If you’re a cruise enthusiast, you might have come across the name Carnival Cruise Lines. It’s one of the most popular and largest cruise lines in the world.
But do you know which country owns Carnival Cruise Lines? In this article, we’ll explore the ownership of Carnival Corporation & plc, the parent company of Carnival Cruise Lines.
What is Carnival Corporation & plc?
Before diving into the ownership of Carnival Cruise Lines, let’s first understand what Carnival Corporation & plc is. It’s a multinational cruise company that operates several cruise lines, including Princess Cruises, Holland America Line, Seabourn Cruise Line, and of course, Carnival Cruise Lines. The company was formed in 1972 as Carnival Cruise Line by Ted Arison in Miami, Florida.
The Ownership of Carnival Corporation & plc
Carnival Corporation & plc is a dual-listed company with its headquarters in Miami and London. The company is incorporated in Panama and has its operational headquarters in Southampton, UK. As for ownership, it’s a publicly traded company with shares listed on both the New York Stock Exchange (NYSE) and London Stock Exchange (LSE).
The majority owner of Carnival Corporation & plc is Micky Arison, son of Ted Arison who founded the company. Micky Arison owns more than 20% of the company’s shares through his family trust and serves as Chairman Emeritus.
The Role of Saudi Arabia
In recent years, there have been reports that Saudi Arabia’s sovereign wealth fund has acquired a significant stake in Carnival Corporation & plc. According to a filing with the Securities and Exchange Commission (SEC) in August 2020, Saudi Arabia’s Public Investment Fund (PIF) held an 8.2% stake in the company.
However, it’s worth noting that PIF’s investment was made during a time when cruise lines were struggling due to the COVID-19 pandemic. The investment was seen as a sign of confidence in the industry’s long-term prospects, and PIF has not indicated any intention to increase its stake or take control of the company.
Conclusion
To summarize, Carnival Cruise Lines is owned by Carnival Corporation & plc, a multinational cruise company that’s publicly traded on both the NYSE and LSE. The majority owner of the company is Micky Arison, with Saudi Arabia’s sovereign wealth fund holding a minority stake. As a cruise enthusiast, it’s always good to know who owns your favorite cruise line and how they operate.