Early Life and Education
Rick Caruso was born in Los Angeles on January 7, 1959. His father, Henry Caruso, founded Dollar Rent-A-Car. Rick earned a Bachelor of Science degree from the University of Southern California in 1980 and a Juris Doctor from Pepperdine University School of Law in 1983.
Rise to Success
Caruso began his career as a real estate lawyer before founding Caruso Affiliated Holdings in 1987. His company developed several iconic properties, including The Grove in Los Angeles and The Americana at Brand in Glendale, setting new standards for retail experiences. These properties have consistently outperformed traditional shopping destinations in terms of sales per square foot.
Key Business Strategies
Caruso's business strategy has focused on creating unique, community-centric destinations that blend retail, dining, entertainment, and residential spaces. This approach has led to high foot traffic and strong financial performance for his properties. His projects often incorporate meticulously designed landscapes, architectural details, and public spaces, aiming to enhance the overall customer experience.
Philanthropy
Caruso is actively involved in philanthropy through the Caruso Family Foundation, which supports organizations improving the lives of children in need of healthcare and education. He has made significant donations to educational institutions, including USC, where he served as chair of the board of trustees, and Pepperdine University School of Law, which was renamed in his honor. In January 2025, he launched a new foundation to aid with rebuilding efforts after the Los Angeles wildfires, pledging millions of dollars towards the effort.
