Rick Caruso Launches Nonprofit Aimed at Expediting L.A. Fire Rebuilds

With nearly 30 dead, thousands of structures destroyed and cost estimates rising well above 11 figures, the effort to rebuild the areas of Los Angeles County affected by the recent Palisades and Eaton fires is both a daunting and monumental task. Enter billionaire developer and civic leader Rick Caruso.

The real estate mogul and former L.A. mayoral candidate has formed a new nonprofit organization with a coalition of private sector partners, with the goal of expediting and strengthening the rebuilding process. Dubbed Steadfast LA, the organization plans to collaborate with federal, state and local governments to cut through administrative red tape, submit policy proposals and advocate for actions that lead to measurable results on the ground, according to a spokesperson for the nonprofit. 

Najla Kayyem, president of Kayyem Marketing and executive vice president of Pacific Retail Capital Partners, will serve as executive director of Steadfast LA, while Caruso will serve as the nonprofit’s chairman.

“Rebuilding these communities and getting people back in their homes isn’t just our responsibility — it’s our job, and we’re rolling up our sleeves to make it happen, full stop,” Caruso said in a statement. “This isn’t about meetings and paperwork. It’s about getting our hands dirty, breaking through obstacles, and physically rebuilding — brick by brick, street by street. Public and private collaboration at an unprecedented scale is what it’s going to take.”

The organization will focus on five pillars of the rehabilitation effort: building stronger and more resilient infrastructure systems; speedy rebuilding and restoration of homes and businesses; supporting the thousands of families displaced by the fires; establishing clear lines of communication and collaboration with the public; and designing and implementing long-term safeguards to protect against future disasters.

To those ends, an alliance of business executives, brokers, attorneys and civic leaders has joined Steadfast LA to provide expertise, influence and resources. They include Nicole Avant, former U.S. ambassador to the Bahamas; Andy Cohen, global co-chair of Gensler; Jack Dangermond, president of Esri; Olivier de Givenchy, west region head of J.P. Morgan Private Bank; Greg Econn, president of Venbrook Insurance Services; Kobie Fuller, general partner of Upfront Ventures; Mike Hopkins, head of Prime Video and Amazon MGM Studios; Lew Horne, president for advisory services at CBRE (CBRE); Jason Keller, managing director and head of residential investments for Oaktree Capital Management; Joe Lonsdale, managing partner for 8VC and co-founder of Palantir Technologies; Adam Mendelsohn, founder and CEO of Upland Workshop; George J. Mihlsten, counsel at law firm Latham & Watkins; Harry Robinson, senior partner at McKinsey & Company; Ted Sarandos, co-CEO of Netflix (NFLX); Carey Smith, chair, president and CEO of Parsons; and Corinne Verdery, CEO of Caruso. 

“With the government providing the tools and the private sector bringing urgency, expertise and hard work, we can cut through red tape, lay foundations, and make sure these communities don’t just come back, but come back stronger,” Caruso added in a statement. “This is more than a project — it’s a mission to prove that real leadership means results, not just promises.”

Aside from running a close mayoral campaign as a Democrat in 2022, Caruso has held a myriad of civic positions in L.A. since the mid-1980s. He previously served in the early 2000s as president of the L.A. Police Commission, and has served as a member of the L.A. Board of Water and Power Commissioners and as a member of the L.A. Coliseum Commission.

Caruso, when asked, has toyed with renewing his mayoral bid once current Mayor Karen Bass is up for re-election in mid-2026, though has stopped short of publicly committing to a new campaign. When asked last week on the “Making Sense With Sam Harris” podcast if he planned to run for the mayor or governor’s office again, Caruso neither confirmed nor denied. 

“I don’t know … I would love to serve,” Caruso told host Sam Harris. “I know I would work hard, I think I could do a good job, I would certainly do my best. But I just got to get around the idea of going through [the campaign] again.”\

Nick Trombola can be reached at ntrombola@commercailobserver.com.