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.
Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.