LOS ANGELES — Billionaire developer Rick Caruso on Friday announced he would not run for public office amid speculation he would challenge Mayor Karen Bass — especially in the aftermath of the LA-area wildfires.
“I am deeply grateful to the countless people who encouraged me to run, and who generously shared their time and energy,” Caruso said in a statement posted on X.
Caruso said that while it had been an honor to hear the stories of hope and aspirations from Angelenos and Californians, he had made “a difficult decision” and was “disappointed to step back from an election I believe is so critical to California’s future.”
“Public service does not require a title. It is and will always be, my calling. I remain devoted to serving our communities in every way I can, just from a different seat,” Caruso wrote in his statement.
In ruling out elected office, Caruso seems to rule out a run for California governor, too. In 2022, Caruso lost to Karen Bass in LA’s mayoral race.