Who is Rick Caruso?
Caruso is an American billionaire. He is the founder of the real estate company Caruso Affiliated Holdings. He was born in January 1959. He is married to Tina, they have 4 children (Greg, Justin, Gianna, and Alex Caruso)
He is chairman of the University of Southern California Board of Trustees. He was President of the Los Angeles Police Commission. In 1985 he was named to serve as a commissioner for the Los Angeles Department of Water and Power.
He is an alumnus of the Pepperdine School of Law, a professional law school in Malibu, California.
Caruso Affiliated Holdings
Caruso is one of the largest privately-owned real estate companies in the US. The company was founded by Caruso in 1987.
Rick started as a real estate lawyer. But soon turned into real estate development. He was one of the first to develop mixed-use destinations. A mixed-use destination means retail and residential purposes in one complex.
Caruso’s flagship property is The Grove. It was ranked #2 on Fortune’s list of the 10 highest sales-generating shopping centers in the country. The Grove retail center receives more visitors per day than Disneyland. It offers an outdoor shopping experience.
His Palisades Village in Pacific Palisades (Southern California) is home to over 40 boutiques, entertainment, and fresh-food experiences.
And his Americana at Brand is a large shopping, dining, entertainment, and residential complex in Glendale, California.
Dollar Rent a Car
Rick’s father Henry Caruso founded Dollar Rent a Car in 1966. Dollar Rent a Car was (and still is) a successful car rental company. Dollar Rent a Car was sold in 1990 to Chrysler. For approx. US$ 80 million. His father died in 2017 at the age of 95.
Rick’s brother Marc Caruso is a Los Angeles music executive and CEO of Angry Mob Music. Angry Mob is a diversified music company with successful operations in publishing, music rights management, and trailer music production. Marc a is member of the Academy of Television Arts & Sciences, The Recording Academy, The Motion Picture Editors Guild, The Society of Composers & Lyricists.
Rick Caruso Net Worth
His net worth is estimated at US$ 4 billion.
The billionaire developer and his family are active philanthropists. Through the Caruso Family Foundation. The foundation supports education and health care for at-risk children and their families.
They also support Para Los Niños. Which provides high quality, early education services to children in Los Angeles.
And is a member of the board of Operation Progress. The organization’s mission is to empower under-served youth to become educated, ethical, and productive adults.