Hubbry Logo
Ted ArisonTed ArisonMain
Open search
Ted Arison
Community hub
Ted Arison
logo
8 pages, 0 posts
0 subscribers
Be the first to start a discussion here.
Be the first to start a discussion here.
Ted Arison
Ted Arison
Ted Arison
View on Wikipedia
from Wikipedia

Ted Arison (Hebrew: תד אריסון; 24 February 1924 – 1 October 1999) was an Israeli businessman who co-founded Norwegian Cruise Lines in 1966 with Knut Kloster and soon left to form Carnival Cruise Lines in 1972.

Key Information

Early years

[edit]

Arison was born Theodore Arisohn on 24 February 1924 in Tel Aviv (in the then British Mandate of Palestine) to Meir, a wealthy businessman, and Vera Arisohn. He was a third-generation sabra of Romanian Jewish descent and studied commerce and economics at the American University of Beirut.[1] During World War II, he enlisted in the Jewish Brigade of the British Army and fought in Italy. After the British departure, he served as an officer in the Israel Defense Forces during the 1948 Arab–Israeli War, eventually achieving the rank of lieutenant colonel. From 1946 to 1951, he managed M. Dizengoff & Co., a shipping company.[2]

Career

[edit]

Frustrated by the lack of business opportunities, Arison wrapped up his business and moved to the United States in 1952. He took his family to New York in 1952 and moved to Miami, Florida, in 1966,[1] where he co-founded Norwegian Cruise Lines in 1966 with Knut Kloster.[3] In 1971 the partnership broke up on bad terms and Arison formed Carnival Cruise Lines in 1972 with the help of Meshulam Riklis.[3]

In 1981, he established the National Foundation for Advancement in the Arts based in Miami. He brought professional basketball to South Florida with the formation of the Miami Heat in 1988, and established the Arison Foundation, a philanthropic institution, in Israel and the United States.[4][5][6]

In 1986, Arison's condominium neighbor, Count de S.G. Elkaim (Vice President at E.F. Hutton & Company, Inc.), advised him to go public before an impending big correction in the stock market. Following his advice and guidance, Carnival Cruise Lines was floated on the American Stock Exchange in July 1987, one month before the stock market top and the infamous crash of October 1987.[7]

In February 1989, Arison awarded in the strictest of confidence the exclusive sale of the company at $30 per share to Elkaim. The stock market recovery from the emotional shock on the 1987 crash was not able to absorb this transaction. Consequently, having Carnival in the stock market and the ensuing rally until 1999 catapulted Arison to become one of the world's richest people.[7]

Return to Israel

[edit]

In an effort to avoid estate tax in the United States, in 1990, Arison renounced his U.S. citizenship and residence and returned to Israel, where he founded Arison Investments.[8] In 1997, Arison Investments headed a consortium that purchased the controlling share in Bank Hapoalim for more than $1 billion, the largest privatization in Israel's history.[9]

Family

[edit]

Arison married Mina Wasserman (1927–2012), who immigrated to Israel from Romania, in 1948 and they had two children: a son Micky (born 1949) and a daughter Shari (born 1957). The couple divorced after moving to Florida in 1966. In 1967 he married Marilyn "Lin" Hersh and later adopted her son Michael (born 1961).[1][10]

Death

[edit]

Arison died in Tel Aviv on 1 October 1999. Micky Arison was chief executive officer of Carnival Corporation & plc until August 2013 and is currently chairman of the company. Shari Arison is Israel's wealthiest woman, and is the owner of Arison Investments that comprises several business companies, the largest among them Bank Hapoalim, and of several philanthropic organizations that are subsidiaries of The Ted Arison Family Foundation.

At the time of his death, Arison failed by approximately nine months to meet the requirement of being outside of United States territory for 10 years for the tax benefits of his renunciation of U.S. citizenship to be realized.[8]

See also

[edit]

References

[edit]

Sources

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Ted Arison

View on Grokipedia
from Grokipedia
Theodore "Ted" Arison (February 24, 1924 – October 1, 1999) was an Israeli-American businessman renowned for founding in 1972 and building it into the world's largest cruise operator through innovative mass-market strategies that democratized ocean voyages previously reserved for the elite. Born in , , to a prosperous family with deep ties to shipping—Meir Arison operated Palestine's largest maritime firm—Ted Arison served in the during the 1948 War of Independence before emigrating to the in the 1950s, where he initially partnered with to launch Norwegian Caribbean Lines in 1966, only to split acrimoniously and strike out independently with . Starting with a single refurbished transatlantic liner, the , Arison emphasized fun, affordability, and aggressive marketing, propelling to dominate the industry and generating a personal fortune that reached an estimated $2.8 billion by 1992, making him the world's wealthiest Jewish individual at his death from in . Beyond cruises, he expanded into banking by acquiring control of Israel's and engaged in substantial philanthropy, particularly supporting Jewish causes and education in Israel and the U.S., though his legacy centers on reshaping global leisure travel via relentless commercial focus rather than any notable public controversies.

Early Life

Birth and Family Background

Ted Arison, born Theodor Arisohn, entered the world on February 24, 1924, in , then part of . He was the son of Meir Arisohn, a multimillionaire shipping magnate who owned and operated Palestine's largest maritime enterprise, and Vera Arisohn. As a third-generation Sabra—native-born to Jewish parents whose forebears had settled in the region—Arison's family traced its origins to early 19th-century Romanian immigrants who established roots in Zichron Ya'akov (formerly Zamarin), a pioneering settlement north of . His parents relocated from Zichron Ya'akov to the burgeoning in the 1920s, aligning with the city's rapid development amid Zionist enterprise. Meir's success in shipping provided a foundation of wealth and industry exposure that influenced Arison's later career, though no records indicate siblings in his immediate family.

Military Service and Education

Arison completed his secondary education at the in . At the age of 16, in 1940, he enrolled at the to study engineering, though his university studies were interrupted by the onset of . During , Arison enlisted in the and served with the in operations across and , attaining the rank of . After the war's conclusion in 1945, he returned to the region and participated in the 1948 Arab-Israeli War as a member of the (IDF), rising to the rank of Sgan Aluf (). His IDF service extended into the early 1950s, after which he transitioned to civilian pursuits in shipping.

Business Career

Initial Ventures in Shipping

Ted Arison entered the shipping industry through his family's established firm, M. Dizengoff & Co., which his father, Meir Arison, had built into Palestine's largest shipping operation, handling shipowning and agency services for multiple lines. Following his father's death after , Ted assumed control around 1946 and managed the company from until 1951, overseeing cargo operations amid the challenges of Israel's founding. In the early , the Dizengoff firm was sold to Israel's state-owned Zim Lines, prompting Arison to launch his independent shipping venture. He assembled a fleet of vessels registered under Panamanian and Honduran flags of convenience to reduce costs and navigate regulatory hurdles. This operation focused on international but encountered severe headwinds from a postwar market depression, exacerbated by the Korean War's end, which caused freight rates to plummet and vessel values to drop sharply. By 1952, facing insolvency, Arison liquidated the fleet and emigrated to the , initially settling in New York to rebuild in shipping. There, he formed a line aimed at exploiting U.S. routes, but the persistent oversupply of and weak led to failure, reinforcing the cyclical vulnerabilities of markets. These early setbacks in sea freight honed Arison's operational acumen, though he temporarily pivoted to ventures, such as acquiring Tran-Air in 1959, before returning to maritime pursuits in the mid-1960s.

Entry into the Cruise Industry

Arison first entered the cruise industry in 1966 by co-founding Norwegian Caribbean Lines in with Norwegian shipping magnate , focusing on cruises from to the . Disputes over business direction led to his departure from the partnership in 1972. That same year, Arison launched as a of Boston-based American International Travel Service (AITS), securing financing from AITS owner , a longtime associate. The venture debuted with the refurbished transatlantic liner (formerly Empress of Canada), a 26,000-gross-ton vessel acquired for $6.5 million and overhauled at a cost of $5 million to serve short cruises from to . The maiden voyage on March 3, 1972, encountered mechanical issues, including engine failures, but Arison persisted, emphasizing affordable, fun-oriented vacations to broaden cruise appeal beyond elite travelers. By 1974, amid financial strains from the Mardi Gras's operational challenges and limited initial bookings, Riklis sought to exit; Arison assumed full ownership for a nominal $1 payment plus responsibility for $5 million in company debts, marking his sole control of . This buyout positioned Arison to steer the line toward expansion, leveraging low-cost strategies like chartering older ships and targeting middle-class passengers, which laid the groundwork for 's growth into the world's largest cruise operator.

Development and Expansion of Carnival Cruise Lines

Ted Arison established Carnival Cruise Lines in 1972 as a of Boston-based American International Travel Service, securing $6.5 million from investor to purchase the former Empress of Canada, which was refurbished and renamed the TSS . The ship's maiden voyage from to the encountered mechanical issues, including running aground, but subsequent operations emphasized affordable pricing and entertainment-focused itineraries, marking the inception of the "Fun Ship" branding that differentiated Carnival from luxury-oriented competitors. In 1974, amid initial financial losses, Arison acquired Riklis's stake for a nominal $1 while assuming $5 million in debt, granting him full control and enabling strategic adjustments such as reduced sailing speeds to cut fuel costs and enhanced onboard amenities like discos and casinos to attract middle-class vacationers. This period saw fleet growth through acquisitions: the former Empress of Britain was purchased in 1975 and renamed Carnivale, followed by the Transvaal Castle in 1977, renamed Festivale. By 1978, the three-ship fleet operated seven-day cruises from ports, carrying increasing passenger volumes as demand rose for Carnival's value-driven model. Expansion accelerated in the early 1980s with Carnival's first purpose-built vessel, the Tropicale, entering service in 1982, bringing the fleet to four ships and serving 200,000 passengers annually with revenues of approximately $200 million and profits of $40 million. Arison invested in three additional newbuilds—the Holiday, Jubilee, and Celebration—at a total cost of $442 million, expanding the fleet to seven ships by the mid-1980s and solidifying Carnival's focus on short, recreational cruises over elite transatlantic voyages. A 1984 advertising campaign, budgeted at $10 million, promoted the "Fun Ship" theme nationwide, boosting bookings by appealing to demographics previously underserved by the cruise sector. The 1987 initial public offering marked a pivotal financial milestone, with selling 18% of its shares to raise $400 million, which funded further vessel orders like the Ecstasy and supported aggressive growth. This capital infusion enabled the 1988 acquisition of for $625 million, adding four ships and over 4,500 berths while diversifying into premium segments without diluting Carnival's core mass-market identity. By 1989, Carnival transported 783,485 passengers, generated over $1 billion in revenues, and posted $193 million in profits, reflecting the scalability of Arison's approach to high-volume, low-cost operations amid rising industry competition. Under his leadership through 1990, Carnival evolved from a single refurbished liner into the world's largest cruise operator by passenger capacity, driven by pragmatic innovations in marketing, fleet modernization, and route optimization.

Other Business Interests

In addition to his cruise line endeavors, Arison maintained interests in freight shipping through Nosira Shipping Ltd., a company operating out of that transported cargo using vessels named after his family members, such as Nosira Lin and Nosira Madeleine. Arison also established Leisure Company to manage casino and hotel operations in , extending his hospitality expertise beyond maritime activities. Following the public offering of Carnival Cruise Lines in 1987 and his relocation to in 1991, Arison founded Arison Investments Ltd. as a holding company focused on diversified opportunities, particularly in . Through Arison Investments, Arison led a that acquired a controlling stake in , 's largest bank, in September 1997 for approximately $1.1 billion—the country's biggest at the time. The firm also gained significant holdings in Shikun & Binui, a major construction and infrastructure company, and investments related to salt production and water sectors, including stakes tied to mineral extraction.

Philanthropy

Establishment of the Ted Arison Family Foundation

The Ted Arison Family Foundation was established in 1981 in Miami, , by Israeli-American businessman Ted Arison, founder of Carnival Cruise Lines, in collaboration with his daughter . The foundation was created to systematize and expand the Arison family's longstanding commitment to , which emphasized returning wealth to society through targeted social investments rather than ad hoc donations. Incorporated as a private nonprofit entity in that year, it received tax-exempt status from the IRS effective January 1982, enabling structured grantmaking under U.S. tax code provisions for family foundations. From its inception, the foundation prioritized initiatives aligned with Arison's values of , community improvement, and Jewish heritage, including support for programs, , healthcare access, and federated giving to Jewish organizations. Ted Arison's motivation stemmed from his personal success in building from a single vessel into a global enterprise, prompting a deliberate shift toward institutional to foster long-term societal impact over personal acclaim. This approach contrasted with less formalized giving prevalent among some contemporaries, as the foundation's structure allowed for strategic allocation of assets—initially drawn from Arison's business proceeds—toward ventures promoting and . Early activities focused on U.S.-based projects, such as advancing arts and youth development in , while laying groundwork for later expansions into Israeli causes following Arison's . The foundation's establishment marked a pivotal formalization of Arison's giving, which by the already included multimillion-dollar commitments, ensuring continuity under family oversight even after his death in 1999.

Contributions to Jewish and Israeli Causes

Ted Arison established the Ted Arison Family Foundation in 1981 in Miami, Florida, with the aim of funding community initiatives in both the and , reflecting his commitment to public welfare as a successful entrepreneur. The foundation's guiding principles draw from core Jewish values, including (charity), gemilut chasadim (acts of loving kindness), and (repairing the world), which informed its philanthropic priorities. In , Arison directly supported cultural institutions, serving as chairman of the International Committee for the Foundation and providing the funds necessary to construct the new headquarters of the Israeli Conservatory of Music in northern during the . This donation advanced and performance infrastructure, aligning with efforts to bolster Israel's artistic community. The foundation, under his initial vision, began operations in in 1993 and has since disbursed support to over 2,000 nonprofit organizations there, focusing on , youth development, vulnerable populations, and disability services—areas resonant with Jewish communal responsibilities. Arison's philanthropy emphasized long-term social investment rather than short-term aid, a approach he applied to Israeli causes amid his business successes, though specific grant amounts from his lifetime remain less documented compared to the foundation's post-1999 expansions under family leadership. His contributions underscored a personal obligation to benefit the and its people, stemming from his Israeli roots and wartime service in the .

Return to Israel

Motivations for Relocation

In 1990, Ted Arison retired as chairman of Carnival Corporation and renounced his U.S. citizenship, relocating to the following year primarily to avoid substantial American estate taxes upon his death. imposes no or estate taxes, providing a significant financial for high-net-worth individuals like Arison, whose fortune exceeded billions from his empire. This move aligned with broader tax planning strategies, as U.S. federal estate taxes at the time could reach up to 55% on estates over $600,000, a threshold Arison far surpassed. Upon reclaiming Israeli citizenship, he established Arison Investments in , channeling resources into local enterprises such as banking and construction, which further integrated his wealth into 's economy. While tax considerations dominated reports on the relocation, Arison's Israeli origins—born in 1924 near Zichron Ya'akov to a family of maritime entrepreneurs—may have contributed to a sense of returning home after nearly four decades abroad. However, contemporary accounts emphasize fiscal over sentimental or ideological factors, with no verified evidence of or political motivations driving the decision at the time of the move. Arison's subsequent activities, including major donations to Israeli causes, occurred post-relocation and appear as outcomes rather than precursors. This strategic preserved much of his estate for heirs and investments, averting potential U.S. tax liabilities estimated in the hundreds of millions.

Investments and Activities in Israel

Upon his return to Israel in 1991, Ted Arison established Arison Investments Ltd. as the family's primary business entity for operations in the country, focusing on strategic acquisitions in key sectors of the Israeli economy. The firm, headquartered in , targeted controlling stakes in established companies to leverage Arison's capital and expertise from his U.S. ventures. In 1994, Arison entered the Israeli and sector by acquiring a controlling share in Shikun Ufituach (later Shikun & Binui Ltd.), Israel's largest housing and development firm, from the labor federation. This purchase marked his re-entry into active business dealings in , capitalizing on the company's extensive portfolio of residential, commercial, and public works projects amid the nation's post-Gulf War economic recovery. Arison expanded further in 1997 with the acquisition of a in , Israel's largest bank by assets, for approximately $1.1 billion. The deal positioned Arison Investments as a major shareholder in the financial sector, influencing lending, corporate financing, and initiatives. Through these investments, Arison aimed to foster long-term value in core Israeli industries, drawing on his experience in scaling global enterprises while adapting to local regulatory and market dynamics.

Personal Life

Family and Relationships

Ted Arison married Mina Wasserman, a Romanian immigrant to , in April 1948. The couple had two children: son , born in 1949, and daughter , born in 1957. They divorced in 1966. In 1967, Arison married Marilyn "Lin" Hersh and adopted her son, Michael Arison. Lin Arison survived him upon his death in 1999. No additional marriages or significant relationships beyond these are documented in primary accounts of his life.

Lifestyle and Personal Interests

Arison owned a 27-story luxury condominium in Miami, Florida, though it remained largely unoccupied during the late . Despite his vast wealth, he exhibited resourcefulness in personal and business matters, such as emptying cash registers on his first , the , to cover fuel costs during its 1972 maiden voyage. In retirement after stepping down from Carnival in 1990, Arison pursued interests in the arts and civic causes, including founding the New World Symphony, a orchestra for young musicians in , which reflected his commitment to cultural development. He maintained a high-energy approach to life, characterized by a frenzied pace that blended oversight of investments with philanthropic activities.

Death and Legacy

Death and Immediate Aftermath

Ted Arison died of a heart attack on October 1, 1999, at his home in , , at the age of 75. He was survived by his wife, Lin Arison, son (chairman of Carnival Corporation), son Michael Arison, and daughter . Arison's funeral occurred on October 3, 1999, at Kiryat Shaul Cemetery in , reflecting his preference for privacy with no eulogies delivered. He was buried there, consistent with his relocation to in the and commitment to Jewish causes. Immediate aftermath focused on family arrangements, with no public disruptions to Corporation operations, as continued leading the company.

Long-Term Impact and Recognition

Arison's foundational role in revolutionized the cruise industry by introducing affordable, mass-market voyages aboard refurbished ships like the in 1972, shifting perceptions from elite luxury travel to accessible entertainment for middle-class families. Under his leadership until the mid-1990s, expanded from one vessel to a fleet supporting multiple brands, establishing the model for volume-driven operations that dominates the sector today, with Carnival Corporation emerging as the world's largest cruise operator by passenger volume. This approach, emphasizing fun-oriented amenities and efficient scaling, generated enduring economic impacts, including job creation in ports worldwide and contributions to tourism infrastructure, though it also drew scrutiny for aggressive expansion tactics. The Ted Arison Family Foundation, co-founded by Arison and his daughter Shari in 1981, perpetuates his philanthropic vision of "Doing Good" through sustained investments in and globally, focusing on education, youth development, vulnerable populations, and healthcare. By 2025, the foundation had supported initiatives yielding measurable social outcomes, such as funding the Arison Pediatric Emergency Medicine Center at , set to open in 2026 as Israel's most advanced pediatric facility, enhancing emergency care for thousands annually. It also backs cultural programs like the Lin & Ted Arison Israel Conservatory of Music, fostering artistic talent and community engagement in Tel Aviv-Yafo. Posthumously, Arison's contributions earned the American Association of Port Authorities' inaugural Cruise Award in 2006, recognizing his pioneering leadership in popularizing modern cruising. honors top partners annually with the Ted Arison Founder's Award, underscoring his lasting influence on industry partnerships and standards. The Americans for ' Ted Arison Young Artist Award, established in his and Lin Arison's name, continues to spotlight emerging talents, reflecting his support for institutions like the New World Symphony and . These recognitions affirm Arison's dual legacy in commercial innovation and charitable infrastructure, with the foundation's ventures expanding to address contemporary needs like and crisis response in .

References

  1. https://www.nytimes.com/1999/10/02/business/ted-arison-carnival-founder-dies-at-75.html
  2. https://www.carnival-news.com/about-us/carnival-history
  3. https://www.jewishvirtuallibrary.org/ted-arison
  4. https://www.encyclopedia.com/education/economics-magazines/arison-ted
  5. https://www.marinelink.com/article/maritime-careers/carnival-founder-arison-dies-451
  6. https://www.latimes.com/archives/la-xpm-1999-oct-02-mn-17786-story.html
  7. https://jweekly.com/1999/10/08/ted-arison-world-s-wealthiest-jew-dies-in-tel-aviv/
  8. https://www.sdjewishworld.com/2024/02/24/todays-jewish-birthday-ted-arison/
  9. https://www.arisonfoundation.com/en/about/ted-arison/
  10. https://www.jewishvirtuallibrary.org/arison-ted
  11. https://www.arisonfoundation.com/en/about/history/
  12. https://www.findagrave.com/memorial/86014404/ted-arison
  13. https://www.travelweekly.com/Cruise-Travel/Carnival-Cruise-founder-Ted-Arison-dead-at-75
  14. https://www.marinelink.com/news/carnival-founder-arison302897
  15. https://www.nndb.com/people/767/000207146/
  16. https://www.trains-worldexpresses.com/webships/800/810.htm
  17. https://www.carnivalcorp.com/our-company/our-history/
  18. https://www.cruisecritic.com/articles/carnival-cruise-line-history
  19. https://cruiseradio.net/the-history-of-carnival-cruise-line/
  20. https://www.fundinguniverse.com/company-histories/carnival-corporation-history/
  21. https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/carnival-corp
  22. https://www.encyclopedia.com/books/politics-and-business-magazines/carnival-cruise-lines-inc
  23. https://cruisesheet.com/cruise-lines/carnival/
  24. https://www.shipsnostalgia.com/media/nosira-lin.83616/
  25. https://www.arisoninvestments.com/
  26. https://www.nytimes.com/1997/09/06/business/investor-group-wins-bid-for-israeli-bank.html
  27. https://massinvestordatabase.com/publicfirm.php?name=Arison%2BInvestments
  28. https://fconline.foundationcenter.org/fdo-grantmaker-profile?key=ARIS001
  29. https://www.insidephilanthropy.com/find-a-grant/grants-a/ted-arison-family-foundation
  30. https://projects.propublica.org/nonprofits/organizations/592128429
  31. https://pitchbook.com/profiles/limited-partner/53155-99
  32. https://startupportugal.dealroom.co/investors/ted_arison_family_foundation_usa
  33. https://www.healthcaregrants.info/GrantDetails.aspx?gid=27002
  34. https://www.icm.org.il/en/the-arison-family-and-the-conservatory/
  35. https://www.arisonfoundation.com/en/about/chairmans-message/
  36. https://www.developmentaid.org/organizations/view/628424/ted-arison-family-foundation
  37. https://www.haaretz.com/2003-01-29/ty-article/from-riches-to-riches/0000017f-dc1f-df62-a9ff-dcdf44b80000
  38. https://www.miaminewtimes.com/news/the-deep-blue-greed-6356944/
  39. https://mondoweiss.net/2013/06/the-har-homa-heat-meet-the-settlement-building-family-that-owns-the-miami-heat/
  40. https://www.tampabay.com/archive/1999/10/08/arison-barely-misses-tax-break/
  41. https://www.linkedin.com/company/arison-investments
  42. https://www.jpost.com/magazine/rough-media-seas-for-arison
  43. https://en.globes.co.il/en/article-378593
  44. https://www.adweek.com/brand-marketing/how-carnival-changed-way-we-think-about-cruises-174452/
  45. https://www.travelweekly.com/Editorials/Ted-Arison
  46. https://www.prnewswire.com/news-releases/new-state-of-the-art-pediatric-emergency-center-coming-to-israel-thanks-to-save-a-childs-heart-and-the-ted-arison-family-foundation-302381549.html
  47. https://www.telavivfoundation.org/initiatives/conservatory-of-music/
  48. https://maritime-executive.com/article/2006-02-07cruise-line-founder-honored-with-ameri
  49. https://www.carnival-news.com/2017/07/25/carnival-cruise-line-honors-top-travel-agencies-with-excellence-awards
  50. https://www.americansforthearts.org/events/national-arts-awards/award-categories
  51. https://www.arisonfoundation.com/en/about/
Add your contribution
Related Hubs
User Avatar
No comments yet.