Rick Caruso, an American businessman and real estate developer, has an estimated net worth of $4 billion. He is the founder and CEO of Caruso, a prominent real estate development company responsible for creating some of Southern California’s most popular shopping and entertainment destinations. Caruso’s developments include The Grove, Americana at Brand, Palisades Village, and the Calabasas Commons. His journey from a young lawyer to a billionaire developer is marked by significant milestones and contributions to the urban landscape of California.
| Rick Caruso Net Worth | $4 Million |
| Date of Birth | January 7, 1959 |
| Place of Birth | Los Angeles, California |
| Nationality | American |
| Profession | Businessman And Real Estate Developer |
Early Life
Rick Caruso was born on January 7, 1959, in Los Angeles, California. His entrepreneurial spirit is likely influenced by his father, Henry Caruso, who founded Dollar Rent-A-Car and owned numerous car dealerships in the Los Angeles area. Rick Caruso pursued higher education at the University of Southern California, where he earned a bachelor’s degree. Following this, he obtained a law degree from Pepperdine University. Initially, he worked as a real estate lawyer for developers, but his passion for real estate development soon led him to establish his own company.
Rick Caruso Career
In 1987, Rick Caruso founded Caruso Affiliated (now known simply as Caruso). Over the next 15 years, he focused on developing industrial buildings and projects across California. Some of his earliest and most notable projects include The Grove at Farmers Market in Los Angeles and the Americana at Brand in Glendale. These developments set a new standard for shopping centers, blending retail, dining, and entertainment in open-air environments.
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Caruso’s expertise extended beyond California. In Las Vegas, Caruso Affiliated collaborated with Caesars Entertainment to develop The Linq, a unique retail and entertainment destination on the Las Vegas Strip. This project transformed a back alley into a vibrant quarter-mile stretch featuring restaurants, bars, retail shops, and entertainment venues. Caruso’s company provided design, merchandising, leasing, and strategic oversight for The Linq, which became a significant addition to Las Vegas’s entertainment offerings.
Community Involvement
Beyond his real estate ventures, Rick Caruso is deeply involved in community service and philanthropic efforts. He serves as a member of the Los Angeles Coliseum Commission and is active in various community organizations. One such organization is Para Los Niños, which offers education and child development services to neighborhoods in Southern California. Additionally, Caruso is a trustee of the University of Southern California School of Policy, Planning, and Development.
Personal Life
Rick Caruso is married to Tina Caruso, and together they have four children. The Caruso family owns several high-value properties, reflecting Rick’s success in real estate. In February 2008, Rick purchased a 7,000-square-foot oceanfront home in Malibu for $11.3 million, which he listed for sale in February 2021 for $40 million.
Their primary residence, located in Brentwood Park, is more like a private estate, pieced together over 20 years through the acquisition of multiple properties. The main house spans 11,000 square feet and features an extensive front lawn, a large swimming pool, a pond, a tennis court, a gym complex, and a half-court basketball court. This Brentwood estate is estimated to be worth between $60 million and $80 million.
In addition to their Brentwood properties, the Carusos purchased a $6.5 million home in an equestrian neighborhood in 2015 through a blind trust. Their luxurious lifestyle also includes ownership of a 216-foot yacht named Invictus, valued at approximately $100 million. This yacht gained notoriety in 2019 when Lori Loughlin and Mossimo Giannulli’s daughter, Olivia Jade Giannulli, was aboard during the college bribery scandal news break. Rick, serving as the Chairman of USC’s Board of Trustees, found his yacht and family briefly thrust into the media spotlight during this time.
Rick Caruso Political Ambitions
In February 2022, Rick Caruso announced his candidacy for Mayor of Los Angeles. His entry into politics marks a new chapter in his public service journey, aiming to leverage his business acumen and community involvement to address the city’s challenges.
Rick Caruso Net Worth
Rick Caruso net worth is $4 million.
