Pepperdine University Hosts Philanthropist and Civic Leader Rick Caruso and Oklahoma Governor Kevin Stitt for President’s Speaker Series

MALIBU, Calif. – Yesterday, Pepperdine University President Jim Gash welcomed philanthropist and civic leader Rick Caruso and Oklahoma Governor Kevin Stitt for the second installment of the 2024-25 President’s Speaker Series. Caruso and Stitt discussed key election-year issues before an audience of nearly 400 in Smothers Theatre at the University’s campus in Malibu.

Media assets are available here. A recording of the event is available here.

The event began with Gash expressing his vision for the President’s Speaker Series: “At Pepperdine, we talk about things that matter. We talk about big ideas. We ask the big questions. We seek truth together. One of the most valuable ways of seeking truth together is through dialogue.”

He then introduced Caruso and Stitt and noted, “Though they disagree on some very important issues, they are ready and willing to engage together in dialogue, to seek truth together.”

Caruso began by connecting his experience as a business leader to preparation for the public sector. “When you’re in business, you’re rewarded for identifying and taking risks,” he said. “Government officials are really compensated for not taking risks because they’re trying to get re-elected. [But] great decisions are made when you’re taking risks.”

Stitt agreed with Caurso sharing, “It’s so true that bureaucracies are so afraid to make a decision because they’re only criticized for saying yes. We need to have more people from the private sector lead.”

Gash then turned the conversation to economic discussion, citing Gallup and Pew polls reporting that “the economy is the #1 issue for voters this election.”

Stitt addressed the national debt and shared Americans’ economic concerns.

“When you devalue the dollar, you’re devaluing the American dream,” he said. “We have to spend within our revenue [which is] pretty simple in business…The Republicans and Democrats both are spending like drunken sailors in Washington, D.C.”

In response, Caruso noted, “I agree. I think the federal government should have a balanced budget. Leadership has got to have a backbone and explain that deficit spending is dangerous.”

President Gash raised a question about affordable energy and environmental impact.

“Every source of power has some kind of impact on the environment,” Caruso expressed. “I think the right policy on energy is making sure we have an abundant source.” He later added, “I think we should be building more nuclear in this country. It’s a big source and a reliable source of power.”

Stitt mentioned Oklahoma’s abundant oil and coal production alongside the state’s focus on wind power.

“We need more of everything,” he argued. “We believe in all the reusables. We just know we need to have a baseload.”

Caruso then mentioned artificial intelligence’s demand for power and the need for surplus energy to attract top tech companies to each state.

“The demand of power for AI is so immense because of the cooling requirements, data centers, and everything that is generating the tech that all of us are dependent on,” he said. “To your point, we are not ready for that…California can do a better job.”

Mentioning his state’s water shortages and power needs, Caruso suggested, “You could do desalination plants coupled with nuclear and solve two problems at once…Let’s start thinking big. Let’s start thinking out of the box.”

Caruso then reflected on homeless encampments and crime around small businesses in Los Angeles.

“If you’re preventing the customer from going to a business, that business fails. We’ve got to have cities that allow everybody to thrive,” he said. “What is predictable is preventable.”

In regards to Oklahoma’s high incarceration rate and his efforts around justice reform, Stitt shared, “We’ve closed four prisons since I’ve been governor…Oklahoma right now is number two in the country in lowest recidivism rate.”

“We’re all for free speech,” he continued when discussing law enforcement. “If you want to demonstrate and have some type of protest that’s fine, but we’re not going to let you break windows, rummage through buildings, and cause chaos.”

One of the student-submitted questions from Pepperdine’s Switzerland campus was, “How do you think that our faith as individuals should impact who we should vote for?”

“I try to be a very faithful Catholic,” Caruso responded. “I think it’s a very personal decision that you’ve got to make. With me, what matters the most is someone who has a high level of integrity, character, and priorities set.”

He then shared, “A lot of the candidates we see today just look miserable. Is it that bad? If it’s that bad, I really don’t want you being a leader.”

“I don’t shy away from my faith,” said Stitt. “We put God first in our family, and then work and fun. That’s what makes America great. We are a melting pot…To me, it’s about daily values and free markets.”

When asked why both leaders have not yet retired, Caruso said, “I love working. I love going to the office, being with a team, critical thinking, and figuring out how to get a project done. I don’t want that to end.”

“My favorite scripture is seek first the kingdom of God and his righteousness, and all these things will be added to you,” said Stitt in response. “It’s not about making money. It’s about doing what you’re called to do.”

When asked how he would encourage Pepperdine students in their future careers, Stitt advised, “I would find a person in the profession you’re going to. Don’t worry about making money in your 20s. Be around the leaders.”

“I agree with that, Governor,” said Caruso. “I would say go get your job that you’ll make meaningful and at the same time, go to a community that you can give back to. It will change your view of the world and put meaning in your life that will propel you for the rest of your life.”

Closing the event, Gash asked Caruso and Stitt about the importance of freedom, the University’s theme for the academic year.

“Freedom of religion [and] freedom of speech are so core to who we are,” said Stitt. “We can have an honest conversation about what policies look like without being hateful towards one another.”

“To me, it all comes down to education,” responded Caruso. “If you want to keep America free, keep the next generation well-educated and give them access to education.”

About 400 members of the Pepperdine community and friends of the university attended the event in Pepperdine’s Smothers Theatre in Malibu. The event was also live-streamed on the University’s YouTube and X accounts.

Rick J. Caruso is a renowned business innovator, dedicated civic leader, philanthropist, and founder and executive chairman of Caruso®, one of the largest privately held real estate companies in the United States.

As the 28th governor of Oklahoma, Kevin Stitt is leveraging groundbreaking strategies to make Oklahoma a top 10 state in job growth, infrastructure, education, and more.

Pepperdine University’s President's Speaker Series welcomes distinguished scholars and thought leaders representing diverse points of view to examine topics and issues facing our communities and the world today. Driven by a desire to connect deeply with our community and inspire meaningful dialogue in the pursuit of truth, the series provides opportunities to cultivate an engaged and impassioned collective through civil discourse.

About Pepperdine University
Founded in 1937, Pepperdine University is an independent, Christian university located 30 miles west of Downtown Los Angeles in scenic Malibu, California. The University enrolls approximately 10,300 students across its flagship liberal arts school, Seaver College; the Caruso School of Law; the Graziadio Business School; the Graduate School of Education and Psychology; and the School of Public Policy. Pepperdine is committed to the highest standards of academic excellence and Christian values, where students are strengthened for lives of purpose, service, and leadership. Follow Pepperdine on Facebook, Twitter, Instagram, and LinkedIn.

 

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