Billionaire developer Rick Caruso has launched a new nonprofit, Steadfast LA, to accelerate the rebuilding and recovery of communities impacted by recent wildfires in Los Angeles.
Developer Rick Caruso announced the launch of a new nonprofit organization on Monday dedicated to accelerating the rebuilding and recovery process for communities devastated by recent wildfires in Los Angeles . The initiative, known as Steadfast LA, aims to bridge the gap between public and private sectors to expedite recovery efforts in Pacific Palisades, Malibu, Altadena, and other fire-impacted areas.
Caruso emphasized the urgent need for collective action, stating, 'We need to rebuild our communities. Government cannot do this alone and this is not a time for politics. We need access to the best ideas, resources, and people to build back better and stronger than before. We’re launching Steadfast LA today to make sure the rebuild has the full power of all of us and we’re getting the best possible solutions implemented faster.'Caruso, who ran a high-profile campaign for Los Angeles mayor in 2022, has been vocal about his concerns regarding the city's wildfire preparedness. He has criticized budget cuts to the Los Angeles Fire Department and highlighted critical shortcomings, including depleted water reservoirs and inadequate firefighting infrastructure. As chairman of Steadfast LA, Caruso outlined five key pillars guiding the foundation's work: infrastructure, rebuilding, community, communication, and resilience. Najla Kayyem, a commercial real estate marketing executive with prior experience working for Caruso, will serve as the foundation's executive director. Steadfast LA boasts a distinguished board of directors, including Kobie Fuller, general partner for Upfront Ventures; Mike Hopkins, head of Prime Video and Amazon MGM Studios; Netflix CEO Ted Sarandos and his wife, former Ambassador Nicole Avant; Andy Cohen, co-chair of Gensler; as well as executives from prominent banking, insurance, real estate, and private equity firms. Caruso has pledged to solely fund the foundation, ensuring that none of the companies or executives receive any compensation. Potential outside donors will be connected with schools, churches, or other organizations in need, according to reports. Kayyem will initially operate out of Caruso's offices at the Grove shopping complex and subsequently relocate to an office in the Palisades. The foundation may also establish another office in Altadena, located at the Americana, a shopping and apartment complex in Glendale owned by Caruso. Caruso and his family personally experienced the devastating effects of the Palisades Fire, losing three homes – two in the Palisades and one in Malibu
Disaster Relief Community Development Rick Caruso Steadfast LA Wildfires Los Angeles Nonprofit Recovery Rebuilding Community Development
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