LA Stories profiles Los Angeles billionaire real estate developer and philanthropist, Rick Caruso.

Renowned for creating inviting community and entertainment centered outdoor retail centers like The Grove and the new Palisades Village, Caruso properties are finding growing success at a time when traditional shopping malls are struggling to survive.

On the grounds of his first hotel development, a new oceanfront resort in Montecito, Caruso talks to Spectrum News 1 Anchor Giselle Fernandez about the personal inspirations that inform his visionary business moves, his values, and civic leadership. As the Chair of the USC Board of Trustees, he reveals to Giselle what’s next for the university currently plagued by numerous headline-making scandals.

Caruso also opens up to Giselle about his mayoral aspirations and how his daughter has been a powerful emotional influence on his philanthropy, which for years, has been changing the lives of hundreds of children in Los Angeles.