Micky Arison is the proud owner of the Miami Heat, which happens to be one of the most successful NBA franchises in recent years. While this is what the 73-year-old might be most known for — at least in the sports circle — the Heat isn't actually Arison's bread and butter, so to speak. Currently, Micky Arison's net worth in 2023 is estimated to be a whopping $10 billion. Let's have a look at all the staggering details of this man's empire.
Micky Arison's net worth in 2023 (estimate): $10 billion
According to Celebrity Net Worth, Micky Arison's net worth in 2023 is estimated to be $10 billion, making him one of the wealthiest men in the United States. As mentioned previously, he is most known to sports fans as being the owner of the Miami Heat. Under his watch, the team has won no less than three championships, and they are now looking to win their fourth in the 2023 NBA Finals against the Denver Nuggets amid a truly amazing Jimmy Butler-led NBA Playoffs run.
How did Micky Arison make his money?
Micky Arison was born on June 29, 1949, in Tel Aviv, Israel. He migrated to the United States at a young age together with his family. Ted Arison, Micky's father, is the one who started it all. Upon arriving in America, Ted cut his teeth in the air cargo business where he would spend a decade working in the industry. It was during this time that Ted created the Norwegian Caribbean Lines with his friend, Knut Kolster. The pair started off the business with just one ship, but it was with this solitary asset that they started revolutionizing the cruise industry in America. They changed the game by offering more affordable cruises that were shorter in length as compared to the more conventional cruises that often took months. Arison and Kolster also put a lot of focus on the quality of their ships as opposed to the actual destinations of their cruises.
For his part, Micky Arison joined his father in the business after deciding to drop out of the University of Miami. This was after Ted got involved in a ferocious lawsuit against Kolster over contract and profit disputes. In 1972, Ted decided to set up a new cruise line which he called Carnival. This was where it all started for Micky, who at that time, decided to stop schooling in order to become a sales agent for his father's new company.
Right now, Micky Arison is the chairman of the Carnival Corporation, which has an estimated net worth of $12.7 billion. It is one of the biggest players in the cruise industry in the world, boasting no less than 90 vessels across nine sub-brands.
How much did Micky Arison buy the Heat for?
It was in 1995 that Micky Arison purchased the Miami Heat franchise. At that time, Arison paid $32.5 million for the ownership of the team.
Early in his tenure, Arison hired Pat Riley as the team's president. Riley, who also served as the team's head coach in multiple stints, has been integral to the success of the organization over nearly three decades. One of the most significant moves Riley (and Arison) will be remembered for is his success in recruiting LeBron James to South Beach in 2010. Along with Dwyane Wade and Chris Bosh, LeBron would lead the Heat to back-to-back titles in 2012 and 2013. These were the second and third championships under Arison and Riley's watch after the Heat won their first-ever franchise title in 2006, led by the duo of Dwyane Wade and Shaquille O'Neal.
It is also worth noting that Micky's father, Ted, also played a key role in the Heat organization. It was actually Ted who brought the franchise to South Floride in 1988.
How much are the Heat worth in 2023?
Thanks to their success over the past 28 years, the Miami Heat is now one of the biggest and most profitable franchises in the NBA. Currently, the Heat has an estimated net worth of $3 billion, per Forbes. They have an annual revenue of $326 million. Since purchasing the team in 1995 for $32.5 million, Micky Arison has grown his investment nearly a hundred times.
What else does Micky Arison own?
Micky Arison has kept his main source of income close to his chest. Currently, he still sits as the chairman of Carnival Corporation and is still heavily involved in the general scope of the business. He balances his time as the owner of the Miami Heat as well, where he also plays a key role as a decision-maker in terms of the broader and macro perspective of the organization. These two massive businesses are what keep Arison busy on a day-to-day basis.