Royal Caribbean chairman Richard Fain will have an even bigger smile on his face than usual when he welcomes passengers on board Allure of the Seas in a couple of weeks.
He has just cashed in 150,000 shares in his company, selling them for just over $40 each or a total of $6 million (more than £4 million) according to industry observer Seatrade Insider.
Fain, 62, who has been a director of Royal Caribbean since 1979 and at the head of the company since 1988, still holds 1.26 million shares and, indirectly through trusts for members of his family, another 571,000.
The $6 million is small change compared to the $1 billion (£676 million) cheque he signed last week when taking delivery of Allure – the biggest cruise ship in the world – from builders STX in Finland.
My picture shows him tackling the FlowRider on board another of the line’s ships, Independence of the Seas.
UPDATE: A day later, Fain sold another 150,000 shares held indirectly by family trusts for a slghtly better price, this time receiving about $6.3 million (about £4.25 million).
About the Author: John Honeywell
John Honeywell is a travel writer specialising in cruise ships and cruise travel. Winner of CLIA UK's Contribution to Cruise award 2017.
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