LOS ANGELES (KABC) — Billionaire developer Rick Caruso announced Friday that he will not run for California governor or Los Angeles mayor.
“After much reflection and many heartfelt conversations with my family, I have decided not to pursue elected office at this time. It was a difficult decision, and I am deeply disappointed to step back from an election that is so critical to California’s future,” Caruso said in a post on social media.
“Though my name will not be on a ballot, my work continues.”
Caruso ran for mayor of L.A. in 2022 when he finished second to Karen Bass.
Caruso, 67, has been critical of Bass’ handling of the Palisades Fire, sparking rumors of a mayoral rematch. And with Gov. Gavin Newsom no longer eligible for re-election this year, Caruso emerged as a potential candidate.
Caruso’s statement said he is “deeply grateful” to people who encouraged him to run.
“I remain devoted to serving our communities in every way I can, just from a different seat,” his statement said.
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