Karoline Leavitt’s husband, Nicholas “Nick” Riccio, went from a homeless youth to a multimillion-dollar real estate developer.
Riccio built his fortune through property renovation, management, and vacation rentals, specializing in converting distressed properties into valuable assets.
As founder of Riccio Enterprises LLC and Nautical Beach Properties, he owns numerous properties throughout New England.
Childhood experiences of housing instability influenced his business approach, motivating his focus on creating quality rental properties.
Despite his wealth, Riccio maintains a relatively private life as the husband of White House Press Secretary Karoline Leavitt.
A passionate sports enthusiast, his ultimate ambition extends beyond real estate to owning a professional sports team.
Current Net Worth of Nicholas “Nick” Riccio – $ 6 Million
Multiple sources estimate that Nicholas Riccio’s net worth in 2025 will be around $6 million.
Riccio built his fortune with his real estate company, Riccio Enterprises LLC, which he founded in the early 2000s.
Riccio’s story is a remarkable journey from homelessness to a real estate empire spanning Hampton Beach to the White Mountains.
His company manages millions in properties, primarily in New Hampshire.
The strategy focuses on rehabilitating distressed properties into valuable assets.
NOTE: A few sources claim that Nicholas Riccio’s net worth is close to $45 million, but the most widely accepted figure regarding his net worth is $6 million.
Nicholas Riccio’s Diversified Investments
Nicholas Riccio has built his wealth primarily through strategic real estate investments, focusing on property renovation, management, and vacation rentals.
His specialty lies in transforming distressed properties into valuable assets.
His portfolio includes properties from Hampton Beach to Boston and the White Mountains, primarily in New Hampshire.
His business model revolves around purchasing undervalued properties, renovating them, and either selling or renting them for profit.
Unlike speculative flippers, Riccio employs a long-term vision focused on sustainable property growth that ensures stable returns.
His wealth mainly comes from his extensive property holdings with Riccio Enterprises LLC, but details on other investments remain undisclosed.
Major Assets
Nicholas Riccio’s primary assets include his multimillion-dollar real estate company, Riccio Enterprises LLC, and its subsidiary, Nautical Beach Properties.
His portfolio encompasses approximately 15 buildings in Hampton Beach, New Hampshire, comprising around 70 living units.
Beyond Hampton Beach, he owns properties extending from Boston to the White Mountains.
His assets include both residential and vacation rental properties, with many converted from previously distressed conditions.
His Hampton Beach home also contains what he calls a “sports museum” with valuable sports memorabilia.
Properties
Nicholas Riccio owns a substantial real estate portfolio centered in New Hampshire. His primary holdings include 15 buildings comprising 70 living units in Hampton Beach.
His property empire extends geographically from Boston to the White Mountains and is managed through his companies, Riccio Enterprises LLC and Nautical Beach Properties.
He specializes in acquiring distressed properties and remaking them into valuable assets through extensive renovations.
His Hampton Beach personal residence includes a notable sports memorabilia collection, reflecting both his business success and personal interests.
Nicholas Riccio’s Overall Career Earnings
Nicholas Riccio has accumulated estimated career earnings of millions of dollars through his real estate ventures.
Starting from humble beginnings, he transitioned from stocking grocery store shelves to managing a multimillion-dollar property empire.
His earnings primarily come from in-demand property sales and rentals, long-term returns from renovated properties, and potential business partnerships.
His company’s annual income isn’t disclosed, but it reportedly generates millions yearly from property sales, rental income, and renovations.
His business model of changing distressed properties into valuable assets has proven particularly lucrative in the New Hampshire coastal market.
Nicholas Riccio’s Private Life
Nicholas Riccio, 59, married White House Press Secretary Karoline Leavitt, 27, in January 2025, days before President Trump’s second inauguration.
The couple welcomed their son Nicholas “Niko” in July 2024.
Riccio is described as an introvert, quite the opposite of his outgoing wife.
He’s a sports fanatic with a “virtual museum” of memorabilia, including Muhammad Ali-signed gloves and Larry Bird photos.
He once briefly spoke with then-President George W. Bush, talking about baseball ownership, a conversation that profoundly affected him.
Despite his success, Riccio maintains a relatively private lifestyle away from the media spotlight.
Fun Fact: Despite his reserved nature, Nicholas Riccio secretly collects vintage arcade games and has a full Pac-Man championship trophy from 1987.
Early Life
Nicholas Riccio was born in 1965 and endured a turbulent childhood.
His parents divorced young, and he and his four siblings were raised by their mother, Marilyn, in Massachusetts.
By age 18, Riccio became homeless, a situation that continued on and off for years.
During college at Plymouth State, he often slept in his car because he couldn’t afford rent.
Despite these obstacles, he showed remarkable determination and resilience that would later fuel his business success.
Career Beginnings
Nicholas Riccio began stocking shelves at Purity Supreme grocery stores in Massachusetts while studying real estate in 1990.
His altering moment came in 1993 during a drive with his mother to Hampton Beach, where he saw potential in the dilapidated buildings on M Street.
He borrowed 50-100% interest from friends to buy his first property on M Street, launching a real estate empire.
Nicholas Riccio’s Future Investment Goals
Nicholas Riccio keeps his investment plans private, but his ambition to own a professional sports team reveals his long-term goals.
His strategic approach suggests continued focus on sustainable property growth rather than speculative flipping.
Likely priorities include expanding into new housing markets to sustain long-term growth and further diversifying his portfolio beyond New Hampshire.
His business philosophy of identifying undervalued properties with high growth potential will likely continue guiding his investment strategy.
As his wealth grows, Riccio may pursue trophy investments like commercial real estate in major cities or a sports franchise.
Philanthropy and Charity Work
Information about Nicholas Riccio’s philanthropic activities is limited in public sources, reflecting his generally private nature.
His experience with homelessness and financial hardship may lead him to support housing and poverty causes, though contributions are undocumented.
His connection to sports and extensive memorabilia collection suggests potential interest in sports-related charities.
Unlike many high-profile wealthy individuals, Riccio appears to maintain a low public profile regarding charitable giving.
He builds a business and family with Karoline Leavitt and their son, keeping philanthropic efforts private, reflecting his introverted nature.
Conclusion
Nicholas Riccio exemplifies the ideal American rags-to-riches story.
From sleeping in his car to building a multimillion-dollar real estate empire, he shows remarkable resilience and business acumen.
Though rarely publicized, his mentorship of young entrepreneurs from disadvantaged backgrounds has launched several successful careers in real estate development.
With an astonishing net worth, Nicholas Riccio has turned his vision of rehabilitating distressed properties into wealth.
Despite his success, he maintains a private life centered on business, sports, and family with his wife and son.
His story powerfully reminds us that determination, strategic investment, and calculated risks can overcome challenging beginnings.
