Sunday, January 18, 2026- Billionaire real estate developer Rick Caruso has announced he will not pursue a run for Los Angeles mayor or California governor in 2026, ending months of speculation about his political future.
After publicly considering a campaign for either office, Caruso said he has decided not to seek elected office at this time, citing careful reflection and conversations with his family. His decision closes widespread political chatter about his potential candidacy in two of California’s most high-profile races.
Caruso, who spent more than $100 million of his own money during the 2022 Los Angeles mayoral campaign and narrowly lost to incumbent Mayor Karen Bass, had been seen as a strong contender in both the mayoral and gubernatorial races.
Despite his high profile and potential influence on either contest, he chose to step back, emphasizing that public service does not require holding an office and that his work can continue outside of elected positions.
Instead of running for office, Caruso plans to focus on community efforts, particularly through his nonprofit, Steadfast LA, which supports wildfire recovery and rebuilding in affected areas.
His withdrawal reshapes the political landscape in California’s upcoming elections, leaving both the Los Angeles mayoral and gubernatorial fields open to other contenders as the 2026 primary cycle approaches.
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