Gavin Newsom Taps Magic Johnson, Casey Wasserman & Mark Walter To Lead $100M LA Rises Initiative To Rebuild City After Fires
Gavin Newsom today announced an initiative to help rebuild Los Angeles after the recent fires. Dubbed LA Rises, the effort will be led by high-profile sports and entertainment leaders, including Magic Johnson, Casey Wasserman and Dodgers Chairman Mark Walter. The mandate is to create “a unified recovery initiative that brings together private sector leaders to support rebuilding efforts led by the city of Los Angeles.” That will include not only recruiting other community leaders, but also to raise money. To seed the effort, the Mark Walter Family Foundation and the Los Angeles Dodgers Foundation have provided an initial commitment of up to $100 million.
“Los Angeles will rise again — stronger, more united, and more resilient than ever,” Newsom said in a statement. “Just as California came together to fight the fires, we’ll work together to rebuild. With Mark, Earvin and Casey’s proven leadership and deep commitment to Los Angeles, we’ll tap into the enormous creativity, experience, and resources of the private sector, alongside local, state, and federal efforts, to deliver a recovery that benefits all Angelenos.”
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Indeed, the effort’s goal is to “marshal the full resources of the private sector, augmenting and amplifying local and state resources, to rebuild Altadena, Pasadena, the Pacific Palisades, and all impacted communities.”
LA Rises will focus on providing access to capital and financial tools, leveraging innovation and fostering private-sector investment. It will support the broader recovery efforts by:
Fundraising and expanding access to philanthropic and private capital
Formulating financing strategies to close the gap between available resources and the cost to rebuild
Collaborating with other philanthropic and community organizations to maximize the impact of ongoing rebuilding and recovery efforts
Supporting unified communication efforts to arm Angelenos with up-to-date, factual information, timelines for rebuilding, and available resources
“This is a time for bold action. We’re bringing together the best resources and biggest hearts across California to ensure that every Angeleno — no matter their race, socioeconomic status, or neighborhood — has a chance to rebuild and thrive. This isn’t just about recovery; it’s about restoring communities while also making them more resilient and better than before,” said Laker great and business mogul Johnson in a statement.
Wasserman is, of course, already involved in recovery efforts through his work as a Motion Picture Television Fund board member and fundraiser. He’s also the Chairperson and President of LA28 effort around the coming L.A. Olympics and chief of his eponymous sports and media agency.
Said Wasserman, “I’ve been a lifelong Angeleno, and what I admire most about this city is its resilience and unity. There’s nothing Los Angeles can’t achieve. LA Rises will channel the unmatched creativity, resources, and generosity of the private sector to rebuild our city and pave the way for a stronger future.”
Walter, who’s putting big money behind the project, explained his own motivation (and pitch to others) thusly:
“The LA fires have wreaked havoc on LA’s neighborhoods. It’s time for those with means to come forward and make a positive impact to build back better.”
L.A. County Board of Supervisors Chair Kathryn Barger, whose 5th district includes areas destroyed to both the Hughes And Eaton fires, said she “wholeheartedly” endorses the effort.
“When it comes to supporting initiatives — like this one — that look to arm us with the resources to rebuild with a bottom-up approach, I’m all in.”
Mayor Karen Bass called LA Rises “a vital component of a comprehensive effort to bring Angelenos home.”
In addition to the financial commitment from the Mark Walter Family Foundation, and the Dodgers Foundation, LA Rises will receive financial support from California Rises, a statewide recovery initiative founded by Governor Newsom and First Partner Siebel Newsom after the 2018 Camp Fire. A partnership between the Governor’s Office and the California Fire Foundation, California Rises is dedicated to supporting communities impacted by fires and firefighters and first responders who continue to serve on the frontlines.
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