Rick Caruso (Rick Joseph Caruso) was born on 7th January 1959 in Los Angeles to Henry Caruso and Gloria Caruso. His father was the founder of Dollar Rent-A-Car and owner of many car dealerships in the Los Angeles area and her mother, in her youth was a billboard model.
In 1980, he was a member of the Sigma Alpha Epsilon fraternity at the University of South Carolina from where he received a Bachelor’s degree in Science. As a Margaret Martin Block Scholar, he received a degree from the Trojan Knights and a J.D. from the Pepperdine University School of Law in 1983. Pepperdine School of Law recognized him as the Alumnus of the Year in 1995. His nationality is American.
Rick is an American billionaire businessman, founder and chief executive officer (CEO) of Caruso which is an American real estate company. He is currently serving as chair of the board of trustees at the University of Southern California. He has also served as the president of the Los Angeles Police Commission and also an operating member of the Board of Water and Power Commissioners. He was earlier a member of the Republican Party but changed his Party to Democratic after becoming a candidate for the Los Angeles mayoral election in the year 2022.
Rick Caruso -Age
Rick Joseph Caruso is 63 years old now according to his birth date (7th January 1959).
Caruso’s Personal Life
Rick Caruso is married to Tina Caruso. They have four children named Alex, Gregory, Justin, and Gianna respectively. They live in the affluent Brentwood section of Los Angeles. Their children have attended South Carolina University, the same university that his father had attended and had donated millions of dollars to.
With the help of trust, he paid $4.4 for a million mansion in Pacific Palisades for his son Justin. Caruso is a devoted Catholic.
- Career in business
In the corporate finance department, Caruso worked as a real estate lawyer at Finley Kumble. A company was founded by him in 1987 that develops, owns and manages properties. He sold Rent-A-Car after the price of parking lots increased, which he had purchased after his father agreed to lease for dollars. For the development of his retail and residential properties full-time he quit the law in 1990.
He had various projects and the projects including The Grove at Farmers Market in Los Angeles, the Americana at Brand in Glendale, the Commons at Calabasas, the Promenade at Westlake, The Lakes at Thousands Oaks (leased from the City of Thousand Oaks), 8500 Burton Way (Waterside Marina del Rey), Palisades Village in Pacific Palisades, and the Rosewood Miramar Beach in Santa Barbara.
He has lectured on real estate issues at the Kennedy School of Public Administration at Harvard University, the USC Price School of Public Policy and the Milken Institute Global Conference. Caruso participates yearly as a guest panellist for the International Council of Shopping Centers.
Caruso was named “Developer of the Year” by the Los Angeles Business Journal and its 2012 Ernst & Young LLP Master Entrepreneur of the Year.
- Political Career
Mayor Tom Bradley named Caruso to serve as a commissioner for the Los Angeles Department of Water and Power in 1985. He became the youngest commissioner in the history of the city. In August 2001, Mayor James K. Hahn appointed him as the Police Commissioner of the Los Angeles Board and he became president of that Board. In this role, he led the selection process which led to the hiring of former New York City Police Commissioner William Bratton as the Chief of Police of Los Angeles.
He served as the president of The police commissioner of Los Angeles from 2002 to 2006 and during his tenure, the crime rate in Los Angeles dropped by 37.3%. The Crime rate decreased less than expected during his 5-year tenure than in the previous 5 years or the following 5 years after he left his post.
Caruso was elected to serve as a member of the Los Angeles Coliseum Commission in 2008 which governs the operations of the Los Angeles Memorial Coliseum and nearby Los Angeles Memorial Sports Arena. In 2009 and 2013, Caruso drifted the idea of running for the mayor of Los Angeles but he didn’t run for the election.
In 2019, he put forth his views on running in the 2022 election. He made this public when he was chosen to help the White House in easing America’s future recovery from the disease during the Covid-19 pandemic. He gave multiple interviews during this time on giving importance to small businesses during the recovery.
On 11th February 2022, he launched his campaign for the election of 2020. it was launched the day before the filing deadline.
Caruso got an endorsement from one of the world’s greatest businessman
Elon Musk, CEO of Tesla Motors and a prospective twitter buyer is supporting billionaire real estate developer Rick Caruso for the mayor of Los Angeles. Musk’s SpaceX is headquartered in Hawthorne, located in LA’s South Bay. This was a rare political endorsement ever by the world’s richest man.
Elon Musk tweeted on Friday that he was supporting Caruso in the contest to succeed Mayor Eric Garcetti. Caruso and Musk are the two wealthiest individuals in the world, according to calculations by Forbes Caruso’s $4.3 billion investment in a shopping centre in South Carolina made him the 655th wealthiest person in the world, while Musk’s $220.9 billion fortune far outpaces anyone else’s.
A dozen candidates are competing in the race for Mayor held on 7th June. Caruso and US Representative Karen Bass are leading in the polls. If no candidate gets more than 50%, the two top vote-getters will face off each other in November.
The 63-year-old Caruso, who was a long-time Republican party candidate who switched to the democratic party is one of three leading candidates in the Los Angeles mayoral race.
Musk is the latest big renowned name to support Caruso: Billionaire reality star Kim Kardashian, actress Gwyneth Paltrow and rapper Snoop Dogg all endorsed Caruso in May.
Elon Musk’s Tweet expressing his endorsement of Caruso
Elon Musk expressed his support of Caruso via a tweet that read, “It is rare for me to endorse political candidates. My political leanings are moderate, so neither fully Republican nor Democrat, which I am confident is the case for most Americans. Executive competence is super underrated in politics – we should care about that a lot more!”
Elon musk twitted the city “is fortunate to have someone like Rick Caruso running for mayor,” explaining the real estate mogul is “awesome.”
He can be grateful to Democrats. Musk tweeted “Thanks Mr. President” Friday after NASA picked SpaceX to land the next American on the moon.
Caruso expressed his gratitude for the endorsement via tweet
“Elon, thank you for your support,” Caruso tweeted. “L.A. is the greatest city in the world. I would be honoured to be her next mayor and serve the city that I love.”