Why Caruso Shouldn’t Be Mayor
Just another billionaire who doesn’t care
As someone who grew up in Thousand Oaks, and recently moved back and has been attending local city council meetings, I can already tell what kind of mayor Rick Caruso would be.
While some might not recognize his name, likely they’ve been to one of his properties: The Grove, The Lakes, The Americana. During the holidays in these outdoor malls it snows bubbles, pipes in soothing music through fake rocks, and provides a cozy vibe to shop and stroll. It’s nice. But what does that mean for someone wanting to cross into civic duty?
Caruso is someone who came from money and went on to become even wealthier. He’s now worth $4.3 billion.
$4,300,000,000… that’s a number so challenging to conceptualize that people have created games like this or this to see how they could spend like a multi-billionaire. It’s a number that doesn’t even fit on my phone’s calendar. It works out to something more than… what? $223,958 per day?
During the pandemic, Caruso had a development deal to build an unprecedented 7-story apartment building in T.O., a feature he knew wouldn’t get approved. This gave him the leverage to settle for a 4-story building, still the tallest in history for the small town of Thousand Oaks. While the building height isn’t too much of a concern, other than perhaps changing the landscape of suburbia to city, it raises questions of affordability.
Of the 165 units, 0 are affordable housing units and will be rented at market rates, though we are facing a housing crisis. In T.O. alone, there’s a 48% increase in people who are house insecure. In Los Angeles, where Caruso hopes to lead, 66,436 people in Los Angeles County are experiencing homelessness from a 2020 count, a 12.7% rise since 2019. Driving through the city, it’s heartbreakingly apparent just how much the pandemic impacted people’s income and housing needs. Homeless encampments are on most freeway underpasses. Safe housing is a human right, and is vital to the well-being of adults and children alike, particularly the elderly who are being forced out of their homes.
Prior to this, in 2005 Caruso got an incredible leasing deal on the T.O. Lakes for only $2 million, with terms that he would pay 0% interest until he received 12.5% in returns. This has not been met. Essentially, he’s been leasing this for free, making him even richer. He’s said before he got his start in Thousand Oaks; his roots or something to that effect though he doesn’t seem keen on giving back to his community. Considering this, and his status as a billionaire, it doesn’t sit right with me that he’s running as a public servant.
The starting salary for teachers in this area is about $50,000. An apartment at market value here starts at $2,500+/month or about $30,000 a year. With bills, ever-increasing living expenses including gas prices, and student debt, this is not realistic.
The working class — teachers, restaurant workers, caregivers— that keeps cities going cannot afford to live in places that billionaire developers push out locals in order to provide. Having Caruso as mayor would be detrimental for the city of Los Angeles. He’s already pumped millions of dollars into his campaign. Money that could perhaps better be used to address the housing crisis, the drought crisis, the underemployment, the baby formula shortage, or or or…
Giving more power to the wealthy won’t change things for the better.
With smug celebrities like Gwyneth Paltrow hosting fundraisers and Kim Kardashian attending in support, it’s likely he’ll win. He has access to unlimited funds and astounding cultural capital. But it’s easy to see he won’t be putting the working or middle class first. Surrounded by the wealthy, does he have empathy for issues that don’t impact him and his friends? I can’t help but think back to that time Gwyneth tried to live on food stamps for 1 week and she couldn’t do it. Did she learn anything from it other than recognize her privilege? No. Instead, she’s still selling $75 candles and getting $5,240 vampire facials. But I digress yet again.
This isn’t an eat-the-rich piece though that can be fun sometimes. There’s nothing wrong with making money, wanting to make money, or being rich and enjoying life. There are wealthy people who consistently utilize their money for good, and not just for PR. Caruso isn’t one of them.
