An Israeli-American businessman is the CEO and chairman of the company which operates the cruise line whose ship ran aground off the Italian coast.

Micky Arison, who is also the owner of the National Basketball Association team the Miami Heat, is the head of the Carnival Corp., of which Costa Cruises is a subsidiary.

Arison, 62, is the son of Carnival Corporation founder, the late Ted Arison. He is 169 on the Forbes list of the world’s billionaires, with a net worth of $5.9 billion.

The luxury cruise liner Costa Concordia struck rocks near Giglio Island off the coast of Italy, tearing a hole in the hull, and began sinking on Jan. 13.  Six people are confirmed dead and up to 15 missing of the 4,200 passengers and crew on board the ship. 

Arison said in a statement he was “deeply saddened” by the disaster, the Wall Street Journal reported.