L.A. billionaire Rick Caruso says he won't run for mayor Los Angeles businessman Rick Caruso, developer of the Grove and Americana at Brand shopping malls, in 2008. Alex Gallardo / Los Angeles Times By Kate Linthicum October 11, 2012, 6:27 p.m. Billionaire shopping mall developer Rick Caruso is staying out of the Los Angeles mayoral race, he said in a statement released Thursday. "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. I look forward to continuing to contribute to our city by focusing on endeavors that enrich the lives of the people in this city. A former city commissioner and the developer behind the Grove and the Americana at Brand shopping centers, Caruso had been flirting with a mayoral run for months, even hiring a team of political consultants to help him decide. Interest in his intentions intensified after another potential front-runner, Los Angeles County Supervisor Zev Yaroslavsky, announced this summer that he was staying out of the race. Caruso's entrance would have shaken up a field of candidates dominated by three veteran Democratic elected leaders -- City Controller Wendy Greuel and City Councilmembers Eric Garcetti and Jan Perry -- particularly if he had drawn on his estimated $2-billion personal fortune to finance a campaign. This is not the first time Caruso has flirted with a run and then decided not to go through with it. He also considered running against Antonio Villaraigosa in 2009 -- and then decided not to.