Billionaire developer Rick Caruso will not run for mayor of Los Angeles or governor of California, after months of speculation that he would run for one of the two positions.
Caruso announced his decision Friday, saying it came after “many heartfelt conversations” with his family.
“Even though my name will not appear on a ballot, my work continues,” Caruso said on X. “Public service does not require a title. It is and always will be my calling.”
Caruso’s plans have been talked about in political circles. Recently, he seemed to confirm that he was going to launch a campaign.
Asked by a reporter on January 7 whether it was possible that he would not run for any office, Caruso replied: “That option is practically off the table now.”
The shopping mall mogul and former mayoral candidate said he was “deeply disappointed to walk away from an election that I believe is so crucial to the future of California.”
In his Friday article on X, Caruso said he would focus on his nonprofit, Steadfast LA, which brings together industry leaders to help with fire recovery.
“I am immensely proud of what we are accomplishing through Steadfast LA, supporting the victims of the Palisades and Eaton fires, as well as through the efforts of my business and family foundation to strengthen communities in need,” Caruso wrote.
The 66-year-old developer behind popular Los Angeles malls like the Grove and Americana at Brand spent $100 million of his own fortune to run for mayor against Karen Bass in 2022, outspending her 11 to 1 but losing by nearly 10 percentage points.
Political consultant Mike Murphy, who advised Caruso, said he was surprised by Caruso’s decision.
“It wasn’t about winning. It was about family and quality of life,” Murphy said.
Murphy said polls in the mayoral and gubernatorial races are promising for Caruso.
“I could tell he was in pain all week,” Murphy said.
Political consultant Tim Rosales said he was surprised by the announcement, calling it particularly unexpected because he saw signs that Caruso would run for governor.
Rosales, who works primarily with Republican candidates, said he was informed by donors and political consultants in Caruso’s entourage that the developer would enter the gubernatorial race.
He said he had no idea what Caruso was thinking.
“Running for governor of California is one of the hardest things you can do in politics,” he said. “It’s right after running for president.”
Another consultant, Rob Stutzman, said the list of people who have chosen not to run for governor this year is particularly long — and even includes former Vice President Kamala Harris.
“A lot of smart people decided maybe it wasn’t a good job,” said Stutzman, whose clients are mostly Republicans.
Caruso served as chairman of the Los Angeles Police Commission in the 2000s, helping to hire William Bratton as police chief. He was appointed to the Department of Water and Power board in 1984, at the age of 26 – the youngest commissioner in the city’s history at the time.
He has continued to criticize the mayor online and in public appearances since losing to her in 2022, honing his argument for voters to reject the incumbent president.
“His record is so bad,” Caruso said during a town hall he hosted at Americana on Nov. 3.
Caruso’s decision not to run for mayor largely solidifies the 2026 field against Bass. Former Los Angeles Unified School District Superintendent Austin Beutner is running a moderate campaign, with arguments about Bass’ response to the Palisades fire and quality of life issues similar to Caruso’s. The developer’s entry could have put a damper on Beutner’s campaign.
The final question mark concerns Los Angeles County Supervisor Lindsey Horvath, who said people have been asking her to run for mayor. She told the Times earlier this month that Angelenos were “hungry for a different kind of leadership.”
Bass also faces a challenge from his left with Rae Huang, a community organizer and reverend, announcing her candidacy for mayor in November.
More recently, the entry of Spencer Pratt, former reality TV star and Palisades fire victim, added new intrigue to the race.
Bass’ campaign declined to comment on Caruso’s decision.
The mayor was politically weakened by her handling of the Palisades fire. Caruso was among those who criticized him for being in Ghana on a diplomatic mission when the fire broke out. When she returned, she was at odds with her fire chief and unstable in her public appearances.
Caruso maintained his criticism, calling the drying of fire hydrants during the fire “absolute mismanagement by the city.”
Had he run for governor, some voters in blue pockets of the state might have rejected Caruso, a former Republican who registered as a Democrat in 2022 and faced questions about his past party registration.
Still, the developer, who has made public safety and quality of life issues his main arguments, could have attracted California voters unhappy with the current crop of gubernatorial candidates.
No single candidate topped the field, while some potential contenders, including Sen. Alex Padilla and Atty. General Rob Bonta announced he was not running.
The field of Democratic candidates includes current and former California politicians, including Rep. Eric Swalwell, former Rep. Katie Porter and former Los Angeles Mayor Antonio Villaraigosa. Billionaire hedge fund founder Tom Steyer is also a candidate.
Leading Republican candidates include former Fox News commentator Steve Hilton and Riverside County Sheriff Chad Bianco.
As he considered a run for governor last year, Caruso traveled several times to Sacramento and across the state to meet with labor leaders, community groups and politicians.
“I guess he took a poll and didn’t see a path forward,” said Sara Sadhwani, a politics professor at Pomona College.
“If he had gone into either race and lost, that would have made his chances of being elected even more remote,” she added.
Source | domain www.latimes.com
