Arison founded cruise company Carnival Cruise Line in 1972.

He had previously co-founded Norwegian Caribbean Line with Knut Kloster in 1966.

• He was the founding owner of the NBA's Miami Heat in 1988.

• In 1990, he renounced his U.S. citizenship and returned to Israel, where he founded Arison Investments; his son, Micky Arison, went on to lead Carnival Corporation.