Rick Caruso

$5.92 B

Ranked #672 in World

About Rick Caruso

Distinguished American entrepreneur and philanthropist Rick Caruso, born January 7, 1959, in Los Angeles, is a prominent figure in real estate development. The son of Dollar Rent-A-Car's founder, Caruso crafted a robust career, including launching his company, Caruso, in 1987, and developing signature properties like The Grove. A USC and Pepperdine University alumnus, he lost the 2022 Los Angeles mayoral race to Karen Bass. Caruso's significant philanthropic contributions support children's healthcare and education, alongside substantial donations to his alma maters.

Born

January 07, 1959 in Los Angeles, California, U.S.

Age

67 years

Source Of Wealth

Real Estate

Industries

Real Estate

Citizenship

United States

Residence

Los Angeles, California

Education

Doctor of Jurisprudence, Pepperdine University; Bachelor of Arts/Science, University of Southern California

Spouse

Tina Caruso

Children

4, including Gigi and Justin

Parent

Henry Caruso (father), Gloria Caruso (mother)

Rick Caruso, an American businessman, and philanthropist, was born on January 7, 1959, in Los Angeles, California. Of Italian American descent, his father, Henry Caruso, founded the renowned Dollar Rent-A-Car company. His mother, Gloria, was a billboard model. Caruso's early life was shaped by his family's entrepreneurial spirit and strong work ethic.

Caruso pursued higher education, earning a Bachelor of Science degree from the University of Southern California (USC) in 1980. He then went on to obtain a Juris Doctor (J.D.) from Pepperdine University School of Law in 1983, demonstrating his commitment to both business and law.

Rick Caruso: Family

Rick Caruso is married to Tina Caruso, and together they have four children: Alex, Gregory, Justin, and Gianna. The Caruso family resides in Brentwood, Los Angeles. All of their children attended USC, where Caruso has made significant philanthropic contributions.

Caruso's family is deeply rooted in the Los Angeles community, and they are known for their commitment to philanthropy and civic engagement.

Rick Caruso: Career Highlights

Caruso's career is marked by notable achievements in real estate development and public service. In 1987, he founded Caruso, a real estate development company that has transformed the urban landscape of Los Angeles.

Some of Caruso's most prominent developments include The Grove at Farmers Market, Americana at Brand, and Palisades Village. These projects have revitalized neighborhoods, created vibrant public spaces, and contributed to the city's economic growth.

In addition to his real estate endeavors, Caruso has also served in various public roles. He was appointed as a commissioner for the Los Angeles Department of Water and Power at the young age of 26. He later served on the Los Angeles Board of Police Commissioners and was elected its president.

Caruso played a pivotal role in selecting former New York City Police Commissioner William Bratton as the Los Angeles Chief of Police. He has also advocated for reforms in the Los Angeles Coliseum Commission, demonstrating his commitment to improving the city's infrastructure and public services.

Rick Caruso: Companies

Caruso is the founder and CEO of Caruso, a prominent real estate development company based in Los Angeles.

Established in 1987, Caruso has developed several iconic properties that have transformed the city's urban landscape.

Some of Caruso's notable developments include The Grove at Farmers Market, Americana at Brand, and Palisades Village. These projects have not only revitalized neighborhoods but have also become popular destinations for shopping, dining, and entertainment.

Rick Caruso: Major Achievements

Caruso's major achievements include his successful real estate developments, which have significantly contributed to the revitalization of Los Angeles. The Grove at Farmers Market, Americana at Brand, and Palisades Village stand as testaments to his vision and expertise in urban planning.

In addition, Caruso's public service has had a positive impact on the city. His leadership in the Los Angeles Department of Water and Power, the Los Angeles Board of Police Commissioners, and the Los Angeles Coliseum Commission has demonstrated his commitment to improving the city's infrastructure and public safety.

Rick Caruso: Awards & Achievements

Caruso's contributions to business and public service have been widely recognized. He was honored as Alumnus of the Year by Pepperdine School of Law in 1995. The Los Angeles Business Journal named him "Developer of the Year," and he received the Ernst & Young LLP Master Entrepreneur of the Year award in 2012.

These accolades reflect Caruso's exceptional leadership, innovation, and dedication to his community.

Rick Caruso: Personal Life & Legacy

Caruso is a devout Catholic and actively involved in philanthropic endeavors. He established the Caruso Family Foundation, which focuses on children's healthcare and education. Caruso has made significant donations to various educational institutions, including USC, Pepperdine, Loyola High School, and Brentwood School.

His commitment to education is further exemplified by the creation of the Caruso Loan Forgiveness Fund for low-income law students. Caruso's generosity has also extended to Pepperdine School of Law, where he contributed $50 million, leading to its renaming in his honor.

At USC, Caruso endowed the Tina and Rick Caruso Department of Otolaryngology – Head and Neck Surgery, as well as the Caruso Catholic Center and Our Savior Parish Church.

These contributions reflect his deep commitment to his alma mater and his desire to make a lasting impact on the community.

Rick Caruso: Trivia

Here are some interesting facts about Rick Caruso:

Caruso's father, Henry Caruso, founded Dollar Rent-A-Car with just $500.
Caruso's mother, Gloria, was a billboard model for companies like Coca-Cola and Maybelline.
Caruso was a member of the Sigma Alpha Epsilon fraternity at USC.
He is a licensed attorney but has never practiced law.
Caruso is an avid sports fan and owns a minority stake in the Los Angeles Lakers.
He is a supporter of the Republican Party but has also made donations to Democratic candidates.
Caruso is known for his philanthropy and has donated millions of dollars to various charitable organizations.

Wealth History

Timeline

January 7, 1959

Rick Caruso is born in Los Angeles, California.

1980

Earns a Bachelor of Science degree from the University of Southern California (USC).

1983

Obtains a J.D. from Pepperdine University School of Law.

1987

Founds Caruso, a real estate development company.

1995

Named Alumnus of the Year by Pepperdine School of Law.

2009

Considers running for mayor of Los Angeles but decides against it.

2012

Named Ernst & Young LLP Master Entrepreneur of the Year.

2013

Again considers running for mayor of Los Angeles but decides against it.

2022

Announces his candidacy for mayor of Los Angeles.

June 7, 2022

Finishes second in the primary election, facing Karen Bass in a runoff.

November 8, 2022

Loses the mayoral runoff election to Karen Bass.

Rick Caruso : FAQs

What is Rick Caruso's current net worth?

Rick Caruso's current net worth is $5.92 billion.

What is Rick Caruso's current global rank among billionaires?

Rick Caruso holds the 672nd position globally among billionaires.

What is Rick Caruso's current ranking within the United States?

Rick Caruso holds the 253rd position in United States.

What was the change in Rick Caruso's net worth compared to the previous year?

Rick Caruso's net worth decreased by 0 million dollars compared to the previous year 2025, when his net worth was 5.92 billion dollars.

What are Rick Caruso's main sources of wealth?

Rick Caruso's main source of income comes from Real Estate.

In which industry does Rick Caruso primarily operate?

Rick Caruso is primarily involved in the Real Estate industry.

What is Rick Caruso educational background?

Rick Caruso holds a Doctor of Jurisprudence from Pepperdine University and a Bachelor of Arts/Science from the University of Southern California.

How old is Rick Caruso?

Rick Caruso is 67 years old.

How many children does Rick Caruso have?

Rick Caruso has 4 children.

Who is Rick Caruso and what is he known for in the business world?

Rick Caruso is an American businessman and philanthropist known for founding the real estate development company Caruso in 1987, which developed properties like The Grove at Farmers Market and Americana at Brand. He's also recognized for his influence on Los Angeles' urban landscape and his significant philanthropic contributions.

What steps did Rick Caruso take in his education before starting his successful business career?

Rick Caruso earned a Bachelor of Science degree from the University of Southern California in 1980 and went on to obtain a J.D. from Pepperdine University School of Law in 1983, laying the educational foundation for his career in real estate development.

How did Rick Caruso engage in public service and what impact did he have on Los Angeles policing?

Rick Caruso served as a commissioner for the Los Angeles Department of Water and Power at age 26, was appointed to the Los Angeles Board of Police Commissioners, and was elected as its president. He played a pivotal role in the selection of William Bratton as Los Angeles Chief of Police and advocated for reforms in the Los Angeles Coliseum Commission.

What led to Rick Caruso's participation in the 2022 Los Angeles Mayoral Race and what was the outcome?

After considering a mayoral run in 2009 and 2013, Rick Caruso announced his candidacy for the Los Angeles Mayoral Race in 2022, where he spent over $41 million on his campaign. He finished second in the primary election but ultimately lost to Karen Bass in the runoff.

Can you outline Rick Caruso's contributions to the fields of healthcare, education, and religion through his philanthropy?

Rick Caruso's philanthropic efforts have been extensive, establishing the Caruso Family Foundation focusing on children's healthcare and education, donating to institutions like USC and Pepperdine, and creating the Caruso Loan Forgiveness Fund for law students. He has also endowed the USC Tina and Rick Caruso Department of Otolaryngology and the Caruso Catholic Center, reflecting his commitment to health, education, and religion.