Rick Caruso won’t run for California governor or LA mayor

LOS ANGELES () — Billionaire developer Rick Caruso announced Friday that he will not run for California governor or Los Angeles mayor.

“After much reflection and many heartfelt conversations with my family, I have decided not to pursue elected office at this time. It was a difficult decision, and I am deeply disappointed to step back from an election that is so critical to California’s future,” Caruso said in a post on social media.

“Though my name will not be on a ballot, my work continues.”

Caruso ran for mayor of L.A. in 2022 when he finished second to Karen Bass.

This is a developing story. This article will continue to be updated as more information becomes available.