Hold on to your hats, folks! Just when we thought we were about to witness another high-stakes political showdown, billionaire real estate mogul Rick Caruso has officially announced he won't be throwing his hat into the ring for either Los Angeles mayor or California governor. This news comes after months of swirling rumors and speculation, leaving many political observers scratching their heads. But here's where it gets interesting...
Caruso, known for his upscale shopping centers like The Grove and the Americana at Brand, made the announcement public on Friday, citing "many heartfelt conversations" with his family as the deciding factor. In a post on X (formerly Twitter), he stated, "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 declaration leaves us wondering – what exactly does he have planned?
The possibility of a Caruso campaign had been a major topic of conversation in California's political circles. In fact, just weeks prior, he seemed to all but confirm his intention to run. When a reporter asked him on January 7th if he might not run for any office, Caruso responded, "That option is pretty much off the table now." What a turnaround!
The one-time mayoral candidate expressed "deep disappointment to step back from an election I believe is so critical to California’s future." Instead, Caruso says he will now dedicate his efforts to his nonprofit, Steadfast LA, which focuses on bringing industry leaders together to aid in fire recovery efforts. He highlighted the organization's work supporting victims of the Palisades and Eaton fires and his family foundation's initiatives to uplift communities in need.
Remember the 2022 mayoral race? Caruso poured a staggering $100 million of his own money into the campaign, outspending eventual winner Karen Bass by a whopping 11 to 1. Despite this massive financial advantage, he lost by nearly 10 percentage points. Political consultant Mike Murphy, who advised Caruso, admitted he was surprised by the recent decision. "It wasn’t a winnability thing. It was a family, quality of life thing," Murphy explained, adding that polling had actually looked promising for Caruso in both the mayoral and gubernatorial races. "I could tell he was agonizing all week long."
Political consultant Tim Rosales echoed the surprise, noting that he had seen signs pointing towards a gubernatorial run. Rosales, who typically works with Republican candidates, stated that donors and political consultants within Caruso's circle had informed him of the developer's intention to enter the governor's race. “Running for California governor is one of the hardest things you can do in politics,” he said. “It’s second only to running for president.”
And this is the part most people miss... Rob Stutzman, another consultant, pointed out that the list of prominent figures who have opted not to run for governor this year is remarkably long, including even former Vice President Kamala Harris. "A lot of smart people have decided it may not be a good job," Stutzman observed. Could this be a sign that the challenges and responsibilities of the office are simply too daunting for even the most ambitious individuals?
Caruso's experience in public service includes serving as president of the L.A. Police Commission in the 2000s, where he played a key role in hiring William Bratton as police chief. He also served on the Department of Water and Power board in 1984, becoming the youngest commissioner in the city's history at the time – he was only 26!
Since his 2022 mayoral defeat, Caruso has consistently criticized Mayor Bass online and in public appearances. He has been actively building a case for voters to reject her leadership, stating at a town hall in November, "Her record is so bad."
Caruso's decision to stay out of the mayoral race largely solidifies the field against Bass in 2026. Former Los Angeles Unified School District Superintendent Austin Beutner is already running a moderate campaign, focusing on issues similar to Caruso's, such as Bass's response to the Palisades fire and overall quality of life concerns. Caruso's entry could have significantly disrupted Beutner's campaign strategy.
The remaining question mark is L.A. County Supervisor Lindsey Horvath, who has acknowledged being encouraged to run for mayor. She told the Los Angeles Times that Angelenos are "hungry for a different kind of leadership." Bass also faces a challenge from the left in the form of Rae Huang, a community organizer and reverend. Most recently, the entry of former reality star and Palisades fire victim Spencer Pratt has added a new layer of intrigue to the race.
Bass's campaign has declined to comment on Caruso's decision. However, it's no secret that the mayor has faced criticism for her handling of the Palisades fire. Caruso was among those who publicly criticized her for being in Ghana on a diplomatic mission when the fire broke out. He further criticized the city's response, calling the drying up of hydrants during the fire "an absolute mismanagement by the city."
Had Caruso decided to run for governor, he might have faced resistance from voters in heavily Democratic areas due to his past Republican affiliation. Despite registering as a Democrat in 2022, his previous party registration has been a point of contention. However, his focus on public safety and quality of life issues could have resonated with California voters dissatisfied with the current gubernatorial candidates.
The field of Democratic candidates vying for governor includes figures like Rep. Eric Swalwell, former Rep. Katie Porter, and former Los Angeles Mayor Antonio Villaraigosa. Billionaire hedge fund founder Tom Steyer is also in the running. On the Republican side, top contenders include former Fox News commentator Steve Hilton and Riverside County Sheriff Chad Bianco.
As he considered a gubernatorial bid, Caruso made multiple trips to Sacramento and other parts of the state to engage with labor leaders, community groups, and politicians. Sara Sadhwani, a professor of politics at Pomona College, speculates, "My guess is he did polling and he did not see a path forward." She added, "Had he jumped into either race and lost, it would have made the prospects of elected office even further away."
So, what does this all mean? Is Caruso truly stepping back from politics, or is this a strategic move to re-evaluate and potentially re-emerge at a later time? Will his absence significantly alter the landscape of the upcoming mayoral and gubernatorial races? And what impact will his continued focus on Steadfast LA have on communities in need?
Here's a controversial thought: Could Caruso's decision be less about family and more about recognizing the changing political tides in California? Perhaps he sees a shift in voter priorities and believes his brand of moderate, business-oriented leadership is no longer as appealing as it once was.
What do you think? Will California politics miss Caruso's presence? Do you believe his explanation for not running, or is there more to the story? Share your thoughts and opinions in the comments below!
