The legendary “E.T.” director and California resident has moved to Manhattan amid abillionaire exodus from the Golden State— as voters eye acontroversial wealth tax.
But the move,first reportedby 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 willraise tens of billions of dollarsto go toward the state’s health care shortfalls, while opponents — includingGavin Newsom— argue it’ll force skinflint billionaires to leave the state.
Google co-founder Sergey Brin wants to kill the tax. He’sfunding an effortto build more opponents by appealing to California’s voting masses, who so faroverwhelmingly back the tax.
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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 alsospending top dollar in real estateto protect their bottom lines.
Source: California Post – Breaking California News, Photos & Videos
