to become one of the world's richest people. Return to Israel In an effort to avoid estate tax in the United States, in 1990, Arison renounced his U.S. citizenship and residence and returned to Israel, where he founded Arison Investments. In 1997, Arison Investments headed a consortium that purchased the controlling share in Bank Hapoalim for more than $1 billion, the largest privatization in Israel's history. Family Arison married Mina Wasserman (1927-2012), who immigrated to Israel from Romania, in 1948 and they had two children: a son Micky (born 1949) and a daughter Shari (born 1957). The couple divorced after moving to Florida in 1966. In 1967 he married Marilyn "Lin" Hersh and later adopted her son Michael (born 1961). Death Arison died in Tel Aviv on 1 October 1999. Micky Arison was Chief Executive Officer of Carnival Corporation & plc until August 2013 and is currently chairman of the company. Shari Arison is Israel's wealthiest woman, and is the owner of Arison Investments that comprises several business companies, the largest among them Bank Hapoalim, and of several philanthropic organizations that are subsidiaries of The Ted Arison Family Foundation. At the time of his death, Arison failed by approximately nine months to meet the requirement of being outside of United States territory for 10 years for the tax benefits of his renunciation of U.S. citizenship to be realized. See also Arison family References Sources External links The Ted Arison Family Foundation website 1924 births 1999 deaths British Army personnel of World War II Carnival Corporation & plc people Israeli bankers Israeli billionaires Israeli colonels 20th-century Israeli Jews Israeli people of Romanian-Jewish descent Israeli philanthropists Jews in Mandatory Palestine Miami Heat owners Norwegian Cruise Line People who renounced United States citizenship People from Zikhron Ya'akov People from Tel Aviv Israeli businesspeople in shipping American businesspeople in shipping Jewish Brigade personnel 20th-century philanthropists Burials at Kiryat Shaul Cemetery