Billionaire John Caruso joined a large field of Democrat candidates to run for mayor of Los Angeles when he filed paperwork to become a candidate in recent days.
Rep. Karen Bass (D-CA) currently leads the field of candidates for the important race.
Caruso used to be a Republican, but switched to no party affiliation in 2011. In January, he switched to Democrat.
He is mainly known for high-end shopping malls and philanthropic donations to Catholic schools and other charities.
Forbes said he is worth $4.3 billion.
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