Billionaire Caruso Starts Nonprofit for LA Fire Rebuilding

Billionaire developer Rick Caruso, a vocal critic of Los Angeles leadership during last month’s wildfires, announced he’ll lead a nonprofit aimed at accelerating private-sector involvement in the area’s massive rebuilding effort.

Known as Steadfast LA, the organization has enlisted leaders from such companies as Netflix Inc., Amazon.com Inc., JPMorgan Chase & Co. and CBRE Group Inc. to speed up the restoration of communities. The group includes experts in areas including design, financing, technology and real estate development.