Billionaire developer Rick Caruso has decided not to run for Los Angeles mayor or California governor, despite months of speculation and anticipation. In a statement, Caruso expressed his commitment to public service, stating, 'Though my name will not be on a ballot, my work continues. Public service does not require a title. It is, and always will be, my calling.' This decision comes after Caruso had been considering a run for either office, with political circles buzzing about his potential involvement. Recently, he seemed to confirm his interest, stating, 'That option is pretty much off the table now.' However, in a surprising turn of events, Caruso has chosen to focus on his nonprofit, Steadfast LA, which aims to support fire recovery efforts and strengthen communities in need. The 66-year-old developer, known for his popular L.A. malls, spent $100 million of his own fortune in the 2022 mayoral race, ultimately losing to Karen Bass. Political consultants and analysts had differing opinions on Caruso's decision, with some expressing surprise and others attributing it to family and quality of life considerations. The 2026 mayoral race now appears more solidified, with former Los Angeles Unified School District Superintendent Austin Beutner and L.A. County Supervisor Lindsey Horvath also in the running. Bass faces challenges from both within and outside her party, including community organizer and reverend Rae Huang and former reality star Spencer Pratt. The handling of the Palisades fire has weakened Bass's political standing, and Caruso's criticism of her performance has continued. The question of whether Caruso's decision not to run for mayor will impact the gubernatorial race remains open, as he had been considering a run for governor as well. The field of Democratic candidates for governor includes prominent figures such as Rep. Eric Swalwell, former Rep. Katie Porter, and former Los Angeles Mayor Antonio Villaraigosa, while the top Republican candidates include former Fox News commentator Steve Hilton and Riverside County Sheriff Chad Bianco. The decision not to run for office highlights Caruso's dedication to public service and his commitment to making a difference through his nonprofit work and community involvement.
