Tired of robberies, billionaire mall owner considering run for mayor of Los Angeles

LOS ANGELES (BLOOMBERG) - Billionaire real estate developer Rick Caruso is fed up with the way Los Angeles officials are handling crime, homelessness and other issues and that has got him considering a run for mayor.

Mr Caruso has added coiled fencing and armed guards at the Grove, a popular shopping centre he owns. A mob of thieves smashed windows and stole merchandise from its Nordstrom department store last month. The incident was part of a spree of large-scale "smash-and-grab" robberies that are hitting upscale stores across California and other states.

Three suspects were arrested, charged and released without bail, which Mr Caruso said was a lax outcome that is contributing to rising crime rates and growing distrust of public officials.

Mr Caruso, a former president of the Los Angeles Police Commission, has criticised a state law approved by voters, known as Proposition 47, that reduced sentences for some non-violent crimes.

"We've emboldened the criminals," he said. "They get arrested and get let out. It sends a message there's no consequences."

Crime has become a growing concern for United States mayors as homicides, theft, drug dealing and general lawlessness seem increasingly out of control.

New Yorkers elected former New York City Police Department captain Eric Adams as mayor last month. California Governor Gavin Newsom on Friday (Dec 17) unveiled a US$250 million (S$342 million) plan to combat retail theft, including funds to prosecute the criminals and to help small businesses repair the damage from break-ins.

While Mr Caruso would bring his business acumen to the race, he would compete as a wealthy white man in a city where minorities are the majority of the population. His opponents include US Representative Karen Bass, a black woman, and Latino city councilman Kevin De Leon.

Mr Caruso said he will decide whether to run after looking over more polling data and research that he has hired advisers to collect. The election to replace Mr Eric Garcetti, who had his Senate confirmation hearing this week to become US Ambassador to India, is scheduled to take place on Nov 8, 2022.

"I don't leave things to chance," said Mr Caruso, dressed in a tailored suit, a monogrammed white shirt with French cuffs and a perfectly knotted necktie.

The LA Mayor's office is non-partisan. Mr Caruso has made campaign donations to Republicans and Democrats, including Newsom and former state attorney-general Xavier Becerra, according to California Secretary of State records and OpenSecrets.org.

Business is booming at the Grove, which plays to its strengths as an open-air mall in sunny LA. Consumers are coming back to stores, undeterred by county rules requiring them to wear masks to enter shops and to have proof of vaccination at restaurants.

"As a company, we're having our best year ever by a very wide margin," said Mr Caruso, 62.