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Rick Caruso Net Worth 2022: How Much Wealthier is This Businessman Now?

Rick Joseph Caruso is a businessman and millionaire from the United States. He started and runs an American real estate company called Caruso.

Before becoming chair of the board of trustees at the University of Southern California, Caruso was president of the Los Angeles Police Commission and a member of the Board of Water and Power Commissioners.

Caruso used to be a member of the Republican Party, but when he ran for mayor of Los Angeles in 2022, he switched to the Democratic Party.

Early Years of Rick Caruso

Rick Caruso was born in Los Angeles, Calif., on January 7, 1959. Henry, his father, started Dollar Rent-A-Vehicle and ran a number of car lots in Los Angeles.

Rick went to the University of Southern California and got his bachelor’s degree there. He then went to Pepperdine University to get his law degree. Rick worked briefly as a lawyer for developers in the real estate business, but he really wanted to get into the business himself.

What is Rick Caruso’s Net Worth?

An American businessman named Rick Caruso has a net worth of $4 billion as per celebritynetworth.com. Rick Caruso is the man who started Caruso, a company that builds and sells homes (formerly known as Caruso Affiliated). Caruso has built some of the most popular malls in Southern California.

The Grove, the Americana at Brand, the Palisades Village, and the Calabasas Commons are all malls that he owns. Caruso was the youngest commissioner in the history of the Los Angeles Department of Water and Power before he started his own business.

Business Career of Rick Caruso

Caruso worked as a lawyer for real estate in the corporate finance department of Finley Kumble. In 1987, he started Caruso, a company that builds, owns, and runs the real estate.

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He started by buying parking lots that his father was willing to let Dollar Rent-A-Car use. He then sold the lots as their value went up. In 1990, he quit being a lawyer to focus all of his time on building shopping, and living areas.

rick caruso net worth 2022
rick caruso net worth 2022

His projects include The Grove at Farmers Market in Los Angeles, the Americana at Brand in Glendale, the Commons at Calabasas, the Promenade at Westlake, The Lakes at Thousand Oaks (which he leased from the City of Thousand Oaks), 8500 Burton Way (Waterside Marina del Rey), Palisades Village in Pacific Palisades, and the Rosewood Miramar Beach in Santa Barbara.

In 2015 and 2017, an ad for a documentary about the Armenian Genocide was turned down by Caruso’s mall, Americana at Brand in Glendale, California. This was said to be a violation of free speech. There was a lot of anger about Americana’s decision, but Caruso denied the accusations and said he was still committed to treating everyone equally and fairly. Later, Americana changed its mind about running the ad.

Success

In 1987, he set up his own business. He worked on industrial buildings and projects all over California for the next 15 years. The Grove at Farmers Market in Los Angeles and the Americana at Brand in Glendale are two of his best projects from the beginning.

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In Las Vegas, Caruso Affiliated worked with Caesars for more than three years on design, merchandising, leasing, and strategy for Linq.

The Linq is a unique retail and entertainment destination that stretches for a quarter mile and has 178,000 square feet of restaurants, bars, and clubs, 37,000 square feet of retail, and 70,000 square feet of entertainment venues. Caruso Affiliated helped with the project, which turned a back alley on the Strip into a world-class shopping area that was the first of its kind. Caruso will be in charge of operations and day-to-day management in the future.

Caruso is on the Los Angeles Coliseum Commission at the moment. He is also involved in many community groups, such as Para Los Ninos, which is a resource for neighborhoods in Southern California that helps with education and child development. He is also a trustee of the University of Southern California School of Policy, Planning, and Development.

Real Estate

Rick paid $11.3 million in February 2008 for a 7,000-square-foot beach house in Malibu. Rick put this house on the market in February 2021 for $40 million. Here’s a video of how to do it:

The longtime home of the Caruso family is about 20 minutes inland from the Malibu property above. And it’s a bit of both. Over the course of 20 years or more, Rick and Tina bought at least three houses in Brentwood Park and put them together to make one of the most desirable private estates in Los Angeles.

The main house on the Brentwood estate is 11,000 square feet. Their front yard is very big and leads to a big swimming pool and pond. Behind the pond are a tennis court, a gym, and a half-court basketball court.

This Brentwood Park property is very hard to value. It could be worth between $60 and $80 million to the right person. Through a blind trust, they bought a $6.5 million house in an equestrian neighborhood of Brentwood in 2015.

Conclusion

Rick Caruso was born in 1959 in Los Angeles, California. His father, Henry, started Dollar Rent-A-Vehicle and ran a number of car lots. Rick worked briefly as a lawyer for developers in the real estate business. He quit being a lawyer to focus on building shopping malls and living areas. In 1987, he set up his own business, Caruso Affiliated.

He worked on industrial buildings and projects all over California for the next 15 years. In Las Vegas, he helped with the project that turned a back alley on the Strip into a world-class shopping area.

Rick and Tina Caruso have put their Malibu beach house on the market for $40 million. Brentwood Park property could be worth between $60 and $80 million to the right person. Through a blind trust, they bought a $6.5 million house in 2015.

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