Blog Entry

Forbes: Heat owner Micky Arison lost $1.3 billion

Posted on: January 5, 2012 1:43 pm
Posted by Royce Young

Micky Arison had a pretty good year. LeBron James and Chris Bosh came to South Beach, the Heat made it to The Finals and his franchise is set up to compete for championships for at least the next four or five years. He's got maybe the most visible, hottest franchise in the league and the Heat are making some money.

Except it wasn't really a great year for Arison, in terms of money.

According to Forbes, Arison lost an estimated $1.3 billion (with a "b") last year. Arison is the majority owner of Carnival Cruise Lines, and his share price decreased 28 percent because of the poor U.S. economy. Just with the cruise business alone, Arison lost the money and was named one of the magazine's biggest losers for 2011.

Arison was one of the five owners to vote against the league's new collective bargaining agreement, saying he did it in "protest" of the new deal. He was also fined during the lockout $500,000 because he tweeted to an upset fan that they were "barking at the wrong owner."

Arison wasn't one of the so-called "hardliners" that were pushing for a hard cap and tougher system, but you can see why some of these owners wanted to guarantee themselves profits with their franchies. Due to the sagging economy, their primary businesses have taken a hit and now they're looking for their basketball organization to make a little.

Arison recently was ranked No. 75 by Forbes in its top 400 richest Americans, but with a $1.3 billion hit to his wallet, you've got to think that might change a bit.

Via I Am A GM
Category: NBA

Since: Jun 20, 2010
Posted on: January 5, 2012 5:01 pm
This comment has been removed.

Post Deleted by Administrator

Since: Mar 28, 2008
Posted on: January 5, 2012 4:28 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

wah.  someone has more money than me.  wah. wah.

income gap growing..wah.   anybody ever heard of compound interest?

mamba who are you to decide how much money anybody needs.   that money was earned.   someone took a risk and started carnival.   how many jobs does carnival create?   how many people work for the Miami Heat?  

get over yourself.  there will always be richer people than you.  not everyone can be rich, but we can all be poor.  trickle up poverty.

Since: Dec 2, 2010
Posted on: January 5, 2012 4:27 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

You all think it's funny, but I lost $178 million myself last year.  That's 8% of my overall net worth, and it hurts!  I'm asking you as fellow citizens that when your envy begins to get to you, try to remember that we super wealthy are people just like the rest of you-- only better.  So try to have a heart-- and stop dwelling on the fact that my kids will have their own personal jets by the time yours will get their first bycicles.  And then go back to whatever squalid, filth-infested occupy movement at which you are currently squatting and pray for rain so it will wash the stench off of your grubby, soiled, nat-infested bodies.  Bwaa ha ha ha ha....

Since: Aug 9, 2009
Posted on: January 5, 2012 4:26 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

Perhaps it's due to the lack of tie and vodka eyes.

Since: Jan 5, 2012
Posted on: January 5, 2012 4:14 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

Maybe some do make their billions out of nothing, but it's very rare. Even this Micky Arison is so rich because he inherited the Carnival Cruise Lines from his father, his father also founded the Heat in Miami, so Micky also inherited that... There are some that are able to live the "American dream" but most people, you included from your description of yourself, are not able to because there is an elite group of wealthy people that dominate the wealth of this world. The fact that he is still a multi-billionaire after losing $1.3 billion is really kind of sickening knowing how many people can't even get a job or work for meager wages while he has billions of dollars that he certainly does not need. Anyways, just wanted to show that he did not work hard to make his billions, he was simply born into the right place at the right time.

Since: Jun 25, 2009
Posted on: January 5, 2012 4:02 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

As a guy that works for himself but has also tried to succeed in a few other businesses in his life but failed, I have nothing but respect for any billionaire out there.  Everybody smashing these owners has no idea how difficult it is to succeed in business.  Most of these owners didn't start with or make their fortune in the NBA, they started a very long time ago somewhere else, invested their money, worked very hard and took tremendous risks to get where they are today.  I'm not bitter towards these people... if anything I envy them because they've done what 99.99999999 percent of people on this planet can't even dream of doing. 

Since: Dec 22, 2011
Posted on: January 5, 2012 3:56 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

@maxbps. You must be one of those billionaires we are whining about!

Since: Sep 28, 2010
Posted on: January 5, 2012 3:48 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

He could invest in Kleenex

Since: Apr 12, 2007
Posted on: January 5, 2012 3:45 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

It just amazes me how many so-called 'open-minded' people turn on and attack someone for being a successful entreprenuer - which means having the guts to risk it all, busting one's rumpus, and being the major reasons that THOUSANDS of people have jobs. As if the measure of one's success is somehow a BAD thing. $21B?  $19B?  GREAT!  Good for him.  i guess i shouldn't be all that surprised.  Envy is one of the Seven Deadly Sins.

Since: Aug 22, 2006
Posted on: January 5, 2012 3:30 pm

Forbes: Heat owner Micky Arison lost $1.3 billion

WOW.  When I read past all the blah, blah, blah, what i read is my own words: how much money do you have to have to lose $1.3 billion.  shaking my head....A GRIP!

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