Billionaire real estate developer Rick Caruso announced he’s officially out of the race for LA mayor and California governor.<\/p>\n
The Los Angeles shopping mall mogul said the decision not to run for elected office comes after talks with his family and the impacts of a potential campaign.<\/p>\n
“After much reflection and many heartfelt conversations with my family, I have decided not to pursue elected office at this time,” wrote Caruso<\/a>. “It is a difficult decision, and I am deeply disappointed to step back from an election I believe is so critical to California’s future.”<\/p>\n \n\t\t\t\t\t\t\t\tNBC4\u2019s Political Reporter Conan Nolan speaks with businessman Rick Caruso about federal immigration raids, President Donald Trump and remedying homelessness.\n\t\t\t\t\t\t\t<\/p>\n Caruso had not ruled out a run for governor after losing the Los Angeles mayoral race to Karen Bass in 2022. He previously opposed a recall effort to unseat Mayor Bass following the backlash from the deadly wildfires in 2025.<\/a><\/p>\n The real estate developer has routinely posted on social media about the problems the city of Los Angeles continues to face and has had a high-profile role in the recovery of the Pacific Palisades, where he owns the popular Palisades Village.<\/p>\n Caruso also did a statewide listening tour, appearing on multiple national talk shows and even the joe rogan podcast.<\/p>\n In a gubernatorial run, he was expected to pull from centrist and independent voters from former LA Mayor Antonio Villaraigosa and former HHS Secretary Xavier Becerra.<\/p>\n Caruso served as president of the LAPD Police Commission and was on the LADWP board of directors.<\/p>\n “I remain devoted to serving our communities in every way I can, just from a different seat,” wrote Caruso.<\/p>\n He says he will continue to help the city through Steadfast LA, a civic nonprofit dedicated to supporting wildfire-impacted communities.<\/p>\n Caruso’s decision comes ahead of the upcoming midterm elections in 2026, where the race for California governor remains wide open.<\/p>\n \t\t\t\t\t\t\t\t\t