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Steven Spielberg Flees California Amid Raging Wealth Tax Battle
Politicszerohedge1mo ago

Steven Spielberg Flees California Amid Raging Wealth Tax Battle

Steven Spielberg Flees California Amid Raging Wealth Tax Battle Another day, another rich liberal leaving a state over policies they promoted.  In today's episode of modern hypocrisy, Steven Spielberg, director of blockbuster hits like Jaws, E.T., Poltergeist and Saving Private Ryan, has moved to Manhattan, according to the Los Angeles Times. A spokesperson for one of Hollywood’s most reliable Democrat Party donors was quick to insist the relocation has nothing to do with California’s highly controversial wealth tax proposal. “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 newspaper. Unsurprisingly, Press declined to say where Spielberg stands on the wealth tax when asked. California is now seriously considering a new wealth tax targeting billionaires, including a levy on unrealized gains. The idea has already spooked investors and contributed to several high-profile tech figures running for the exits. It’s a familiar pattern when progressive policies finally start to bite, a surprising number of billionaires discover a sudden deep affection for Florida, Texas, or even New York. Google founders Larry Page and Sergey Brin quietly began unwinding portions of their financial empires in California in the days leading up to Christmas, while Meta founder and CEO Mark Zuckerberg dropped $150 million on a Miami mansion. Zuckerberg and his wife, Priscilla Chan had been looking for a home on Indian Creek Island, the ultra-exclusive, heavily guarded enclave nicknamed “Billionaire Bunker” that is already home to Amazon founder Jeff Bezos, former NFL star quarterback Tom Brady, and Jared Kushner and Ivanka Trump. Even Jeffrey Epstein pal Reid Hoffman, LinkedIn co-founder and major Democratic donor, has taken aim at the billionaire tax proposal, slamming it as a "horrendous idea" that could drive tech founders and executives out of the state. Rep. Khanna reached out to me to discuss the proposed California wealth tax; and while I am against the proposed tax, I'm always open to dialogue with our elected leaders. The proposed CA wealth tax is badly designed in so many ways that a simple social post cannot cover all of… January 7, 2026 "The proposed CA wealth tax is badly designed in so many ways that a simple social post cannot cover all of the massive flaws. One well-documented example is the horrendous idea to tax illiquid stock in the proposal. Poorly designed taxes incentivize avoidance, capital flight, and distortions that ultimately raise less revenue," Hoffman said of the plan. Hedge fund billionaire Bill Ackman, a longtime Democrat who voted for Trump in the 2024 election, warned that California is on a "path to self-destruction." California is on a path to self-destruction. Hollywood is already toast and now the most productive entrepreneurs will leave taking their tax revenues and job creation elsewhere. And then the Democrats highlight @CAgovernor Newsom as a great leader. Crazy. https://t.co/bFyLhARrNn December 27, 2025 "Hollywood is already toast, and now the most productive entrepreneurs will leave, taking their tax revenues and job creation elsewhere,” Ackman said. Our readers will recall that Tesla and SpaceX Ceo Elon Musk was one of the first big names to leave California years ago, citing the state’s punishing taxes and its embrace of radical left-wing governance. The list keeps growing. Buckle up, Newsom. Musk was the first and Spielberg won’t be the last. Tyler Durden Fri, 02/20/2026 - 16:40

Bill Ackman Identifies "Stupidly Cheap" High-Quality Stocks
BusinessYahoo9d ago

Bill Ackman Identifies "Stupidly Cheap" High-Quality Stocks

Billionaire investor Bill Ackman has stated that some high-quality stocks are currently "stupidly cheap," suggesting that their discounted prices could offer returns up to ten times their current value. His comments highlight potential investment opportunities in the market.

Dow and Nasdaq End Fifth-Straight Losing Week in Correction Amid Market Slump
Businesswsjcnbcmarketwatch+3forbesYahooseeking-alpha13d ago6 sources

Dow and Nasdaq End Fifth-Straight Losing Week in Correction Amid Market Slump

Technology and social media stocks have experienced their worst week in nearly a year, with Snap hitting a new 52-week low and Meta Platforms among the most oversold, as both the Nasdaq and Dow officially end their fifth-straight losing week in correction territory amid war concerns and a chip selloff.

‘No one saw this coming’: will the surprise Telegraph winner change the paper’s direction?
BusinessThe Guardian27d ago

‘No one saw this coming’: will the surprise Telegraph winner change the paper’s direction?

Daily Mail owner could take long-term hit after being gazumped at the 11th hour by Germany’s Axel Springer The day after Lord Rothermere was gazumped in his pursuit of the Telegraph by Axel Springer’s £575m knockout offer, the Daily Mail owner was pictured beaming at Rupert Murdoch’s 95th birthday party in New York. As guests at the star-studded black tie celebration at The Grill in Manhattan listened to Hollywood actor Hugh Jackman sing numbers such as Fly Me to the Moon, the 58-year-old med...

Bill Ackman's Pershing Square Files for US IPO
FinanceReutersFTcnbc+3Business InsiderYahooseeking-alpha1mo ago6 sources

Bill Ackman's Pershing Square Files for US IPO

Bill Ackman's hedge fund, Pershing Square, has filed for an initial public offering (IPO) in the United States, with further details emerging on its structure, leverage, permanent capital, and the inclusion of HHH.

Which Ramadan greeting is correct? Understanding meaning of ‘Ramadan Mubarak’ and ‘Ramadan Kareem’
CulturewsjThe GuardianTimes of India+1Daily Sabah1mo ago4 sources

Which Ramadan greeting is correct? Understanding meaning of ‘Ramadan Mubarak’ and ‘Ramadan Kareem’

As Ramadan 2026 approaches, understanding greetings like 'Ramadan Mubarak' (Blessed Ramadan) and 'Ramadan Kareem' (Generous Ramadan) enhances cultural appreciation. While both are widely accepted globally, 'Kareem' resonates particularly in the Gulf's hospitable culture. Respectful wishes, regardless of the phrase, foster connection during this spiritual month.

Veteran Actor James Tolkan, Known for 'Back to the Future' and 'Top Gun,' Dies at 94
Culturela-repubblicarzeczpospolitatvn24+14vgmorgunbladidjutarnji-listvarietyhindustan-timeshollywood-reporterdeadlinerolling-stone+6 more14d ago17 sources

Veteran Actor James Tolkan, Known for 'Back to the Future' and 'Top Gun,' Dies at 94

Veteran actor James Tolkan, known for his memorable roles as Mr. Strickland in the 'Back to the Future' trilogy and 'Stinger' in 'Top Gun,' has died peacefully at 94, with multiple international sources confirming his passing and highlighting his extensive TV career.

Hedge Fund 13F Filings Reveal Investment Shifts
Financewsjcnbcseeking-alpha1mo ago3 sources

Hedge Fund 13F Filings Reveal Investment Shifts

Recent 13F filings show notable investment moves by prominent hedge fund managers, including Druckenmiller's interest in Brazil, Tepper's liking for EWY, and Berkshire Hathaway's new stake in The New York Times.