Steven Spielberg leaves California for New York as wealth tax push spurs political battle
One of the most acclaimed and successful American filmmakers in history has left California for New York.
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.
On the same day that Spielberg reportedly established residency, his production company Amblin Entertainment opened an office in New York City, marking a notable transition away from Hollywood.
Spielberg has owned homes on both the East and West coasts since at least the mid-1990s.
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Speculation around the timing of the move can be linked to a proposed one-time 5% wealth tax on California residents worth $1 billion or more. While it has not yet qualified for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would take effect in 2027, and taxpayers could spread payments over five years, with additional costs, according to the Legislative Analyst’s Office.
If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal.
However, Spielberg’s representative said the move has no connection to the potential tax.
"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," spokesperson Terry Press told the Los Angeles Times.
Press also declined to comment on Spielberg’s position regarding the wealth tax initiative.
If the measure passes, determining who qualifies as a California resident could be complex. The state’s Franchise Tax Board considers multiple factors when evaluating residency, including voter registration, time spent in California, driver’s license issuance, vehicle registration, the location of a spouse and children, and social ties such as religious institutions or country clubs.
It is not publicly known how Spielberg’s relocation would affect any potential exposure should the measure pass, but with a Forbes-estimated net worth of $7.1 billion, he could be expected to pay the Golden State approximately $355 million.
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Spielberg, who was born in Ohio, lived in several states before moving to California and attending California State University, Long Beach, where he later left to take a contract with Universal Studios.
His most impactful films include titles like "Schindler’s List," "Jaws," "Jurassic Park," the "Indiana Jones" franchise, "Saving Private Ryan" and "Catch Me If You Can," among others.