A Conversation with Rick J. Caruso

Recognized as a leading business innovator, dedicated civic leader, and philanthropist, Rick J. Caruso is the Founder and Executive Chairman of Caruso Affiliated, one of the largest and most admired privately held real estate companies in the U.S., whose portfolio of properties attracts tens of millions of guests each year. Under Caruso’s leadership, the company has achieved a compounded annual growth rate of nearly 20% since its inception.

Caruso started his career as a real estate lawyer before founding Caruso Affiliated Holdings in 1987. He redefined retail in Los Angeles by creating imaginative, community-focused destinations. At the heart of Caruso’s award-winning development approach is a deep respect and understanding of civic responsibility and a fierce loyalty to surrounding communities— the result of decades of hands-on experience in public service.

His civic service includes serving as L.A.’s Commissioner for the Department of Water and Power and President of the L.A. Police Commission, where he helped reduce crime to historic lows. In 1991, he and his wife Tina founded the Caruso Family Foundation, supporting at-risk children. Among the many nonprofit organizations that he supports, Caruso is actively involved with Operation Progress, Para Los Niños, St. Lawrence of Brindisi School and Verbum Dei High School, all focused on the historically underserved area of Watts, Los Angeles.

A major philanthropist, he endowed Pepperdine’s Caruso School of Law and USC’s Caruso Department of Otolaryngology. He has received numerous accolades, including “Retail Mastermind” by The Wall Street Journal and honors from Pope Francis. Recently, he was named by Town and Country magazine as one of the top 50 philanthropists in the nation.

As USC’s Board Chair, he led governance reforms, hiring the university’s first female president and overhauling the athletics program. Caruso served as the Chair of the Board of Loyola High School, and is on the Boards for St. John’s Hospital, and the Ronald Regan Presidential Library Foundation.

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