Los Angeles developer Rick Caruso announced Friday he will not pursue a run for mayor or governor of California, ending months of speculation about his political future.
Caruso Steps Back From Political Arena
The billionaire developer will focus on his nonprofit work after considering bids for both statewide and local office.
- Caruso, who spent $100 million on a failed 2022 mayoral bid, cited family considerations in his decision.
- He had recently indicated a strong possibility of running for office in 2026.
- Caruso will now concentrate on his Steadfast LA nonprofit, which supports fire recovery efforts.
- His withdrawal reshapes the landscape for the 2026 Los Angeles mayoral race.
“Though my name will not be on a ballot, my work continues,” Caruso said on X. “Public service does not require a title. It is, and always will be, my calling.”
What factors led to Rick Caruso’s decision to forgo a run for office? Caruso explained his choice stemmed from “many heartfelt conversations” with his family, a sentiment echoed by political consultant Mike Murphy, who stated it was a “family, quality of life thing.”
The 66-year-old developer, known for upscale shopping centers like the Grove and the Americana at Brand, lost the 2022 Los Angeles mayoral race to Karen Bass despite significantly outspending her—$100 million to her $11 million—by nearly 10 percentage points. He had been a vocal critic of Bass since the election, particularly regarding her handling of recent crises.
Caruso’s potential candidacy had been a major topic in California political circles. As recently as Jan. 7, when asked if he would rule out running for any office, he responded, “That option is pretty much off the table now.” He expressed “deep disappointment” at stepping back from what he believed was a critical election for California’s future.
He plans to dedicate his efforts to Steadfast LA, a nonprofit focused on bringing industry leaders together to aid in fire recovery, specifically mentioning support for victims of the Palisades and Eaton fires. “I am immensely proud of what we are accomplishing through Steadfast LA,” Caruso wrote on X.
The decision significantly impacts the 2026 Los Angeles mayoral race. Former Los Angeles Unified School District Superintendent Austin Beutner is already running a moderate campaign, focusing on issues similar to those raised by Caruso, such as the response to the Palisades fire and quality of life concerns. Caruso’s entry into the race could have presented a formidable challenge to Beutner.
Los Angeles County Supervisor Lindsey Horvath is also considering a run, stating that Angelenos are “hungry for a different kind of leadership.” Bass faces challenges from both sides of the political spectrum, with community organizer Rae Huang running to her left and, most recently, former reality star Spencer Pratt entering the race.
Bass’ campaign declined to comment on Caruso’s announcement. The mayor has faced criticism for her handling of the Palisades fire, particularly for being on a diplomatic mission in Ghana when the fire erupted. Caruso publicly criticized the situation, calling the drying up of fire hydrants during the blaze “an absolute mismanagement by the city.”
A run for governor could have presented challenges for Caruso, a former Republican who registered as a Democrat in 2022. Some voters in the state’s more liberal areas might have been hesitant to support him given his past political affiliation.
Several other potential gubernatorial candidates have also opted not to run, including former Vice President Kamala Harris. “A lot of smart people have decided it may not be a good job,” said political consultant Rob Stutzman.
Caruso previously served as president of the Los Angeles Police Commission in the 2000s, playing a role in hiring William Bratton as police chief. He was appointed to the Department of Water and Power board in 1984 at age 26, becoming the youngest commissioner in the city’s history at the time.
Political consultant Tim Rosales, who works primarily with Republican candidates, expressed surprise at the announcement, noting he had received information suggesting Caruso was preparing to enter the governor’s race. “Running for California governor is one of the hardest things you can do in politics,” he said.
Sara Sadhwani, a professor of politics at Pomona College, speculated that Caruso’s decision was based on polling data. “My guess is he did polling and he did not see a path forward,” she said. “Had he jumped into either race and lost, it would have made the prospects of elected office even further away,” she added.
