Posted on 02/19/2026 9:21:04 PM PST by Libloather
Steven Spielberg, phone home!
The legendary “E.T.” director and California resident has moved to Manhattan amid a billionaire exodus from the Golden State — as voters eye a controversial wealth tax.
But the move, first reported by the LA Times, allegedly had nothing to do with the 2026 Billionaire Tax Act.
“Steven’s move to the East Coast is both long-planned and driven purely by his and Kate Capshaw’s desire to be closer to their New York-based children and grandchildren,” spokeswoman Terry Press said.
Press did not answer queries about Spielberg’s stance on the proposed tax, which would slap a one-time 5% tax on individual fortunes exceeding $1 billion.
The tax, if approved by voters in November, would apply retroactively to the beginning of this year.
Proponents argue it will raise tens of billions of dollars to go toward the state’s health care shortfalls, while opponents — including Gavin Newsom — argue it’ll force skinflint billionaires to leave the state.
Google co-founder Sergey Brin wants to kill the tax. He’s funding an effort to build more opponents by appealing to California’s voting masses, who so far overwhelmingly back the tax.
(Excerpt) Read more at nypost.com ...
Family dynamics are probably true since he’s moving to a site that’s heading in the same direction as the one he’s leaving.
Out of the frying pan and into the fire. Can you say stupid?
To manhattan, he did not choose wisely😂
> Spielberg’s so obscenely wealthy he won’t even notice another tax bite.<
Billionaires are not cash wealthy. The fun part will be seeing what they are forced to sell to come up with the tax money.
EC
Knowing how much appearances matter to Hollywood and CA, it’s easy to see how bad it must look when they keep on losing the big names.
California we’re all done
This place ain’t all that much fun...
My first thought as well. I guess he thinks he can afford the wealth taxes and socialism.
Things are really bad in LA when NYC looks like a tax haven.
He's a billionaire, and whatever else is going on, show business is a business.
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