Legendary director Steven Spielberg is latest billionaire to flee California in another blow to state

https://nypost.com/2026/02/19/us-news/legendary-director-steven-spielberg-
is-the-latest-billionaire-to-flee-california-in-another-blow-to-state/

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.

Brin’s group, Building a Better California, has raised $35 million in its 
effort to protect billionaires from the tax man.

At the same time, he, other billionaires and tech titans are preemptively 
moving out of California — and also spending top dollar in real estate to 
protect their bottom lines.

Brin is shopping for a Miami home, as is his fellow Google co-founder 
Larry Page.

Facebook founder Mark Zuckerberg, another longtime California denizen, is 
also shopping for a Florida home, reports say.

Zuckerberg’s politics are slightly more fluid than those of Spielberg, a 
true-blue Democrat who is one of the party’s most prominent fundraisers 
and donors.

Other prominent lefties have championed it — including independent 
socialist Vermont Sen. Bernie Sanders, who held a raucous Wednesday rally 
in Los Angeles to drum up support.

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“Starting right here in California these billionaires are going to learn 
we are still living in a democratic society where the people have the 
power,” Sanders told the crowd.

“Never before in American history have we seen the kind of greed, 
arrogance and moral turpitude.”

California Republicans have raised alarms that the tax on billionaires 
will lay the groundwork for future levies on the less well-to-do, 
especially if the mega-wealthy flee and shrink the tax base.

“So, they are saying it’s just for billionaires,” said Rep. Kevin Kiley 
(R-California), who has introduced a congressional bill to prohibit 
retroactive taxes.

“But of course it starts with billionaires and then they continue to lower 
the threshold, ensnaring more and more people.”


-- 
November 5, 2024 - Congratulations President Donald Trump.  We look 
forward to America being great again.

We live in a time where intelligent people are being silenced so that 
stupid people won't be offended.

Every day is an IQ test. Some pass, some, not so much.

Thank you for cleaning up the disasters of the 2008-2017, 2020-2024 Obama 
/ Biden / Harris fiascos, President Trump.

Under Barack Obama's leadership, the United States of America became the 
The World According To Garp.  Obama sold out heterosexuals for Hollywood 
queer liberal democrat donors.