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Real estate developer Rick Caruso, a former Republican, spent more than $100 million, most of it his own money, to try to become mayor of Los Angeles. He outspent his opponent by about 11-1. Yet he lost by ten points.
LA Mayor Race: How a Billionaire Businessman Blew $100 Million With 1 Mistake
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Los Angeles mayoral candidate Rick Caruso appears at his election night party in Los Angeles on Nov. 8, 2022. David McNew/Getty Images
By James Breslo
Updated:
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