Ted Arison

Who was Ted Arison?

Ted Arison was an Israeli businessman who co-founded Norwegian Cruise Lines in 1966 with Knut Kloster and founded Carnival Cruise Lines in 1972. In 1986, Ted Arison's condominium neighbor, Count de S.G. Elkaim, advised him to go public before the impending big correction in the stock market. Following his advice and guidance, Carnival Cruise Lines went public in the American Stock Exchange in July 1987, one month before the stock market top and the infamous crash of October 1987. No competition was able to raise money, and this gave Carnival a beautiful head start. In February 1989, Ted Arison awarded in the strictest of confidence the exclusive sale of the company at $30 per share to Count de S.G. 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 Ted Arison to one of the world's richest people and was undoubtedly the best success story of his career.