The Billionaire Behind LA's Most Iconic Shopping Destination | Forbes

Rick Caruso won't tell you that traditional retail is dying because he doesn't believe it. The creator of The Grove, LA's famous shopping and dining destination, discussed the state of retail in America and why he is one of few developers still betting big on the malls of the future.
Forbes Portraits is a weekly series that profiles the billionaires, leaders and innovators using entrepreneurial capitalism to change the world.
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Пікірлер: 174

  • @winandgrow8792
    @winandgrow87925 жыл бұрын

    I've never seen a more billionaire looking billionaire

  • @DrAdnan

    @DrAdnan

    5 жыл бұрын

    Win And Grow he fits the role well

  • @cohenfromdiscord2551

    @cohenfromdiscord2551

    5 жыл бұрын

    True. But you can tell the by the way he talks about his field and describes it, personifies real-estate that he actually does enjoy his craft. Very much like an artist.

  • @winandgrow8792

    @winandgrow8792

    5 жыл бұрын

    agree

  • @Law19157

    @Law19157

    5 жыл бұрын

    lol

  • @0113Naruto

    @0113Naruto

    5 жыл бұрын

    @sbtopjosh the ones we usually see are the ones that made it through software or techonolgy. So most of the time they are humble

  • @Camxlare
    @Camxlare5 жыл бұрын

    Forbes stepped up with the production, my mans had a lil swag to him

  • @tomthetoaster8004
    @tomthetoaster80045 жыл бұрын

    pfftt this guy just walks around like he owns the place...

  • @arvindagarwal9881

    @arvindagarwal9881

    3 жыл бұрын

    Papa Musk,he actually owns it!

  • @tomthetoaster8004

    @tomthetoaster8004

    3 жыл бұрын

    @@arvindagarwal9881 r/whoosh

  • @edwingomez9308

    @edwingomez9308

    3 жыл бұрын

    ...😆😆

  • @foodscrazy9229

    @foodscrazy9229

    2 жыл бұрын

    Just watch cnbn make it ,the men who make this video persuade this guy to do so, that's how these types of phenomenon works

  • @VidaCreative
    @VidaCreative5 жыл бұрын

    "We're in the business of Hospitality... you have to be meaningful to somebody" - Rick Caruso

  • @ilovephotography1254

    @ilovephotography1254

    Жыл бұрын

    "We're in the business of Hospitality...you have to meaningful to somebody" - Rick Caruso ...For the common folks, No, not at all! Caruso's Pacific Palisades development is an exclusive mall that has shops and residential living that caters exclusively to the $uper Rich. Yes Caruso's development can be meaningful, but in a very Negative Way. Adjacent landlords have been motivated into raising the rents, killing off the smaller business in town. Before Palisades use to be a Mayberry like town, now it's more like a slice of Beverly Hills. Other consequences are parking issues in residential neighborhoods are now common and a heavy increase of traffic for a small town.

  • @Grozdor
    @Grozdor5 жыл бұрын

    What a classy gentleman.

  • @muchlovematt7744
    @muchlovematt77445 жыл бұрын

    Funny seeing this because he's right. I always go to the grove just to hang out and enjoy the atmosphere.

  • @NoName-ss8pm

    @NoName-ss8pm

    4 жыл бұрын

    That's exactly what's it's called having the "Entrepreneurial Vision".

  • @abhinavkolli8720
    @abhinavkolli87205 жыл бұрын

    1:06 that girl petting the dog tho

  • @davidmitchell5638

    @davidmitchell5638

    5 жыл бұрын

    Yeah so cute! I had to rewind.

  • @mcgil8891

    @mcgil8891

    5 жыл бұрын

    Abhinav Kolli ikr

  • @leepakim

    @leepakim

    5 жыл бұрын

    yeah that was cute and the dog didnt mind

  • @salimalesperance4620

    @salimalesperance4620

    5 жыл бұрын

    Was not expecting that

  • @greyjohnson4578

    @greyjohnson4578

    5 жыл бұрын

    I know she is young and at that age it is hard to keep a child from petting a random dog before asking but I wonder if her parent/s ever spoke to her about not doing that.

  • @jamalmog1367
    @jamalmog13675 жыл бұрын

    This guy knows his stuff

  • @patandbrandi
    @patandbrandi5 жыл бұрын

    Open air properties are usually in places that have decent weather year round and thus are more affluent / touristy. Like the grove

  • @Mondayzz
    @Mondayzz Жыл бұрын

    He gets my vote.

  • @sadtoy1193
    @sadtoy11935 жыл бұрын

    The background music makes the interview more interesting, in my opinion.

  • @camilogomezkeep2324
    @camilogomezkeep23245 жыл бұрын

    totally agree on indoor malls, they are depressing.

  • @savedfaves

    @savedfaves

    2 жыл бұрын

    I don't know why I found that funny 😂

  • @wmurray003
    @wmurray0035 жыл бұрын

    He understands real estate development.

  • @ajjoshi
    @ajjoshi3 жыл бұрын

    The Grove is one of my favourite places in LA... I used to walk there often to pick up my morning juice etc

  • @lessons2ball
    @lessons2ball5 жыл бұрын

    Creating a beautiful, fun experience. TRUTH

  • @michaelangileo2760
    @michaelangileo27603 жыл бұрын

    God bless you, Rick !!! Best wishes always. MA

  • @MaxineAGGuess
    @MaxineAGGuess5 жыл бұрын

    Informative. Thank you. Great video!

  • @pamelakilgore4459
    @pamelakilgore44595 жыл бұрын

    You speak well Mr Caruso

  • @savedfaves

    @savedfaves

    2 жыл бұрын

    Doesn't he sound like actor and narrator Peter Coyote?

  • @tonynyc7709
    @tonynyc77095 жыл бұрын

    Impressive knowledge, great accomplishments, God bless always.

  • @fahad-m62
    @fahad-m625 жыл бұрын

    Very well said.

  • @kml.
    @kml.5 жыл бұрын

    Awesome.

  • @uminhtetoo
    @uminhtetoo5 жыл бұрын

    Congratulations!🎈🎉🍾🎊 Your POV is right at some extent.

  • @michaels4895
    @michaels48952 жыл бұрын

    legend!

  • @chris_panda
    @chris_panda Жыл бұрын

    I really love going to The Grove! ❤

  • @harold7903
    @harold79035 жыл бұрын

    You know what....I go to LA for winter holiday every year from jakarta Indonesia just want to to go to the Grove...LOVE IT..

  • @goat7844
    @goat78445 жыл бұрын

    Indoors malls are good. Depending on where you live. Everybody don’t live in Southern California. Think about places where’s cold,hot, or rain a lot.

  • @convenience9078
    @convenience90785 жыл бұрын

    Wow!

  • @eyblender5896
    @eyblender58964 жыл бұрын

    Respect!!!

  • @kaluledaniel7373
    @kaluledaniel73735 жыл бұрын

    1:08 the small things that show humanity always exists

  • @britb90
    @britb905 жыл бұрын

    that dog probably eats caviar lol

  • @tiktokdj606
    @tiktokdj606 Жыл бұрын

    Such a great guy!

  • @chavanne3
    @chavanne35 жыл бұрын

    Sears could learn from this guy

  • @penguinlittlefeet8463

    @penguinlittlefeet8463

    5 жыл бұрын

    CC too late 🤣

  • @SSKMusicBeats

    @SSKMusicBeats

    5 жыл бұрын

    Too late loool

  • @wmurray003

    @wmurray003

    5 жыл бұрын

    Too late.

  • @dvazquezgto

    @dvazquezgto

    5 жыл бұрын

    Toys R Us could have learn from this guy #keepitgoing

  • @crystalcandy1000

    @crystalcandy1000

    5 жыл бұрын

    😂

  • @DeepakSharma-xx8hu
    @DeepakSharma-xx8hu5 жыл бұрын

    Living the Dream

  • @bryans1000
    @bryans10005 жыл бұрын

    Like a Boss!

  • @fzs164
    @fzs1645 жыл бұрын

    Caruso brilliant guy!

  • @stoopidvideo
    @stoopidvideo5 жыл бұрын

    He's absolutely right

  • @MickyAvStickyHands
    @MickyAvStickyHands5 жыл бұрын

    That Halo Top stand at the end is a great idea. Low guilt snacks at the mall will crush it. That should be a concept that many can run with.

  • @someguy604
    @someguy6045 жыл бұрын

    He probably has his own dog walking business too.

  • @avayu2289
    @avayu22895 жыл бұрын

    Rick Caruso is cool!

  • @smokesters318
    @smokesters3185 жыл бұрын

    Just saw him at the grove 😅

  • @ryancriss3486
    @ryancriss34865 жыл бұрын

    Very smart man

  • @mc8885
    @mc88855 жыл бұрын

    BOSS!

  • @salvationwothin
    @salvationwothin5 жыл бұрын

    My G.

  • @dafamilyarthouse-films
    @dafamilyarthouse-films5 жыл бұрын

    This, and the Americana in Glendale look the same.

  • @Craptalker
    @Craptalker4 жыл бұрын

    I hang out at the grove

  • @davidchacon139
    @davidchacon1395 жыл бұрын

    what a boss

  • @eleffeemeilio7082
    @eleffeemeilio70825 жыл бұрын

    Word

  • @NewOrbit180
    @NewOrbit1805 жыл бұрын

    Acho que me deixaram em paz

  • @patkeeler6645
    @patkeeler66455 жыл бұрын

    nice man. I prefer to go to the store to shop in person. although some tell me of good prices on line. I prefer to go out.

  • @lorenzmuller3542
    @lorenzmuller35422 жыл бұрын

    I just disagree with one statement: It doesn't have to be outdoor.

  • @steven-vj6lc
    @steven-vj6lc Жыл бұрын

    top g

  • @SolutionsSolved
    @SolutionsSolved5 жыл бұрын

    Open air property won't work in Minnesota have fun with that idea anywhere cold

  • @Law19157
    @Law191575 жыл бұрын

    It's about the shopping experience. The malls I visited in Australia were really nice & in the East Bay Northern California the Great Mall in Milpitas is one of the nicer ones I've been to, there's one other one in San Jose but I forget the name. The San Francisco Premium Outlet in Livermore Ca is super nice I like that one a lot. Southland Mall in Hayward Ca sucks, it's really dated they need to put a glass roof and some trees, plants & waterfalls in there to make it inviting. I prefer to go to a shop and pick up an item I want because I don't like waiting 2 or more days for an order I placed online but sometimes when the store is really ugly and ghetto and nicer places are too far I just buy on Amazon.

  • @lauralarrabee7870

    @lauralarrabee7870

    Жыл бұрын

    Santana Row was featured in the movie “in love with a church girl.” I used to live Walnut Creek and they did have a fabulous outdoor mall. Rick has a great eye for imagining and delivering these outdoor spaces.

  • @leepakim
    @leepakim5 жыл бұрын

    if it rains I like to go to an indoor mall and shop there.

  • @tw3638

    @tw3638

    5 жыл бұрын

    But it's in California

  • @woodolphlorfils4299
    @woodolphlorfils42995 жыл бұрын

    👏🏾👏🏾

  • @savedfaves

    @savedfaves

    2 жыл бұрын

    👋🏻

  • @johancesar1963
    @johancesar19635 жыл бұрын

    Goals 00:07

  • @merf64

    @merf64

    5 жыл бұрын

    Your goal is to drink out of a water bottle?

  • @wmurray003
    @wmurray0035 жыл бұрын

    "Check my swagger out ::PutsShadesOn:;" -Caruso

  • @foodscrazy9229
    @foodscrazy92292 жыл бұрын

    Indeed online shopping malls will fail because ordinary people mostly walk and enjoy time when they are shopping offline if these places don't exist most of them were depressed or obese

  • @patandbrandi
    @patandbrandi5 жыл бұрын

    ...if it's so good why dont people have shopping bags... I think I counted 2 people. Now restaurants that's really what's driving traffic. No hard feeling the man is a icon.

  • @papagen00
    @papagen00 Жыл бұрын

    Personally I prefer indoor malls especially with the worsening climate change I like walk the mall in the summer in air-conditioned comfort.

  • @AlejandroHernandez-ls7io
    @AlejandroHernandez-ls7io5 жыл бұрын

    did anybody see tsm daquan in the vid? go to 1:44 to check it out

  • @CherryBlossomskt
    @CherryBlossomskt5 жыл бұрын

    Indoor malls protects you from the elements. It can be too hot or too cold. You just can't escape that from and outdoor mall unless you plan on staying in one store for hours. I don't want my makeup running in the Heat or having to wear a thick jacket. Other than that even make some great points, great video!

  • @gregpitts5157
    @gregpitts51575 жыл бұрын

    Maybe, I should lease a spot for my business.

  • @Steven-bh3jl
    @Steven-bh3jl5 жыл бұрын

    'always loved real estate, loved it since I was a kid, its in my blood' how much more cliche can you get

  • @anotherbyteinc
    @anotherbyteinc5 жыл бұрын

    but wait, this isnt rodeo drive

  • @TheBossEntrepreneur
    @TheBossEntrepreneur3 жыл бұрын

    How is your good retail business now performing against online ?

  • @Saeglopur89
    @Saeglopur895 жыл бұрын

    This idea is just what streets in European cities are for :) Sure, these around old marketsquares etc.

  • @2011blueman

    @2011blueman

    5 жыл бұрын

    Works great in temperate climates, which are few and far between in the US.

  • @ahrlj24

    @ahrlj24

    5 жыл бұрын

    west europe mostly have oceanic climate which is found in oregon and washington but southern europe has mediterranean climate which is found in california

  • @yeon723
    @yeon7235 жыл бұрын

    Whoa, billionaires walk the street?

  • @JB-so5gr
    @JB-so5gr5 жыл бұрын

    I'd say Rodeo is much more iconic, no?...

  • @SoulEternalPeaceWarrior77

    @SoulEternalPeaceWarrior77

    5 жыл бұрын

    Very true I agree, but I like The Grove a lot better. Way more inviting & friendly than Rodeo.

  • @realinvestordata1580

    @realinvestordata1580

    5 жыл бұрын

    More people would rather be at The Grove or The Americana than Rodeo Drive...

  • @JB-so5gr

    @JB-so5gr

    5 жыл бұрын

    I agree with both of you. I was just pointing out that Rodeo is much more "Iconic" I've always loved Rodeo, I still walk down it in awe (comes from dreaming of shopping there when I was a child) I wish they would pedestrianize the whole street though, stopping the man-children from revving their rented Lamborghini's. I also think Palisades village will be the nicest of all (Haven't got the chance to visit yet, have only seen pictures/videos)

  • @MilesCraftFTW

    @MilesCraftFTW

    5 жыл бұрын

    Rodeo is a street. The Grove is a mall.

  • @JB-so5gr

    @JB-so5gr

    5 жыл бұрын

    @@MilesCraftFTW - The title says "Shopping destination" Out of the two, Rodeo is much more "Iconic" Ask a group of people from another country what The Grove is and most, if not all won't have a clue what you're talking about. Ask the same group of people what Rodeo Drive is and most, if not all will know exactly what it is.

  • @KaziDepartment
    @KaziDepartment4 жыл бұрын

    0:57

  • @Shibilin
    @Shibilin5 жыл бұрын

    The real bozz looks

  • @thesrtsuperb8e627
    @thesrtsuperb8e6275 жыл бұрын

    Been to the Grove myself a couple years back, pretty overrated if you ask me, not much difference between the grove and any other high end semi-outdoor shopping mall but kudos to this dude for making bank off it

  • @J_T_B
    @J_T_B5 жыл бұрын

    so how much bribing was involved to get this place done?

  • @Shave-ice
    @Shave-ice5 жыл бұрын

    idk why but I can tell he has the look of "he's got money" idk if its something with skin eyes and overall face. it doesn't look stressed or depressed and not too much tension. I guess have a lot of money is stress-free. or maybe they put makeup on him as newscast do lol.

  • @amadeogamboa7457
    @amadeogamboa7457 Жыл бұрын

    Is that really LA's most iconic shopping destination?

  • @dfair
    @dfair2 жыл бұрын

    LA's Next Mayor?

  • @TrashBulldogProductions

    @TrashBulldogProductions

    2 жыл бұрын

    One can only hope.

  • @hamedismaeal1288

    @hamedismaeal1288

    Жыл бұрын

    🤣🤣🤣

  • @papagen00
    @papagen00 Жыл бұрын

    But can Caruso sing opera?

  • @elhebreo4975
    @elhebreo49753 жыл бұрын

    He has the aura of a mafia boss 😂

  • @savedfaves

    @savedfaves

    2 жыл бұрын

    I know nothing of him but kissing a dog on the head is fine by me.

  • @amanapart.
    @amanapart.5 жыл бұрын

    That Italian accent and the suit makes him look like he is running a mob.

  • @NoName-ss8pm

    @NoName-ss8pm

    4 жыл бұрын

    That's how you are supposed look when you're running this kind of business.

  • @adiabi8972
    @adiabi89725 жыл бұрын

    Meanwhile I'm here bragging about being 5th 😂😂

  • @DrAdnan
    @DrAdnan5 жыл бұрын

    How do I become a billionaire?

  • @cohenfromdiscord2551

    @cohenfromdiscord2551

    5 жыл бұрын

    become a millionaire ...? Then double up a few times?

  • @Posimistic

    @Posimistic

    5 жыл бұрын

    @@DrAdnan solve a million peoples problem or solve a million dollar problem

  • @DrAdnan

    @DrAdnan

    5 жыл бұрын

    Elvis Del Rio I feel like I’d need capital for that

  • @DrAdnan

    @DrAdnan

    5 жыл бұрын

    john abraham good point

  • @cohenfromdiscord2551

    @cohenfromdiscord2551

    5 жыл бұрын

    hmmm think again ... don't get me wrong "maybe" you should get off KZread ... but KZread has made many millionaires, if not by ad-sense, but mere traffic given to other outlets. You are right... for us to become like the man in this segment we are likely to need large amounts of capital. But in a sense .. that's the beautiful thing about our time ...

  • @CHMichael
    @CHMichael3 жыл бұрын

    Slow motion? Meaningful retail? I dont like him.

  • @savedfaves

    @savedfaves

    2 жыл бұрын

    A better local economy creates jobs and brings down crime. In that sense retail can have meaning.

  • @BrianOTurner
    @BrianOTurner3 жыл бұрын

    This is Jamaican economy 🙁

  • @hungvu2774
    @hungvu27745 жыл бұрын

    cOol

  • @tunjia.3795
    @tunjia.37955 жыл бұрын

    Lady on the right in blue denim at 00:36 👌🏽

  • @tyronewilliams96
    @tyronewilliams965 жыл бұрын

    Gets a little silly with the slow-motion pictures of grandpa walking around wid his dog.

  • @fridaynightlights2971

    @fridaynightlights2971

    5 жыл бұрын

    You're the only one in the comments who thinks that lol. The general opinion is this guy looks like a BOSS.

  • @tyronewilliams96

    @tyronewilliams96

    5 жыл бұрын

    Friday Night Lights Spoken like a true BETA, lol.

  • @LuisMendoza-pp9qi
    @LuisMendoza-pp9qi2 жыл бұрын

    He's got almost a dozen comercial properties that failed, I think he got lucky with this Grove property...and yet he thinks he cured cancer...

  • @peterpuleio578

    @peterpuleio578

    Жыл бұрын

    He is Italian-American

  • @Blackowl44
    @Blackowl445 жыл бұрын

    Notice how nobody really has shopping bags because everything so dam expensive

  • @nocontext5333
    @nocontext53335 жыл бұрын

    everyone in la hates this place. its like walking on a studio back lot, everything seems like a facade. farmers market next door is the true LA. this is just a fluff piece for the developers d

  • @zach6639
    @zach66395 жыл бұрын

    Owns property in LA? Automatically a billionaire

  • @GeneDexterExperience
    @GeneDexterExperience5 жыл бұрын

    It’s a nice place for sure but to become “part of community” - a lot of it had to be torn out.

  • @mcgil8891

    @mcgil8891

    5 жыл бұрын

    Gene Dexter well said

  • @DorianQose
    @DorianQose5 жыл бұрын

    2nd here :)

  • @classicmonty5728
    @classicmonty57283 жыл бұрын

    COVID-19 entered the chat

  • @4Realkevv
    @4Realkevv3 жыл бұрын

    We did our job for you go spend $

  • @savageo1343
    @savageo13433 жыл бұрын

    Must be nice winning the lottery of Life and Consciousness. I'm not against Billionaires. I support their consciousness and their lives but just quit shitting on us Working Folks. Treat us good and we'll make you richer/wealthier.

  • @5150Rockstar
    @5150Rockstar4 жыл бұрын

    Goomba

  • @onemoretime107
    @onemoretime1075 жыл бұрын

    Is he wearing makeup

  • @TabsT-vy5jy
    @TabsT-vy5jy5 жыл бұрын

    Mafia billionaire

  • @sebastianmolina344
    @sebastianmolina3445 жыл бұрын

    I’m actually his son and my billionaire dad beats me 🤕 other than that my dog 🐕 is cool 😎

  • @gundum1o1

    @gundum1o1

    5 жыл бұрын

    r/whooooooshh!???

  • @raneatharva3016

    @raneatharva3016

    3 жыл бұрын

    Stop spreading Rumours ! His name is Caruso and your name is Molina 😂

  • @SummerWinter766
    @SummerWinter7665 жыл бұрын

    who cares

  • @othienoburton5432

    @othienoburton5432

    5 жыл бұрын

    Martin Shkreli hows prison