Billionaire developer Rick Caruso has decided not to pursue a run for mayor of Los Angeles or governor of California, following months of speculation regarding his political ambitions. On Friday, Caruso announced his choice, attributing it to “many heartfelt conversations” with his family. He expressed that even without being on a ballot, his commitment to public service remains unwavering, stating, “Public service does not require a title. It is, and always will be, my calling.”
Caruso’s potential candidacy was a recurring topic in political discussions as he had previously hinted at running for either office. Just last month, he seemed to imply that he was leaning toward a campaign when he dismissed a question about not running at all, noting that such an option was “pretty much off the table now.” However, Caruso will now focus his efforts on his nonprofit organization, Steadfast LA, which seeks to aid recovery efforts for victims of the Palisades fire.
At 66, Caruso is known for developing iconic locations in Los Angeles, including the Grove and the Americana at Brand. In the 2022 mayoral race, he made headlines by spending an astonishing $100 million of his personal fortune in an attempt to defeat Karen Bass, ultimately losing by nearly 10 percentage points. His experience includes serving as president of the L.A. Police Commission and a long tenure at the Department of Water and Power board, where he was the youngest commissioner in the city’s history.
In the wake of his decision not to run, the political landscape for the 2026 mayoral election becomes clearer, particularly for Bass, who is likely to face challenges from both moderate and progressive candidates. Former L.A. Unified School District Superintendent Austin Beutner has started a moderate campaign, while community organizer Rae Huang and former reality star Spencer Pratt have also entered the race.
While Caruso’s brand of messaging—which emphasizes public safety and quality of life—might have resonated with segments of California voters dissatisfied with the current candidates for governor, his past as a registered Republican could have complicated his potential appeal. Analysts suggest that Caruso’s choice to withdraw may have been strategic; entering either race without a clear path could hinder future political aspirations.
As political dynamics continue to evolve, Caruso’s decision presents an opportunity for a range of candidates to carve their niches in the upcoming elections, potentially leading to a diverse and competitive political arena.