The Billionaire Behind LA's Most Iconic Shopping Destination | Forbes
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- čas přidán 11. 06. 2024
- 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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I've never seen a more billionaire looking billionaire
Win And Grow he fits the role well
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.
agree
lol
@sbtopjosh the ones we usually see are the ones that made it through software or techonolgy. So most of the time they are humble
Forbes stepped up with the production, my mans had a lil swag to him
pfftt this guy just walks around like he owns the place...
Papa Musk,he actually owns it!
@@arvindagarwal9881 r/whoosh
...😆😆
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
"We're in the business of Hospitality... you have to be meaningful to somebody" - Rick Caruso
"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.
What a classy gentleman.
Funny seeing this because he's right. I always go to the grove just to hang out and enjoy the atmosphere.
That's exactly what's it's called having the "Entrepreneurial Vision".
1:06 that girl petting the dog tho
Yeah so cute! I had to rewind.
Abhinav Kolli ikr
yeah that was cute and the dog didnt mind
Was not expecting that
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.
This guy knows his stuff
Open air properties are usually in places that have decent weather year round and thus are more affluent / touristy. Like the grove
He gets my vote.
The background music makes the interview more interesting, in my opinion.
totally agree on indoor malls, they are depressing.
I don't know why I found that funny 😂
He understands real estate development.
The Grove is one of my favourite places in LA... I used to walk there often to pick up my morning juice etc
Creating a beautiful, fun experience. TRUTH
God bless you, Rick !!!
Best wishes always.
MA
Informative. Thank you. Great video!
You speak well Mr Caruso
Doesn't he sound like actor and narrator Peter Coyote?
Impressive knowledge, great accomplishments, God bless always.
Very well said.
Awesome.
Congratulations!🎈🎉🍾🎊 Your POV is right at some extent.
legend!
I really love going to The Grove! ❤
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.
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..
Wow!
1:08 the small things that show humanity always exists
Respect!!!
that dog probably eats caviar lol
Sears could learn from this guy
CC too late 🤣
Too late loool
Too late.
Toys R Us could have learn from this guy #keepitgoing
😂
Such a great guy!
Living the Dream
Like a Boss!
Caruso brilliant guy!
He's absolutely right
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.
He probably has his own dog walking business too.
Rick Caruso is cool!
Just saw him at the grove 😅
Very smart man
BOSS!
My G.
This, and the Americana in Glendale look the same.
I hang out at the grove
what a boss
Word
Acho que me deixaram em paz
I just disagree with one statement: It doesn't have to be outdoor.
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.
top g
Open air property won't work in Minnesota have fun with that idea anywhere cold
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.
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.
if it rains I like to go to an indoor mall and shop there.
But it's in California
Goals 00:07
Your goal is to drink out of a water bottle?
👏🏾👏🏾
👋🏻
"Check my swagger out ::PutsShadesOn:;" -Caruso
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
...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.
Personally I prefer indoor malls especially with the worsening climate change I like walk the mall in the summer in air-conditioned comfort.
did anybody see tsm daquan in the vid? go to 1:44 to check it out
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!
Maybe, I should lease a spot for my business.
'always loved real estate, loved it since I was a kid, its in my blood' how much more cliche can you get
but wait, this isnt rodeo drive
How is your good retail business now performing against online ?
This idea is just what streets in European cities are for :) Sure, these around old marketsquares etc.
Works great in temperate climates, which are few and far between in the US.
west europe mostly have oceanic climate which is found in oregon and washington but southern europe has mediterranean climate which is found in california
Whoa, billionaires walk the street?
I'd say Rodeo is much more iconic, no?...
Very true I agree, but I like The Grove a lot better. Way more inviting & friendly than Rodeo.
More people would rather be at The Grove or The Americana than Rodeo Drive...
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)
Rodeo is a street. The Grove is a mall.
@@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.
0:57
The real bozz looks
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
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.
so how much bribing was involved to get this place done?
Is that really LA's most iconic shopping destination?
LA's Next Mayor?
One can only hope.
🤣🤣🤣
But can Caruso sing opera?
That Italian accent and the suit makes him look like he is running a mob.
That's how you are supposed look when you're running this kind of business.
He has the aura of a mafia boss 😂
I know nothing of him but kissing a dog on the head is fine by me.
Meanwhile I'm here bragging about being 5th 😂😂
How do I become a billionaire?
become a millionaire ...? Then double up a few times?
@@DrAdnan solve a million peoples problem or solve a million dollar problem
Elvis Del Rio I feel like I’d need capital for that
john abraham good point
hmmm think again ... don't get me wrong "maybe" you should get off CZcams ... but CZcams 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 ...
Slow motion? Meaningful retail? I dont like him.
A better local economy creates jobs and brings down crime. In that sense retail can have meaning.
This is Jamaican economy 🙁
cOol
Lady on the right in blue denim at 00:36 👌🏽
Gets a little silly with the slow-motion pictures of grandpa walking around wid his dog.
You're the only one in the comments who thinks that lol. The general opinion is this guy looks like a BOSS.
Friday Night Lights Spoken like a true BETA, lol.
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...
He is Italian-American
Notice how nobody really has shopping bags because everything so dam expensive
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
Owns property in LA? Automatically a billionaire
It’s a nice place for sure but to become “part of community” - a lot of it had to be torn out.
Gene Dexter well said
2nd here :)
COVID-19 entered the chat
We did our job for you go spend $
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.
Goomba
Is he wearing makeup
Mafia billionaire
I’m actually his son and my billionaire dad beats me 🤕 other than that my dog 🐕 is cool 😎
r/whooooooshh!???
Stop spreading Rumours ! His name is Caruso and your name is Molina 😂
who cares
Martin Shkreli hows prison