Steven Spielberg Moves to New York as California Debates Wealth Tax

Steven Spielberg and his wife Kate Capshaw have relocated from California to New York City as the state debates a new tax on the wealthy.The proposed 5% wealth tax on residents with assets over $1B would potentially cost Steven Spielberg $355M annually given his $7.1B net worth.While representatives cite family reasons for the move, his company Amblin Entertainment has opened a New York office as Mark Zuckerberg eyes a $200M Florida estate.