LOS ANGELES – Billionaire developer Rick Caruso said Thursday he is not running for LA mayor in the upcoming 2026 election.
Just one day before his final decision, Caruso told FOX 11 that he was possibly reconsidering running after an LA Times article reported that Mayor Karen Bass had directed the watering-down of a Palisades Fire after-action report. Bass and her office denied the accusation.
Caruso said it made him “very concerned for the future of LA” and the allegations in the report were weighing heavily on him.
“Incompetence is one thing, but it’s very different when you mix incompetence with someone who is actively lying to the people she has sworn to serve,” Caruso told FOX 11’s Matthew Seedorff.
“Rick is incredibly moved by outpouring of support but reached an earlier decision in a thoughtful process and it stands. He will not be a candidate for mayor,” Mike Murphy, a political consultant for Caruso, told the LA Times on Thursday.
The backstory:
Caruso, the developer behind the Grove and the Americana at Brand, has been a longtime critic of Bass, especially since the 2025 Palisades Fire.
He ran against Bass in the 2022 mayoral election but fell short by just 9.66%.
Mayoral challengers
Those challenging Karen Bass include TV personality Spencer Pratt, former tech executive and co-founder of Cornerstone On Demand, Adam Miller, community organizer, Rae Huang, engineer, Asaad Alnajjar, and several others.
Former LAUSD Superintendent Austin Beutner dropped out of the race on Feb. 5 following the death of his daughter.
As of Feb. 5, 2026, the LA City Ethics Commission website has a total of 37 mayoral candidates listed.
The deadline to file paperwork to enter the race is Saturday, Feb. 7.
Austin Beutner exits LA mayor’s race
Former LAUSD Supt. Austin Beutner has suspended his Los Angeles mayoral campaign following the tragic death of his 22-year-old daughter, Emily.
What’s next:
The statewide primary election is on June 2, 2026. If no candidate receives a majority of the vote, the top two vote-getters will face off in the general election on November 3, 2026.
The Source: Information for this story came from previous FOX 11 reports and FOX 11’s Matthew Seedorff.