Micky Arison

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DEFINITION of 'Micky Arison'

The CEO and chairman of cruise operator Carnival Corp. Arison also bought the the NBA team the Miami Heat, in 2010. Micky Arison was born in Israel in 1949 and dropped out of college in Miami to start working in the sales department at Carnival, which was founded by his father, Ted Arison, in 1972. Arison became president in 1979, helped the company go public in 1987, and became chairman and CEO in 1990. He has lead Carnival through the acquisitions of several other cruise lines, including Holland America, Seabourn, Cunard, Costa Cruises and Princess, which expanded the company into the luxury cruise market and gave it approximately a 50% market share. He has also helped Carnival's cruises to frequently operate at full occupancy, increasing the company's profitability.

INVESTOPEDIA EXPLAINS 'Micky Arison'

In 1995, Mickey Arison became managing general partner of the Heat and hired Pat Riley as coach. He helped make the team more competitive, with numerous playoff appearances, and helped turn it into a championship team that won the title in 2006. Arison served a three year term as chairman of the NBA Board of Governors and has been named to Forbes' list of the world's richest people.

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