LOS ANGELES — Rick Caruso, the billionaire developer whose searing criticism of the region’s wildfire response has catapulted him to national prominence, announced on Monday the launch of a new nonprofit to accelerate rebuilding after the region’s devastating wildfires.
Steadfast LA: A High-Powered Brain Trust for Recovery
Caruso, a one-time mayoral hopeful, described the effort, dubbed Steadfast LA, as a high-powered brain trust for local, state, and federal governments as it undertakes the massive task of recovery after last month’s devastating series of wildfires. The group that includes Netflix CEO Ted Sarandos would propose solutions to the myriad obstacles to rebuilding — and plans to publicly call out the government if its response is not moving swiftly enough.
“I do have a bit of a bully pulpit that I can use,” he said in an interview. “So we want to work alongside them, support them, but if the agencies aren’t doing the right things or getting the job done, we’re going to hold them accountable publicly. That’s not a threat. It’s just that there’s so much pain and devastation going on here, urgency is really critically important.”
Private-Sector Engagement and Heavy-Hitters Backing the Initiative
Caruso said the effort is a response to the “little” movement he’s seen on the ground since the fires devastated the Palisades and Altadena neighborhoods nearly one month ago. He said private-sector engagement was key — and the roll-out includes the backing of some of the city’s heavy-hitters in business, including Sarandos and his wife Nicole Avant, former U.S. Ambassador to the Bahamas, as well as Carey Smith, president of Parsons, a multinational infrastructure engineering firm.
With Caruso as its chair, the initiative is laden with political intrigue, given his no-holds-barred rebukes alleging the government — and especially his former rival, Mayor Karen Bass — has mishandled the wildfires and their aftermath. His increased post-fire profile has stoked speculation that he could be mulling a mayoral rematch in 2026 or potentially eyeing a gubernatorial bid.
Personal Commitment to Nonpolitical Service
But the former Republican-turned-Democrat said the public should not view this announcement as a political Trojan Horse, but rather a reflection of someone personally affected by the destruction in the tony Palisades neighborhood.
“They should see somebody…who lost homes in the area, who has a daughter that lost her home, a son that lost his home, and wants to serve and help solve a problem for so many people that don’t have as many options as we have,” he said.
“This isn’t about politics at all,” he added. “It’s not even on my radar at this point.”
Collaborative Efforts Amid a Crowded Landscape
The new group enters a crowded ecosystem dedicated to fire response. There already exists a complicated patchwork of local governments and independent agencies, as well as philanthropies such as LA Rises, a new venture announced by Gov. Gavin Newsom last week that will be led by Magic Johnson, Dodgers chairperson Mark Walter and Casey Wasserman, president of the LA28 Olympic organizing committee.
“Mayor Bass is bringing the public, private, philanthropic and non-profit sectors together to execute a monumental recovery for the Palisades. We welcome everyone’s help in this effort.” said Zach Seidl, spokesperson for the mayor.
A Wall Street Journal story last week hinted at the possible collisions ahead with the city’s own rebuilding efforts. Steven Soboroff, a fellow real estate developer tapped by Bass to lead Los Angeles’ recovery, sounded less than enthralled with a parallel rebuilding effort steered by Caruso.
“I’ve talked to Rick, and all I want from Rick is, if I need him, to make a call for me, or do something like that,” Soboroff told the paper. “Or, if he thinks I’m screwing up, to let me know, period. That’s it.”
Caruso said he left a message for Bass Monday morning to inform her of the new group and said he saw “no reason” why there couldn’t be collaboration between his group and the city.
“Everybody should want what’s in the best interest of these residents, period, and that’s going to be what we’re shooting for, and I’m sure that’s what the mayor is shooting for,” he said. “So we’ll work hard to make sure we’re very supportive. But again, at the same time, if things aren’t being done, we’re going to bring attention to it.”
Operational Leadership and Funding Commitment
Bass’ office did not immediately comment.
The day-to-day efforts of the group will be led by executive director Najla Kayyem, a commercial real estate marketing executive. Caruso said he would be funding its operations, which he said would cost “in the millions.”
Its first task: whittling down a list of 40 or so initiatives to a prioritized plan of five to 10 that they can then begin working on with assorted government or agencies. Caruso said that priority list will be released within two weeks.
