Caruso is an American businessman who is worth $3.5 billion as of 2022, according to Forbes magazine. Rick Caruso is the founder of Caruso, a real estate development company (previously known as Caruso Affiliated) based in New Jersey. Caruso has been involved in the development of some of Southern California’s most popular shopping centers. The Grove, the Americana at Brand, the Palisades Village, and the Calabasas Commons are just a few of his shopping centers. Caruso served as the youngest commissioner in the history of the Los Angeles Department of Water and Power prior to establishing his own company in 2001.
Rick Caruso Net Worth 2022
|Net Worth:||$3.5 Billion(2022)|
|Nationality:||United States of America|
Rick Caruso Early Life
Rick Caruso was born on January 7, 1959, in the city of Los Angeles, California. His father, Henry, was the founder of Dollar Rent-A-Car and the owner of a number of automobile dealerships in Los Angeles.
Rick earned a bachelor’s degree from the University of Southern California, where he was a member of the football team. After that, he went on to receive his law degree from Pepperdine University. Rick had a brief career as a real estate lawyer, primarily representing developers, but he was becoming increasingly interested in getting into the real estate business for his own benefit.
Rick Caruso Success
In 1987, he established his own business. The next 15 years were dedicated to the development of industrial buildings and projects throughout California. For example, The Grove at Farmers Market in Los Angeles and The Americana at Brand in Glendale are two of his most notable early projects.
As part of the Linq project in Las Vegas, Caruso Affiliated worked with Caesars for more than three years on design, merchandising, leasing, and strategy. The Linq, a unique retail and entertainment destination that stretches for a quarter-mile and consists of 178,000 square feet of restaurants, bars, and clubs, 37,000 square feet of retail space, and 70,000 square feet of entertainment venues, is one of the largest projects Caruso Affiliated has completed. It was Caruso Affiliated who provided consulting services for the project, which transformed a back alley into a one-of-a-kind, world-class retail destination on the Las Vegas Strip. Caruso will continue to oversee operations and manage the day-to-day operations in the coming months.
Caruso is currently serving as a commissioner on the Los Angeles Coliseum Commission. Many community organizations, such as Para Los Ninos, which is a community resource that offers education and child development services to neighborhoods in the Southern California area, are also a part of his professional life as well. Aside from that, he serves on the board of directors for the University of Southern California School of Policy, Planning, and Development.
Rick Caruso Personal Life
Rick Caruso and his wife Tina Caruso are the parents of four children.
Rick Caruso House And Properties
An oceanfront home in Malibu, California, was purchased by Rick for $11.3 million in February of that year. Rick planned to sell this home for $40 million when it went on the market in February of 2021.
The Caruso family has lived in their Malibu home for many years as their primary residence. And it’s more of a collection of buildings. In Brentwood Park, Rick and Tina have amassed at least three properties over the course of more than two decades, resulting in one of the most enviable private estates in the entire Los Angeles area.
The main house on the Brentwood estate has a total floor area of 11,000 square feet. The house has a large front lawn that connects to a large swimming pool and pond on the property. There is a tennis court, a gym complex, and a half-court basketball court located beyond the pond.
It is extremely difficult to determine the value of this Brentwood Park estate. If the right buyer comes along, it could be worth $60-80 million.
In 2015, they acquired a $6.5 million home in an equestrian neighborhood in Brentwood through a blind trust, which they put to good use.
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Rick Caruso Yacht
The Caruso family owns a yacht named Invictus, which measures 216 feet in length. Their yacht is estimated to be worth $100 million dollars. Earlier this year, when Lori Loughlin and Mossimo Giannulli were arrested as part of the college bribery scandal, Olivia Jade Giannulli was actually aboard the USS Invictus when the news of their arrest broke. Because Rick is the literal Chairman of the University of Southern California (USC) Board of Trustees and Olivia’s parents were accused of paying $500,000 in bribes to get their two daughters into USC ask phony crew recruits, this had to have been awkward for everyone involved.