Rick Caruso Net Worth: Is He Born In 1959? Rick Caruso is a successful American entrepreneur who currently has a net worth of $4 billion. Caruso, a real estate development business, was started by Rick Caruso, the company’s namesake (formerly known as Caruso Affiliated). Caruso is responsible for the construction of several of the most visited shopping complexes in Southern California. The Grove, the Americana at Brand, Palisades Village, and Calabasas Commons are some of the shopping centers that he owns and operates. Caruso held the record for the youngest commissioner ever appointed to the position at the Los Angeles Department of Water and Power prior to the establishment of his own corporation.
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Rick Caruso’s Early Life
On January 7, 1959, Rick Caruso was born in Los Angeles, California. Henry, his father, founded Dollar Rent-A-Vehicle and owned numerous car dealerships in Los Angeles.
Rick attended the University of Southern California and graduated with a bachelor’s degree. He subsequently received a law degree from Pepperdine University. Rick had a brief career as a real estate attorney for developers, but he had a developing desire to enter the real estate company himself.
Rick Caruso’s Success
He started his own business in 1987. He spent the subsequent fifteen years creating industrial structures and projects throughout the state of California. Los Angeles’s The Grove at Farmers Market and Glendale’s Americana at Brand are two of his first and most prestigious ventures.
Caruso Affiliated worked with Caesars in Las Vegas for more than three years to provide design, merchandising, leasing, and strategy for the Linq, a unique retail and entertainment destination spanning a quarter-mile and containing 178,000 square feet of restaurants, bars, and clubs, 37,000 square feet of retail space, and 70,000 square feet of entertainment venues. Caruso Affiliated advised on the project, which transformed a back alley into a first-of-its-kind, world-class retail attraction on the Strip. Caruso will be responsible for operational oversight and day-to-day management in the future.
Caruso is a current committee member for the Los Angeles Coliseum. He is also involved in numerous community organizations, such as Para Los Ninos, a Southern California community organization that provides education and child development services to areas. In addition, he is a trustee of the School of Policy, Planning, and Development at the University of Southern California.
Rick Caruso’s Personal Life
Rick Caruso and his wife, Tina, have been blessed with four children.
Rick Caruso’s Personal Real Estate
Rick purchased an oceanfront mansion in Malibu that was 7,000 square feet and cost him $11.3 million in February of 2008. In February of 2021, Rick put his home on the market with an asking price of $40 million. Take a look at this video tour:
The Caruso family has lived in their principal residence for many years in a location about twenty minutes inland from the mansion shown above in Malibu. And it’s more of a compound than anything else. Over the course of more than two decades, Rick and Tina have pieced together one of the most enviable private estates in Los Angeles by purchasing at least three houses, all of which are located in the Brentwood Park neighborhood.
The primary residence on the Brentwood estate encompasses 11,000 square feet of space. They have an enormous front yard that leads to a pond and swimming pool that are both rather sizable. Beyond the pond, they have a basketball court with a half-court, a tennis court, and a fitness center complex.
The valuation of this Brentwood Park estate is extremely challenging. For the right buyer, it might be valued at anything between $60 and $80 million.
They used a blind trust to acquire a property in an equestrian neighborhood that was listed for $6.5 million in 2015 and were located in a different part of Brentwood.
Rick Caruso’s Yacht
The Caruso family is the proud owner of a yacht called Invictus, which measures 216 feet in length. It is reported that their yacht is worth one hundred million dollars. When the news emerged in 2019 that Lori Loughlin and Mossimo Giannulli had been arrested in connection with the college bribery case, Olivia Jade Giannulli, the couple’s daughter, was actually sailing on Invictus at the time. This must have been embarrassing for Rick, given that he is the actual Chairman of the Board of Trustees at USC, and Olivia’s parents were being accused of paying $500,000 in bribes to get their two daughters into USC ask phony crew recruits. Rick is the literal Chairman of the Board of Trustees at USC.
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