⬅ # 540 Mahendra Choksi|# 542 Murat Ülker ➡

# 541 Rick Caruso 

$5.51B

Real Time Net Worth
as of 7/2/2024
$431 (0.00%)

# 541 Rick Caruso 

$5.51B

Real Time Net Worth
as of 7/2/2024
$431 (0.00%)
OccupationFounder, Caruso
Source of WealthReal Estate
Age65
ResidenceLos Angeles, California
Marital StatusMarried
Children4
EducationJD, Pepperdine University; BS, University of Southern California
Age-Adjusted Net Worth$3.93B
Rick Caruso
Rick Caruso
United States
Net worth: $5.51B

Self-Made Score 

Wealth History

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Biography

Early and Personal Life

Rick Joseph Caruso was born on January 7, 1959, in Los Angeles, California, to Italian immigrant grandparents.
He earned a Bachelor of Science degree from the University of Southern California in 1980 and a J.D. from Pepperdine University School of Law in 1983.
Caruso is married to Tina Caruso, and they have four children: Alex, Gregory, Justin, and Gianna.
He resides in the affluent Brentwood neighborhood of Los Angeles.
Caruso is a devout Catholic.

Career

Real Estate Development
In 1987, Caruso founded Caruso, a real estate company focusing on development, ownership, and management.
His notable projects include The Grove at Farmers Market, Americana at Brand, Palisades Village, and Promenade at Westlake.
Caruso initiated a voter initiative to build an outdoor mall in Carlsbad, California, spending $12 million in the process.
He has faced criticism for his company's rejection of an advertisement regarding the Armenian Genocide at Americana at Brand.
Caruso has been accused of influencing Los Angeles city officials through significant financial contributions.

Public Service
Caruso served as the president of the Los Angeles Police Commission and a member of the Board of Water and Power Commissioners.
He was named Commissioner for the Los Angeles Department of Water and Power at age 26, becoming the youngest in the city's history.
Caruso was involved in the selection process that hired William Bratton as the Chief of Police for Los Angeles.
He advocated for reforms on the Los Angeles Coliseum Commission, including banning rave parties at venues.
Caruso ran for mayor of Los Angeles in 2022 but lost to Karen Bass in the runoff election.

Philanthropy
Caruso established the Caruso Family Foundation, focusing on children's healthcare and education.
He and his wife founded the Caruso Loan Forgiveness Fund to support low-income law school students.
Caruso donated $50 million to Pepperdine School of Law, resulting in its renaming in his honor.
He contributed $25 million to endow and name the USC Tina and Rick Caruso Department of Otolaryngology – Head and Neck Surgery.
Caruso endowed the Caruso Catholic Center and Our Savior Parish Church at USC with a $9 million donation.

Company Overview

Caruso Affiliated Holdings, LLC
Founded by Rick Caruso in 1987, Caruso Affiliated Holdings, LLC, is a major privately held real estate company.
The company, with Corinne Verdery as CEO since 2022, specializes in retail and mixed-use properties in Southern California.
Caruso's portfolio includes shopping centers, entertainment complexes, and residential developments.
Properties like The Grove at Farmers Market and Americana at Brand draw millions of visitors annually.
Caruso properties have received numerous awards for design and development excellence.

How long would it take you to become as rich as Rick Caruso?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Rick Caruso's net worth of $5.51B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Rick Caruso is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Rick Caruso, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey