LOS ANGELES (CNS) — Billionaire real estate developer Rick Caruso announced his candidacy for mayor of Los Angeles Friday.

Caruso joins a field of high-profile candidates, including Rep. Karen Bass, City Councilmen Joe Buscaino and Kevin de León and City Attorney Mike Feuer.

His appointment at the City Clerk's Office Friday afternoon followed weeks of speculation that Caruso would run for mayor. 

"I believe in the LA dream — and I know that we can end homelessness, crime, and corruption. But the politicians can't," Caruso said on Twitter after filing. "That's why today I formally began the process of running for Mayor of Los Angeles."

In January, Caruso changed his voter registration to Democrat after almost a decade of being registered with no party preference.

In October, it was reported that Caruso hired a high-profile political consulting firm as he considers another run for mayor of Los Angeles, which is led almost entirely by Democrats.

Caruso, the developer behind The Grove, Palisades Village and other shopping centers, was born in Los Angeles and served as the president of the civilian police commission after being appointed to the commission by Mayor James Hahn in August 2001, as well as on the Board of Water and Power Commissioners. 

Caruso said in January after changing his registration to Democrat that he will be a "pro-centrist, pro-jobs, pro-public safety Democrat."

The primary will be June 7, with the top two finishers meeting in the runoff Nov. 8.