The 50 Wealthiest Angelenos: 24. Rick Caruso

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THE MONEY: Developer of Grove and Americana at Brand saw robust growth of ultra-Class A retail portfolio. Beverly Hills luxury apartment project now entirely occupied, as well as most retail properties. Portfolio carries little debt.

BUZZ: Work to expand Southern California high-end retail empire continues. Still in escrow to purchase 10 retail parcels in Pacific Palisades, meeting with community members to crystalize plans. Similar development status for 150 acres in Carlsbad, where he opened an office to do local work. Shopping center adjacent to Beverly Center lost 50,000-square-foot department store tenant Loehmann’s to bankruptcy. Across street, ultralux apartment project with anchor tenant Trader Joe’s 100 percent leased. Recently approved for 186-room hotel in Montecito; hopes to break ground next year. Last year received True Blue award from Los Angeles Police Foundation. Graduate of USC and Pepperdine sits on boards of both schools. Also sits on board for 2015 Special Olympics World Summer Games Organizing Committee. Married with four kids.

NET WORTH:

$3 billion s20%

LAST YEAR: $2.5 billion

AGE: 55

RESIDENCE: West Los Angeles

SOURCE OF WEALTH: Retail development

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