Rick Caruso Bows Out of California Politics, Shifts to Private Service

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Politics

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Billionaire developer Rick Caruso won’t run for California governor or LA mayor - Politico

Billionaire Rick Caruso Bows Out of California Politics

After months of intense speculation, billionaire developer Rick Caruso has announced he will not run for California governor or Los Angeles mayor, dashing hopes of many centrists eyeing his comeback. The centrist Democrat, who lost to Mayor Karen Bass in 2022, appeared poised for a political return following the devastating Palisades Fire that ravaged his Pacific Palisades neighborhood last year.[1][2][3]

From Wildfire Criticism to Campaign Speculation

Caruso sharply criticized Bass's leadership during the crisis, launching nonprofit Steadfast LA to aid recovery efforts and highlighting public safety and quality-of-life issues. His high-profile media presence and statewide travels fueled rumors of a gubernatorial bid to replace term-limited Governor Gavin Newsom or a mayoral rematch. Yet, challenges loomed: his past Republican ties alienated some Democrats, and polls likely showed no clear path in the hyper-partisan climate.[2][3][4]

Shifting Focus to Private Service

Expressing deep disappointment over California's critical elections, Caruso cited family priorities and ongoing philanthropy through his foundations. He emphasized that public service transcends ballots, vowing continued community support from outside the political arena as the June 2026 primary approaches.[1][4][5]

About the People Mentioned

Karen Bass

Karen Bass is a prominent American politician serving as the 43rd mayor of Los Angeles, a position she has held since December 2022. Born on October 3, 1953, in Los Angeles, Bass is notable for being the first woman and the second African American to lead the city as mayor[1][5]. Her career has been marked by a series of historic firsts and a deep commitment to public service, community organizing, and social justice. Bass began her professional life as a nurse and physician assistant, bringing a health-focused perspective to her later political work[1][2]. Her activism took root early; observing the Civil Rights Movement with her father, she was inspired to pursue community-based solutions to systemic challenges[4]. In 1990, she founded the Community Coalition, a South Los Angeles organization that empowers Black and Latino residents to address issues such as substance abuse, poverty, and crime[1][2]. Her political career advanced with her election to the California State Assembly in 2004, where she represented parts of Los Angeles. In 2008, she became the first African American woman to serve as Speaker of the California Assembly, leading the body during the state’s recovery from the Great Recession. For this work, she and her colleagues were awarded the John F. Kennedy Profile in Courage Award[1][2]. Bass served in the U.S. House of Representatives from 2011 to 2022, representing California’s 37th Congressional District. In Congress, she held leadership roles, including Chair of the Congressional Black Caucus (2019–2021), and was recognized for her bipartisan efforts to reform the foster care system through the creation of the Congressional Foster Youth Caucus[3][4]. She also served on key committees, including Foreign Affairs, where she focused on U.S.-Africa relations[3]. As mayor, Bass has prioritized addressing homelessness, and her administration reported a reduction in homelessness in her first year—a notable shift after years of increases[2]. She continues to draw on her background in health care and community organizing to tackle Los Angeles’s most pressing issues. Currently, Bass remains a significant figure in California and national politics, known for her trailblazing roles, policy achievements, and ongoing efforts to improve the lives of Angelenos[1][2][5].

Gavin Newsom

Gavin Christopher Newsom, born October 10, 1967, in San Francisco, California, is an American politician and businessman currently serving as the 40th governor of California since January 2019. Raised in an established San Francisco family and educated at Santa Clara University, where he studied political science, Newsom began his political career in 1996 with an appointment to the San Francisco Board of Supervisors, after serving briefly on the city’s Parking and Traffic Commission. Newsom was elected mayor of San Francisco in 2004, becoming the youngest mayor in over a century. His tenure was notable for progressive initiatives, including directing the city to issue marriage licenses to same-sex couples in 2004, a pioneering move in the national movement for marriage equality. He also launched the Healthy San Francisco program, expanding access to healthcare for uninsured residents. After serving as mayor until 2011, Newsom was elected lieutenant governor of California, holding that office from 2011 to 2019. As governor, Newsom has focused on progressive policy areas such as gun control, criminal justice reform, environmental protection, affordable housing, and universal healthcare access. His administration has prioritized tackling homelessness, improving public safety, and expanding educational opportunities. Notably, he imposed an early moratorium on executions in California and led the state's response to the COVID-19 pandemic, implementing some of the strictest health measures in the country. Newsom survived a recall election in 2021 and was re-elected in 2022, maintaining significant political influence in California. Newsom is also known for his entrepreneurial background, founding the PlumpJack Group, which grew into a substantial hospitality and wine business. He is married to Jennifer Siebel Newsom, and they have four children. Diagnosed with dyslexia in childhood, Newsom has spoken publicly about overcoming learning challenges while pursuing a career in public service[1][2][3][5][6][7].

About the Organizations Mentioned

Steadfast LA

**Steadfast LA** is a private sector-led civic nonprofit founded by real estate developer and former L.A. mayoral candidate **Rick Caruso** to accelerate Los Angeles' recovery from devastating January 2025 wildfires, focusing on communities like Altadena, Malibu, Pacific Palisades, and Pasadena.[1][2][3][4] Launched in early 2025 amid widespread destruction from the Eaton and Palisades Fires, the organization bridges public-private gaps by cutting red tape, mobilizing expert coalitions, and advocating policy changes for faster rebuilding.[1][2][3] Caruso chairs the group, with Najla Kayyem as executive director and Nick Geller as managing director; high-profile members include Netflix CEO Ted Sarandos, Amazon's Mike Hopkins, Banc of California’s Jared Wolff, and J.P. Morgan's Rick Caruso (distinct from the founder).[1][2][3] Key initiatives span **five pillars**: resilient infrastructure, rapid home/business restoration, displaced family support, clear public communication, and long-term disaster safeguards.[2][3] Highlights include a $1 million Banc of California-funded Small Business Initiative offering up to $50,000 grants for fire-hit retailers and restaurants (August 2025); the Modular Housing Initiative partnering with Samara, Airbnb, and others to build 100+ no-cost modular homes for low-income homeowners; and the Expanding Housing Choices program, backed by $15 million from Joe Gebbia (including $5 million initial and $10 million match).[4][7][8] Achievements demonstrate impact: coalition expansion unites business, tech, and civic leaders for urgent solutions, bypassing bureaucracy.[1][2] As a 501(c)(3) via Steadfast LA Foundation, it sustains efforts through philanthropy like Caruso Family Foundation contributions.[4][6][7] Currently active into 2026, Steadfast LA embodies resilient innovation, turning crisis into opportunity with privat

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