Real estate tycoon Rick Caruso has disclosed the primary reason behind his decision not to pursue a gubernatorial or mayoral bid in California for 2026.

In a conversation with CNN, the businessman—who was defeated by Karen Bass in the 2022 Los Angeles mayoral race—cited family considerations as a significant influence in his decision-making process.

“There isn’t a single reason, but the one that weighed on me the most was considering the impact on my family—whether there is a risk to their well-being,” Caruso explained. During the interview, he expressed his strong support for San Jose Mayor Matt Mahan as a gubernatorial candidate.

Caruso, a billionaire developer, shares his life with his wife, Tina Caruso, and their four children: Alex, Gregory, Justin, and Gianna.

He also noted a shift in the political landscape, describing it as “a lot angrier” than during his previous campaign, yet he remains committed to contributing positively through his work in the private sector.

“My focus was always on creating change, not simply obtaining a position. When I thought about who could effectively lead and win, the answer was clear: Matt [Mahan],” said the 67-year-old Caruso.

Caruso also said he has not yet made up his mind on who to endorse in the LA mayor’s race, adding he worries about the city, especially as more left-leaning candidates like city council member and Democratic Socialist Nithya Raman entered the field.

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

Besides Raman, reality TV star Spencer Pratt and at least 35 other candidates are running to challenge Bass.

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