Billionaire developer Rick Caruso has officially ended speculation about a 2026 run for California governor, telling supporters he will stay on the sidelines after losing the 2022 Los Angeles mayor’s race to Karen Bass.
At a Glance
- Caruso rules out both LA mayor and California governor campaigns
- Decision follows family talks and fallout from possible bid
- He had toured the state, hit national shows, and recorded with Joe Rogan
- Why it matters: The move leaves the centrist lane wide open in a contest already without a clear front-runner
The shopping-mall magnate, who owns Palisades Village in the fire-scarred Pacific Palisades, announced the move in a statement released Monday.
“After much reflection and many heartfelt conversations with my family, I have decided not to pursue elected office at this time,” Caruso wrote. “It is a difficult decision, and I am deeply disappointed to step back from an election I believe is so critical to California’s future.”
From Mayoral Defeat to Governor Rumors
Caruso never conceded the possibility of another campaign after his 2022 loss. He spent the past two years:
- Crisscrossing the state on a listening tour
- Appearing on national talk shows
- Sitting for a lengthy interview on the Joe Rogan podcast
- Posting frequent social-media commentary on Los Angeles issues
- Taking a high-profile role in Palisades wildfire recovery
The real-estate executive also opposed the failed recall effort against Mayor Bass that followed the January 2025 wildfires.
A Centrist Path Now Unclear
Political watchers had projected that a Caruso bid would draw support from:
- Centrist Democrats
- Independent voters
- Backers of former Los Angeles Mayor Antonio Villaraigosa
- Allies of former Health and Human Services Secretary Xavier Becerra
With Caruso out, those voters remain up for grabs in a race that so far lacks a dominant candidate.
Civic Role Instead of Campaign
Caruso pledged to remain active in public life through Steadfast LA, a nonprofit he founded to aid communities hit by wildfires.
“I remain devoted to serving our communities in every way I can, just from a different seat,” he wrote.
Past Public Service
Before his mayoral bid, Caruso held several civic posts:
- President of the Los Angeles Police Commission
- Member of the Los Angeles Department of Water and Power board
2026 Outlook
The announcement lands 14 months ahead of the midterm primary. No major Republican or Democratic contender has declared, leaving the field fluid and fundraising networks unaligned.
Caruso’s exit removes a self-funding candidate who spent more than $100 million of his own money on the mayoral contest, a sum that would have instantly reshaped the governor’s race.
Key Takeaways
- Caruso’s decision keeps the 2026 governor contest wide open
- Centrist and business-oriented voters lack an obvious standard-bearer
- His nonprofit work signals continued, if non-electoral, involvement in state issues
