Hollywood icon Steven Spielberg becomes the latest billionaire to flee Democrat-controlled California, making a move to the East Coast as voters decide the fate of the 2026 Billionaire Tax Act in November.
(The latest Democrat money-grab would slap a one-time 5% tax on individual fortunes exceeding $1 billion, and would apply retroactively to the beginning of this year if approved.)
“Steven Spielberg and his wife, Kate Capshaw, officially became New York residents on Jan. 1, according to a report by the Los Angeles Times. The couple relocated to the San Remo co-op on Central Park West in Manhattan, which has previously housed celebrities including Bono, Mick Jagger, Warren Beatty and Tiger Woods,” Fox Business reported.
Spielberg’s production company Amblin Entertainment also opened an office in New York City, according to the network.
“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 told the Los Angeles Times.
Google co-founder Sergey Brin opposes the wealth tax and is reportedly funding an effort to prevent its passing in November — average taxpayers overwhelmingly back the tax. With an estimated net worth of $7.1 billion, Spielberg would be on the hook to Gov. Gavin Newsom and his Democrat colleagues to the tune of some $355 million.
Spielberg’s exit was preceded by high-profile billionaires and tech leaders like Elon Musk, Mark Zuckerberg, who is said to be looking for a home in Florida, Larry Ellison, Larry Page, and Peter Thiel, all of whom have left California or significantly reduced their ties to the state, according to Fox News.
Social media users were quick to note that Spielberg helped usher in the politicians who are coming after his wealth, and that he should have to reap his just rewards.
Here’s a quick sampling of responses to the story, as seen on X:
“California may be losing two of the state’s most famed residents and generous political donors … Spielberg, 79, a Hollywood legend, is worth more than $7 billion … He and his wife have donated almost universally to Democratic candidates and causes.” pic.twitter.com/bxKnch0uAd
— Chief Nerd (@TheChiefNerd) February 20, 2026
Playbook:
Destroy your city and state with extremist ideologies.
Reason: Unknown. Delusional? Trouble perceiving reality?
Next: Your irrational policies spread and turn on you and target you specifically.
Final play: Flee to another region and restart the process.
— OSINT Collective (@OsintCollective) February 20, 2026
it’s pretty funny that the party they sunk millions & millions into voluntarily is passing laws now to forcefully take their billions and billions
also pretty funny that they funded candidates that have caused CA to go to shit & they simply pack up and leave the plebs behind
— Brainiac (@brainiac6996) February 20, 2026
Good God – and then they drag all their damn democrat employees with them thus changing the voting in the red areas they flee to. Stupidity! They should be forced to stay where they are – in the crap they created.
— Just Politics (@political_carol) February 20, 2026
What did they think was going to happen? Democrats cannot run States. They only run welfare states. California needs a republican in charge asap before it becomes a deserted state.
— R² (@R2_Reed_Two) February 20, 2026
The problem is that he still donates to democrats and still votes for democrats even though democrat policies made him flee. He cannot accept culpability; it’s always “they didn’t do it right”. Stay in California and reap what you have sewn
— John Bind (@johnbind2) February 20, 2026
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