Heat Owner Micky Arison Lost $1.3 Billion Last Year, Forbes Says
You thought your 2011 finances were bad? Despite his NBA team having its best year ever, Micky Arison's net worth dropped somewhere in the neighborhood of $1.3 billion last year, according to Forbes. Arison's main source of income comes from his CEO role and hefty financial stake in Carnival Cruise Lines, and well, it wasn't a good year at sea.
Forbes says Carnival's stocks dropped 28 percent last year, and because Arison is the majority owner of the stock, it surely affected his wallet. "High unemployment and rough economy made customers seasick," Forbes writes.
We should note that Forbes' estimates of net worth aren't exact, so neither are its estimates of losses, but it stands to reason Arison was hurt by Carnival's stock drops.
He also was fined $500,000 by the league for making a comment on Twitter about the lockout, but that's small change for Arison.
Don't feel too bad for the guy. He's still worth $4.5 billion, and it's not like rent at the American Airlines Arena is costing him anything.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss Miami New Times' biggest stories.