Rick Joseph Caruso (born January 7, 1959) is an American billionaire businessman and philanthropist. He is the founder and chief executive officer of Caruso Affiliated, an American real-estate company. He has been president of the Los Angeles Police Commission and a member of the Board of Water and Power Commissioners.
Early life and education
Caruso received a bachelor of science degree from the University of Southern California in 1980, where he was a member of the Sigma Alpha Epsilon fraternity, and a law degree from the Pepperdine University School of Law in 1983 as a Margaret Martin Block Scholar. In 1995, he was recognized as the Alumnus of the Year by Pepperdine School of Law.
Caruso was a real-estate lawyer in the corporate finance department at Finley Kumble, but in 1990, he quit law to develop retail and residential properties full-time. In 1987, he founded Caruso Affiliated, a company that develops, owns and manages properties such as The Grove at Farmers Market in Los Angeles, the Americana at Brand in Glendale, the Commons at Calabasas, the Promenade at Westlake, 8500 Burton Way and the Waterside Marina Del Rey.
He has lectured on real estate issues at the Kennedy School of Public Administration at Harvard University, the USC Sol Price School of Public Policy and the Milken Institute Global Conference. Caruso participates annually as a guest panelist for the International Council of Shopping Centers.