Politics

FLEEING: Hollywood Elite Steven Spielberg ABANDONS California as Socialist Tax Policies Drive Out Billionaires

Gary FranchiFebruary 21, 2026117 views
FLEEING: Hollywood Elite Steven Spielberg ABANDONS California as Socialist Tax Policies Drive Out Billionaires
Photo by Generated on Unsplash

Another day, another billionaire fleeing the socialist paradise that California has become. Hollywood legend Steven Spielberg has officially abandoned the Golden State, relocating to Manhattan's Central Park West as of January 1st, according to the Los Angeles Times.

The move comes as California's radical Democrat politicians double down on their war against success, pushing a billionaire tax that's already driving the state's most productive citizens to greener pastures. And by greener, we mean states that don't punish people for achieving the American Dream.

Spielberg's exodus is just the latest in a growing parade of wealthy Californians saying "enough is enough" to the state's confiscatory tax policies. The director, worth an estimated $4.8 billion, joins a list of high-profile departures that should have every California taxpayer asking: what happens when the people who actually pay the bills pack up and leave?

The Socialist Squeeze Continues

California's political class remains tone-deaf to the economic reality they're creating. While championing rhetoric about how "the billionaire class cannot have it all" and claiming "this nation belongs to all of us," they're systematically driving away the very people who fund their bloated government programs.

Here's the uncomfortable truth Democrats don't want to admit: when you treat successful people like piggy banks to be smashed, they leave. And when they leave, they take their tax revenue, their businesses, and their job-creating investments with them.

Spielberg's move to New York might seem ironic given that state's own tax burden, but it highlights just how toxic California's business climate has become. Even high-tax blue states are looking attractive compared to the Golden State's regulatory nightmare.

This isn't just about billionaires protecting their wealth – it's about the fundamental principle that made America great: rewarding success instead of punishing it. California's leaders seem determined to learn this lesson the hard way, one departed taxpayer at a time.

How many more job creators need to flee before California Democrats realize their socialist experiment is destroying the state that was once the engine of American innovation?

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Gary Franchi

Award-winning journalist covering breaking news, politics & culture for Next News Network.

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FreeMarketFanVerified44 minutes ago
Does anyone know which state he's moving to? I'm betting it's Florida or Texas like all the other smart wealthy folks.
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SunshineStateResidentVerifiedjust now
Probably Florida - no state income tax and DeSantis actually supports business owners.
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PatriotMike47Verifiedjust now
Finally! Someone with sense is getting out before California completely collapses. When even the Hollywood elites can't stand the tax burden, you know it's bad.
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TaxpayerTiredVerifiedjust now
Exactly right. They created this monster and now they're running from it.
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ConservativeCarolVerifiedjust now
My cousin moved his business from LA to Texas last year and says it was the best decision he ever made. Lower taxes, less regulation, and people actually want to work.
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RedStateRealistVerifiedjust now
This is what happens when you elect socialists who think successful people are piggy banks to be broken open whenever they need more money for their failed programs.
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SmallGovAdvocateVerifiedjust now
The irony is rich - Hollywood spent decades pushing left-wing policies and now they're fleeing the consequences. Maybe this will be a wake-up call for regular Californians who can't afford to just pack up and leave.
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CommonSenseVoterVerifiedjust now
Good for Spielberg! Vote with your feet and your wallet.