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Rick Caruso Net Worth, Biography & Wiki 2017
Rick Joseph Caruso was born in 1959 in Los Angeles, California, USA and is a billionaire businessman widely known as the founder, owner and the Chief Executive Officer of Caruso Affiliated, the company focused on designing, building and developing retail properties.
Have you ever wondered how much wealth this talented businessman has accumulated so far? How rich Rick Caruso is? According to sources, it is estimated that Rick Caruso’s net worth as of early 2016, is $3.5 billion including Delta Marine Invictus, a 65 meter-long super luxury yacht. Yes, you read it well – three and a half billion!
Rick Caruso Net Worth $3.5 Billion
Rick Caruso was raised in LA, one of three children of Gloria and Henry Caruso, a businessman and the founder of Dollar Rent A Car. Apart from American, Rick has also some Italian ancestry. Rick’s brother, Marc Caruso is a music producer, and the CEO and co-founder of Angry Mob Music Group. With a sense for business in his veins and his father as a role model, it is no wonder that Rick Caruso has become a top businessman himself.
Rick enrolled at the University of Southern California in his hometown, from which he graduated in 1980 with bachelor of science degree. He continued his education and in 1983 obtained a doctor of jurisprudence title from Pepperdine University School of Law in Malibu, California. Afterwards, he began his professional career as a real-estate lawyer in the corporate finance department of Finley, Kumble, Wagner, Underberg, Manley, Myerson & Casey, a New York-based law firm. This engagement provided the basis for Rick Caruso’s later enormous net worth.
However, after a couple of years, he resigned from his law career and decided to pursue a real-estate development career. In 1987, Rick Caruso founded Caruso Affiliated, now one of the largest private companies in real estate business in the USA today. With Rick as the CEO, Caruso Affiliated provides real estate development services in shopping entertainment as well as residential destinations, visited by more than 40 million people a year. Company’s properties includes flagship shopping centers such as The Grove at Farmers Market in LA, The Commons at Calabasas, The Promenade at Westlake and The Americana at Brand in Glendale. Successful managing of the company has brought millions to Rick Caruso, and dramatically increased his net worth.
Before sailing into the business field, in 1985, Rick Caruso was named as the commissioner for the Los Angeles Department of Water and Power at the age of 25, making him the youngest person in that position in the history of the town. His strong beliefs in public services and civic responsibilities was recognized, and in 2001 Rick was appointed to the Los Angeles Board of Police Commissioners, and soon after was elected its president. His leadership of the Police Commission in the period between 2002 and 2006, resulted in a significant decrease in the city’s crime rate. Since 2008, Rick Caruso has also been a member of the Los Angeles Coliseum Commission.
Rick Caruso’s passion, vision and personal philanthropic commitment to giving back, as well as his expertise in the real estate area, has led him to lecture on real estate issues at Harvard University, the University of Southern California and the Milken Institute Global Conference. Rick Caruso annually participates as a guest panelist for the International Council of Shopping Centers.
His huge net worth attests to Rick Caruso’s skills, but his hard work has been recognized through numerous awards for his properties including the International Council of Shopping Centers Gold Award in 2009. In 2012, he was named as Developer of the Year by the Los Angeles Business Journal and received the 2012 Ernst & Young LLP Master Entrepreneur Of The Year Award for Greater Los Angeles”.
When it comes to his personal life, Rick Caruso has been married to Tina Caruso with whom he has four children, three sons and a daughter; they currently reside in Los Angeles area.
Apart from being a successful businessman, Rick Caruso is also a philanthropist and compassionate member of the community, heavily involved in numerous community organizations and charities, including Para Los Niños, St. John’s Health Center Foundation, The California Medical Center and The National Institute of Transplantation. He has also contributed to the University of California with a donation of $25 million.