Rick Caruso, a prominent figure in the retail and real estate industries, began his career in an unconventional way. Born and raised in Los Angeles, California, Caruso didn’t initially pursue a path in business. Instead, he served in the U.S. Army and later earned a law degree from the University of Southern California. However, his entrepreneurial spirit led him to abandon law and dive into the world of retail.

Caruso’s foray into the business world started with a small, family-owned bakery in the 1980s. He saw an opportunity to expand the business and turned it into a successful chain of bakeries. From there, he ventured into the retail sector, opening the first Caruso Affiliated shopping center in 1994. This marked the beginning of his rise to fame in the retail and real estate industries.

Rick Caruso’s Current Net Worth (2025)

As of 2025, Rick Caruso’s net worth is estimated to be around $4.5 billion, according to Forbes. This significant wealth is a testament to his successful career in real estate and business.

Career

Rick Caruso, a prominent American businessman, is known for his career in real estate development. He founded Caruso Affiliated in 1987, a company that specializes in developing and managing retail, commercial, and residential properties. Some of his notable projects include The Grove, a high-end retail complex in Los Angeles, and the Americana at Brand, a mixed-use development in Glendale, California.

Other Ventures

While Rick Caruso is primarily known for his work in real estate, he has also ventured into other areas. He served as the Chairman of the Los Angeles Memorial Coliseum Commission from 2006 to 2015, playing a key role in the renovation of the historic venue. Additionally, he is involved in various philanthropic efforts, including supporting education and healthcare initiatives in the Los Angeles area.

Assets

Rick Caruso’s assets are primarily tied to his real estate holdings. These include various retail and commercial properties throughout California, such as The Grove and the Americana at Brand. He also owns several residential properties, including a mansion in the Brentwood neighborhood of Los Angeles. Additionally, he has a significant stake in Caruso Affiliated, the company he founded.

Annual Income

The exact figure of Rick Caruso’s annual income is not publicly disclosed. However, given the success of his real estate ventures and the value of his assets, it can be inferred that his annual income is substantial. His company, Caruso Affiliated, generates billions in revenue each year, contributing significantly to his overall wealth.

Frequently Asked Questions about  Rick Caruso

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Rick Caruso Net Worth FAQs

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1. What is Rick Caruso’s net worth?

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Rick Caruso’s net worth is estimated to be around $4.5 billion.

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2. How did Rick Caruso make his fortune?

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Rick Caruso made his fortune through real estate development. He founded Caruso Affiliated in 1987, which has developed and owns numerous high-end retail, entertainment, and mixed-use properties across the United States.

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3. What is Rick Caruso’s company, Caruso Affiliated?

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Caruso Affiliated is a real estate development company founded by Rick Caruso in 1987. It specializes in creating high-end, mixed-use properties that combine retail, dining, entertainment, and residential spaces.

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4. What are some of Rick Caruso’s most notable properties?

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Some of Rick Caruso’s most notable properties include The Grove in Los Angeles, The Americana at Brand in Glendale, California, and The Commons at Calabasas. He also developed the Palisades Village in Pacific Palisades, California.

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5. Is Rick Caruso married? Does he have any children?

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Yes, Rick Caruso is married to Tina Caruso. They have two children together.

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6. What is Rick Caruso’s political affiliation?

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Rick Caruso is a registered Democrat.

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7. Has Rick Caruso run for political office?

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Yes, Rick Caruso ran for Mayor of Los Angeles in the 2022 election but lost to Karen Bass.

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8. What is Rick Caruso’s educational background?

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Rick Caruso graduated from the University of Southern California with a Bachelor of Science degree in Business Administration.

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9. What are some of Rick Caruso’s philanthropic efforts?

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Rick Caruso and his wife, Tina, have been involved in various philanthropic efforts, including supporting education, healthcare, and community development initiatives. They have also established the Caruso Family Foundation, which focuses on improving the lives of children and families in need.

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10. How old is Rick Caruso?

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Rick Caruso was born on October 18, 1959, making him 63 years old.