Everything about Ted Arison totally explained
Ted Arison (
1924 –
October 1 1999) was an
Israeli-American businessman who co-founded
Norwegian Cruise Lines in 1966 with
Knut Kloster and founded
Carnival Cruise Lines in 1972.
Born in
Tel Aviv,
Palestine (then under the
British Mandate; now in
Israel), he fought in the
Jewish Brigade of the
British Army during
World War II. He moved to the
United States in the early 1950s and created
Carnival Cruise Lines in 1972 in which he made his fortune.
Later, he established the
National Foundation for Advancement in the Arts based in
Miami. He brought professional basketball to South Florida with the forming of the
Miami Heat in 1988, and established the philanthropic
Arison Foundation in
Israel and the
United States.
In 1990, he renounced his U.S. citizenship, in an effort to avoid U.S. Estate Taxes (and failed to meet the 10 years out of the United States rules on this matter, when he died in 1999) and returned to Israel and founded
Arison Investments. In
1997 he headed a consortium that purchased the controlling share in
Bank Hapoalim for more than $1 billion -- the largest
privatization deal in Israel's history.
His children include
Micky Arison and
Shari Arison.
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