Richard Fain has started his Christmas shopping with a near $2m purchase of shares in Royal Caribbean Cruises.
Fain, the company’s chief executive, bought 18,900 shares at $106 each this week, according to an SEC filing.
The shares were snapped up by The Montana Trust, an investment vehicle for the benefit of certain members of the Fain family, making Fain an indirect owner of the latest batch of stock.
Fain owns 842,537 Royal Caribbean shares directly and a further 235,000 via investment trusts.
Shares in the cruise line closed at $105.07 each yesterday, leaving Royal Caribbean with a market capitalization of $23.14bn.
Last month, as the company named the world’s largest cruise ship Symphony of the Seas, 71-year-old Fain told TradeWinds he had no plans to retire.
Following the June takeover of Silversea Cruises, Fain said he was looking to work with fellow industry veteran Manfrede Lefevre to grow that brand.
"I think we have a very good partnership with Manfredi Lefevre who founded it and I think he’s an important force in making it successful," he said in an interview onboard the giant vessel.
