Caruso Cites Family, Anger in Politics as Reasons for Dropping Out of LA Mayor Race

The billionaire developer says he will continue to help through the private sector.

Published on Mar. 2, 2026

Got story updates? Submit your updates here. ›

Real estate mogul Rick Caruso has revealed the main reasons he pulled out of prospective 2026 runs for California governor and Los Angeles mayor. Caruso, who ran and lost to Karen Bass in the 2022 mayoral election, said it was his family and the increased anger in politics that ultimately drove his decision. He also gave a full-throated endorsement to San Jose Mayor Matt Mahan for governor, saying Mahan can 'best lead and win'.

Why it matters

Caruso's decision not to run again for LA mayor leaves the field open for a number of candidates, including city council member and Democratic Socialist Nithya Raman. Caruso expressed concern about the direction of the city and its leadership, saying he is 'going through a grieving process' over not running.

The details

In an interview with CNN, Caruso said the 'bottom line' reason he decided not to run was the potential risk to his family. He is married to Tina Caruso and they have four children. Caruso also said politics had 'become a lot angrier' than when he last ran for public office, but vowed to continue helping through the private sector.

  • Caruso ran and lost to Karen Bass in the 2022 LA mayoral election.

The players

Rick Caruso

A billionaire real estate developer who ran and lost to Karen Bass in the 2022 LA mayoral election.

Karen Bass

The current mayor of Los Angeles, who defeated Caruso in the 2022 mayoral election.

Matt Mahan

The mayor of San Jose, whom Caruso endorsed for California governor.

Nithya Raman

A Los Angeles city council member and Democratic Socialist who is running for LA mayor.

Got photos? Submit your photos here. ›

What they’re saying

“There's never any one reason, but the reason that weighed on me the most was the benefit to the family in terms of, is there a risk to the family and the welfare of the family?”

— Rick Caruso (CNN)

“I kept saying to myself, the goal was to make change, not to get a job. And then when I really thought about it: Who can best lead and who can win? And that's Matt [Mahan].”

— Rick Caruso (CNN)

“I'm certainly going through a grieving process. I do love this city, and so I worry about the leadership in the city. I worry about the direction of the city council.”

— Rick Caruso (CNN)

What’s next

Caruso has not yet made up his mind on who to endorse in the LA mayor's race, as more left-leaning candidates like Nithya Raman have entered the field.

The takeaway

Caruso's decision not to run again for LA mayor leaves the field open for a number of candidates, including Nithya Raman. Caruso expressed concern about the direction of the city and its leadership, but vowed to continue helping through the private sector.