Billionaire Rick Caruso Opts Against LA Mayoral Run in Surprise

Rick Caruso, a billionaire real estate developer, will not run for California governor or mayor of Los Angeles, he announced on X Friday.

“I am deeply disappointed to step back from an election I believe is so critical to California’s future,” Caruso, 67, said in the post. He made the decision to skip being a candidate after “much reflection and many heartfelt conversations” with his family, he wrote

Caruso, a former Republican, would have faced an uphill battle for governor in the deeply blue Golden State. The governor’s race is crowded with no clear frontrunner. Incumbent Gavin Newsom is ...