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One of the most acclaimed and successful American filmmakers in history has left California for New York.
According to a report from the Los Angeles Times, Steven Spielberg and his wife Kate Capshaw officially became residents of New York on January 1. The couple moved into the San Remo co-op on Manhattan’s Central Park West, which was previously home to celebrities such as Bono, Mick Jagger, Warren Beatty and Tiger Woods.
On the same day Spielberg reportedly established a 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 surrounding the timing of the move could be linked to a proposed one-time 5% wealth tax on California residents worth $1 billion or more. Although 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 allow taxpayers to spread payments over five years, with additional costs, according to the Legislative Analyst’s Office.
Steven Spielberg arrives on the red carpet for the Oscars Nominees Luncheon at The Beverly Hilton on Tuesday, February 10, 2026. (Getty Images)
If the measure is approved by voters, anyone living in California on Jan. 1, 2026, would owe the tax under the proposal.
However, Spielberg’s representative said the move is not related to the potential tax.
“Steven’s move to the East Coast has been 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.
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The Press also declined to comment on Spielberg’s position regarding the wealth tax initiative.
If the measure passes, it could be difficult to determine who qualifies as a California resident. The state Franchise Tax Board considers multiple factors when assessing 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 move would affect potential exposure if the measure were to pass, but with a net worth estimated by Forbes at $7.1 billion, he could be expected to pay Golden State about $355 million.
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Born in Ohio, Spielberg lived in several states before moving to California and attending California State University, Long Beach, where he later left to sign a contract with Universal Studios.
His most impactful films include titles such as ‘Schindler’s List’, ‘Jaws’, ‘Jurassic Park’, the ‘Indiana Jones’ franchise, ‘Saving Private Ryan’ and ‘Catch Me If You Can’.
