Developer Rick Caruso will not run for mayor of Los Angeles in 2013.
Developer Rick Caruso ended the speculation on his political future Thursday by announcing that he will not run for mayor of Los Angeles in the 2013 race.
In a statement to reporters, Caruso said that this is not the appropriate time to leave his company, Caruso Affiliated, responsible for The Grove and the Americana at Brand retail and entertainment centers.
“As a lifelong Angeleno, I have dedicated my career to supporting Los Angeles through world class developments, creating jobs and economic benefits and in working with civic and community organizations throughout Los Angeles,” Caruso said.
Caruso declined to make any comment beyond his written statement.
The billionaire developer had the opportunity to shake up a race in which the frontrunners all have long lists of City Hall credentials. Caruso’s candidacy would have also shaken up the financial field. The latest campaign finance reports have Controller Wendy Greuel and Councilman Eric Garcetti virtually tied at $2.8 million each. Councilwoman Jan Perry has $1.3 million in her account, while former talk radio host Kevin James has raised $275,000.
Photos courtesy of candidates' campaigns
Candidates running to be Los Angeles' next mayor, in order from left to right: Wendy Greuel, Kevin James, Jan Perry and Eric Garcetti. Both Wendy Greuel and Eric Garcetti report $2.8 million in their latest campaign reports, according to the Ethics Commission.
Money just keeps rolling in for the 2013 race for mayor of Los Angeles, and it appears hopefuls Controller Wendy Greuel and Councilman Eric Garcetti are staying neck-and-neck when it comes to donations.
In his quarterly campaign finance report, Garcetti reported $2.87 million – about $71,000 more than Greuel. Councilwoman Jan Perry reported $1.3 million, while attorney Kevin James had $275,000 and former aide to Mayor Antonio Villaraigosa, Emanuel Pleitez, had $110,000.
Those figures are for the period ending Sept. 30. Of course, the question hanging over the race is whether billionaire developer Rick Caruso will run for mayor. Caruso has the power to significantly outspend whatever the declared candidates could raise from donors. (It costs an estimated $1.4 million to do a week’s worth of television ads in Los Angeles.)