News Summary
Billionaire Rick Caruso is weighing a political comeback, considering a run for governor or the mayorality of Los Angeles in the upcoming 2026 election. After losing a self-funded campaign in 2022, Caruso criticized the current mayor’s handling of recent wildfires and pushed for better federal funding relations. Amid rising voter demands for change, he aims to attract moderate voters and support local businesses impacted by the wildfires, reflecting his commitment to revitalizing the community.
Los Angeles – Billionaire Rick Caruso is contemplating a run for either California governor or Los Angeles mayor in the upcoming election set for 2026. Caruso previously engaged in a self-funded mayoral campaign in 2022, which concluded with a defeat to current Mayor Karen Bass. His experience as the founder and executive chairman of Caruso, a prominent real estate development firm, positions him as a notable candidate.
In light of the recent wildfires that have impacted the region, Caruso criticized Bass’s approach to managing the crisis, asserting that the damage could have been mitigated with improved preparation. He highlighted his ownership of luxury shopping centers, including the Palisades Village mall, which sustained minimal fire damage due to the measures he implemented, such as hiring private firefighters.
Caruso urged Governor Gavin Newsom to mend relations with President Donald Trump in an effort to secure federal funding necessary for Los Angeles’ recovery and rebuilding initiatives. Although Governor Newsom has requested nearly $34 billion in federal aid, the lack of support stemmed from ongoing tensions between his administration and the Trump presidency.
As Caruso evaluates his political aspirations, he will be faced with other Democratic contenders, such as Congresswoman Katie Porter and former Los Angeles Mayor Antonio Villaraigosa, particularly following Kamala Harris’s announcement that she will not be partaking in the race. Political analysts have identified Caruso’s potential to succeed in the governor’s race, especially now that the field appears more open without Harris’s participation.
Caruso’s previous venture into politics saw him spend over $100 million of his own wealth in the 2022 mayoral campaign, although he ultimately lost by a margin of seven points. In recent months, he has embarked on a listening tour across California to gauge public opinion and the prevailing issues affecting voters. Feedback from supporters suggests a desire for Caruso to either pursue the governor’s seat or challenge Bass for a rematch in the mayoral race.
Observers also note a growing sentiment among voters looking for change in leadership, signaling an opportunity for Caruso’s potential candidacy. His concerted efforts to align with the Democratic platform include financial contributions to Democratic House candidates and hosting fundraising events for President Joe Biden.
From a strategic standpoint, Caruso is anticipated to attract moderate voters, capitalizing on both his financial resources and his established network within the political framework. In tandem with his political ambitions, he has introduced an initiative in partnership with Banc of California, which aims to support small businesses affected by the January wildfires. This initiative provides grants up to $50,000 to impacted businesses in areas ravaged by the Eaton and Palisades fires.
The objective of this effort centers on revitalizing local businesses, which play a crucial role in the community, helping neighborhoods to recover and foster an invigorated economic landscape. Throughout his political journey and philanthropic endeavors, Caruso remains committed to enhancing local economic activity and nurturing community spirit as he navigates the complexities of a potential gubernatorial run.
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Additional Resources
- Los Angeles Daily News
- Wikipedia: Rick Caruso
- Politico
- Google Search: Rick Caruso California Governor
- New York Times
- Encyclopedia Britannica: Rick Caruso
- KFI AM 640
- Google News: Rick Caruso
Author: STAFF HERE LOS ANGELES WRITER
LOS ANGELES STAFF WRITER The LOS ANGELES STAFF WRITER represents the experienced team at HERELosAngeles.com, your go-to source for actionable local news and information in Los Angeles, Los Angeles County, and beyond, specializing in "news you can use" with coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise from years of dedicated reporting and strong community input, including local press releases and business updates, while delivering top reporting on high-value events like the Academy Awards, LA Auto Show, and Los Angeles Marathon, extending coverage to key organizations such as the Los Angeles Area Chamber of Commerce and the Los Angeles Tourism & Convention Board, plus leading businesses in entertainment and technology like Warner Bros. and SpaceX, and as part of the broader HERE network including HEREAnaheim.com , HERECostaMesa.com , HEREHuntingtonBeach.com , and HERESantaAna.com , providing comprehensive, credible insights into Southern California's dynamic landscape. HERE Anaheim HERE Beverly Hills HERE Coronado HERE Costa Mesa HERE Hollywood HERE Huntington Beach HERE Long Beach HERE Los Angeles HERE Mission Viejo HERE San Diego HERE Santa Ana
