One billionaire is running for mayor himself. At least 5 others have lined up to stop him.
One billionaire is running for mayor himself. At least 5 others have lined up to stop him. With voters set to cast their ballots in the Los Angeles mayoral primary Tuesday, two candidates have emerged as front runners: former Republican Rick Caruso, a billionaire real estate developer, and Democrat Karen Bass, a social worker who has represented California in the U.S. House of Representatives since 2011. Caruso, who is worth an estimated $4.3 billion according to Forbes, has raised far more money. He self-funded his campaign with $37.5 million in personal loans–single handedly outpacing Bass’ total fundraising haul of $4.7 million, according to Los Angeles County campaign finance records. That has enabled Caruso to flood the traditionally Democratic city with non-stop ads.
