Encino Entrepreneur Announces LA Mayoral Run

ENCINO, CA — Encino entrepreneur Ramit Varma, who co-founded the online tutoring firm Revolution Prep, has thrown his hat into the Los Angeles mayor’s race.

Varma, 46, rented out the Banc of California Stadium Wednesday night to announce that he will join the crowded race, which already includes Councilmembers Joe Buscaino and Kevin de Léon, Rep. Karen Bass, and City Attorney Mike Feuer.

Varma told the crowd of around 400 that his main priorities are ending homelessness and reducing poverty by building affordable housing and a “city of the future - right now.”

Varma criticized the “political machine” at City Hall for not building more housing in the city under Proposition HHH, the $1.2 billion bond measure passed by voters in 2016 for the purpose of building more affordable housing.

Varma also pledged $1 million of his own money to his campaign.

As the field to succeed Mayor Eric Garcetti widens, Los Angeles Magazine reported Wednesday that real estate mogul and billionaire Rick Caruso – the developer behind The Grove, Palisades Village, and other shopping centers – hired Bearstar Strategies, a political strategy firm that has worked for Kamala Harris’ senate campaign, Newsom’s gubernatorial campaign, and Katie Porter’s congressional campaign. A spokesperson for Caruso told the magazine that he is “seriously considering a run for mayor.”