Line two years later.
Arison is the managing general partner of the Miami Heat basketball team. The team has won three NBA championships under Arison. The second one, in 2012, came two years after the acquisition of the league's most valuable player, Lebron James.