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Rick Caruso Net Worth: How Did He Achieve A Net Worth of $4Million?

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Rick Caruso, an American businessman who is worth a billion dollars, is running for mayor of Los Angeles in November 2022. He started and is the CEO of Caruso, one of the biggest privately owned real estate companies in the United States.

Early Life of Rick Caruso

He was born on January 7, 1959, in Los Angeles, California. Henry, his father, started Dollar Rent-A-Car and owned many car lots in Los Angeles.

rick caruso net worth

Rick went to college and got a bachelor’s degree from the University of Southern California. He then went to Pepperdine University and got a degree in law. Rick worked for a short time as a real estate lawyer for developers, but he was getting more and more interested in getting into the business himself.

Personal Life of Rick Caruso

Rick Caruso and his wife, Tina, have been blessed with four children.

Real Estate of Rick Caruso

Rick paid $11.3 million for a 7,000-square-foot home with an ocean view in Malibu in February 2008. Rick put this house on the market for $40 million in February 2021.

rick caruso net worth

At the Brentwood estate, the main house is 11,000 square feet. They have a huge front lawn that leads to a big pond and swimming pool. They have a tennis court, a gym, and a half-court basketball court behind the pond. It is very hard to put a price on this Brentwood Park estate. For the right buyer, it could be worth $60–$80 million. In 2015, they used a blind trust to buy a $6.5 million house in an equestrian neighborhood in another part of Brentwood.

Net Worth of Rick Caruso

An American businessman named Rick Caruso has a net worth of $4 billion. 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.

Also Read: Mauricio Umansky’s Net Worth: How Did He Build His Income?

Successful Career of Rick Caruso

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.

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.

rick caruso net worth

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 School of Policy, Planning, and Development at the University of Southern California.

Yacht 

The Caruso family owns a yacht called Invictus. It is 216 feet long. The value of their yacht is about $100 million. Lori Loughlin and Mossimo Giannulli were arrested in 2019 as part of the college bribery scandal. When the news came out, their daughter Olivia Jade Giannulli was on the ship Invictus. Rick is the Chairman of USC‘s Board of Trustees, and Olivia’s parents were accused of paying $500,000 in bribes to get their two daughters into USC as fake crew recruits. This must have been awkward.

Final Words

Rick Caruso is running for mayor of Los Angeles in 2022. He started and is the CEO of one of the biggest real estate companies in the U.S. His father, Henry, started Dollar Rent-A-Car and owned many car lots in Los Angeles. Rick Caruso was the youngest commissioner in the history of the L.A. Department of Water and Power.

He has built some of the most popular malls in Southern California. The Linq is a retail and entertainment destination that stretches for a quarter mile.

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