Rick Caruso: Why Billionaire Rick Caruso Gives His Personal Cell to Strangers and Neighbors E177

In this episode of In Search of Excellence, Randall Kaplan sits down with Rick Caruso, the billionaire real estate developer and former Los Angeles Mayoral candidate who revolutionized the retail industry. From the iconic Grove to the Rosewood Miramar Beach, Caruso’s properties attract more visitors annually than Disneyland. But his journey wasn't a straight line to success. Rick opens up about his father’s legal troubles and prison time, the power of resilience, and why he believes "shit work" is essential for young entrepreneurs. We also dive deep into his controversial but effective views on solving homelessness in Los Angeles and the specific business strategies that allow his properties to outperform the national average by 3x. Timestamps: 00:00 - Intro: Why doesn't a billionaire solve homelessness? 01:42 - Rick’s family roots & the rubber band on his money clip 03:59 - Dealing with his father’s legal trouble and prison sentence 07:23 - The "Dollar Rent A Car" comeback story 10:49 - Rick’s plan to fix the homeless crisis in LA 14:40 - Why you need to do the "shit work" to succeed 17:37 - Is college necessary today? (USC & Marshall School) 22:34 - Rick’s first real estate deal: The Midvale Duplex 24:05 - The "Parking Lot Strategy" and 100% financing 31:43 - The vision behind The Grove & the famous trolley 35:39 - The art of Cold Calling & Networking 38:17 - Why Caruso properties earn 3x the national average 41:34 - Building the Rosewood Miramar Beach & defying NIMBYs Make sure to LIKE, COMMENT, and

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Rick Caruso: Why Billionaire Rick Caruso Gives His Personal Cell to Strangers and Neighbors E177 is an episode from In Search Of Excellence by Randall Kaplan.

This episode is 44:55 long.

This episode was published on Dec 10, 2025.

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