Billionaire developer Rick Caruso will not run for Los Angeles mayor or California governor, after months of speculation that he would seek one of the two posts. <\/p>\n
Caruso announced his decision Friday, saying it came after \u201cmany heartfelt conversations\u201d with his family.<\/p>\n
\u201cThough my name will not be on a ballot, my work continues,\u201d Caruso said on X<\/a>. \u201cPublic service does not require a title. It is, and always will be, my calling.\u201d<\/p>\n Caruso\u2019s plans were the talk of political circles. Recently, he seemed to confirm that he would launch a campaign. <\/p>\n Asked by a reporter on Jan. 7 if it was possible he would not run for any office, Caruso responded: \u201cThat option is pretty much off the table now.\u201d<\/p>\n The mall magnate and one-time mayoral candidate said he was \u201cdeeply disappointed to step back from an election I believe is so critical to California\u2019s future.\u201d <\/p>\n In his Friday post on X, Caruso said he will focus on his nonprofit, Steadfast LA<\/a>, which brings industry leaders together to help with fire recovery. <\/p>\n \u201cI am immensely proud of what we are accomplishing through Steadfast LA, supporting victims of the Palisades and Eaton fires, as well as through my company and family foundation\u2019s efforts to strengthen communities in need,\u201d Caruso wrote.<\/p>\n The 66-year-old developer behind popular L.A. malls like the Grove and the 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.<\/p>\n Political consultant Mike Murphy, who was advising Caruso, said he was surprised by Caruso\u2019s decision.<\/p>\n \u201cIt wasn\u2019t a winnability thing. It was a family, quality of life thing,\u201d Murphy said.<\/p>\n Murphy said that polling in both the mayoral and gubernatorial races was promising for Caruso.<\/p>\n \u201cI could tell he was agonizing all week long,\u201d Murphy said.<\/p>\n 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.<\/p>\n Rosales, who primarily works with Republican candidates, said he had been informed by donors and political consultants in Caruso\u2019s circle that the developer would enter the governor\u2019s race. <\/p>\n He said he had no insight into Caruso\u2019s thinking. <\/p>\n \u201cRunning for California governor is one of the hardest things you can do in politics,\u201d he said. \u201cIt\u2019s second only to running for president.\u201d<\/p>\n Another consultant, Rob Stutzman, said that the list of people who have opted not to run for governor this year is particularly long \u2014 and even includes former Vice President Kamala Harris.<\/p>\n \u201cA lot of smart people have decided it may not be a good job,\u201d said Stutzman, whose clients are mostly Republicans.<\/p>\n Caruso served as president of the L.A. 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 age 26 \u2014 the youngest commissioner in city history at the time.<\/p>\n He has steadily critiqued the mayor online and in public appearances since losing to her in 2022, honing his argument for voters to reject the incumbent.<\/p>\n \u201cHer record is so bad,\u201d Caruso said at a town hall he hosted at the Americana on Nov. 3.<\/p>\n Caruso\u2019s 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<\/a>, with arguments about Bass\u2019 response to the Palisades fire and quality of life concerns that are similar to Caruso\u2019s. The developer\u2019s entry could have thrown a wrench into Beutner\u2019s campaign. <\/p>\n The last question mark is L.A. County Supervisor Lindsey Horvath, who said people have been asking her to run for mayor. She told The Times earlier this month that Angelenos are \u201chungry for a different kind of leadership.\u201d<\/p>\n Bass also faces a challenge from her left with Rae Huang, a community organizer and reverend, announcing a run for mayor in November. <\/p>\n Most recently, the entry of former reality star and Palisades fire victim Spencer Pratt has added new intrigue to the race.<\/p>\n Bass\u2019 campaign declined to comment on Caruso\u2019s decision. <\/p>\n