Bernie Sanders Bill Would Seize 50% of Top AI Firms’ Stock
Sen. Bernie Sanders is preparing legislation that would require some of America’s largest artificial intelligence firms to hand over 50% ownership to the federal government, with the value placed into a national investment fund designed to provide financial benefits directly to Americans.
The Vermont senator has named the proposal the American AI Sovereign Wealth Fund Act. Under the plan, companies such as OpenAI, Anthropic, and xAI would be required to transfer a substantial portion of their equity into a government-controlled fund, with future proceeds used for public benefit programs and direct payments to citizens.
Rather than imposing a conventional tax, Sanders is proposing a one-time transfer of company stock. The affected firms would surrender half of their outstanding shares, making the federal government a major owner in each company.
Under the legislation, Washington would gain significant influence over the companies’ operations. In addition to ownership rights, the government would receive voting power and board representation.
The federal government would then receive voting rights and “an equal representation on each company’s board,” which Sanders said would allow it to “block decisions that hurt our citizens and to push for policies that help them.”
Sanders argued that the extraordinary wealth being generated by artificial intelligence should be shared more broadly because the technology itself was developed using knowledge and content created by society as a whole.
“Since AI is built on the collective knowledge of humanity, the wealth it generates must benefit humanity,” he said in a video posted to X, naming Elon Musk, Jeff Bezos, Mark Zuckerberg, and Larry Ellison as beneficiaries of what he called a wealth-extracting machine.
“The time has come to reclaim what was stolen from us.”
The senator portrayed the debate over artificial intelligence as a defining choice about who will shape and profit from the technology’s future.
“The question is not whether AI will change the world. It will,” Sanders said. “The question is, who will own and control that future?”
According to Sanders, the proposed fund could eventually accumulate enormous resources that could be used to support a variety of social programs.
The fund’s proceeds, which Sanders said could reach “billions, if not trillions,” would finance direct cash payments and help guarantee healthcare, education, and housing “as human rights.”
To support his argument, Sanders pointed to existing sovereign wealth funds around the world that use public assets to generate long-term returns for citizens.
Norway’s sovereign wealth fund, financed by oil revenues, now manages assets exceeding $2 trillion. Alaska has also distributed annual payments to residents for decades through a state fund supported by energy revenues.
The proposal comes as President Trump has already instructed federal officials to explore the creation of a national sovereign wealth fund through an executive order.
Sanders also noted that some major AI firms have floated similar concepts. He pointed to OpenAI’s discussion of a “public wealth fund” and Anthropic’s support for sovereign wealth fund structures tied to artificial intelligence investments.
Despite the attention the proposal is likely to generate, its path through Congress appears difficult. Democrats remain in the minority in both the House and Senate, and Sanders has recently struggled to attract support for other AI-related legislation.
His Artificial Intelligence Data Center Moratorium Act, introduced earlier this year, has yet to gain any Senate cosponsors.
Sanders acknowledged that implementing government ownership in companies whose AI divisions represent only part of their overall business operations would present challenges. He said additional details regarding governance, spending priorities, and implementation would be outlined when the legislation is formally introduced.
Industry observers noted that the proposal could have an immediate impact beyond Capitol Hill. OpenAI, Anthropic, and xAI are currently pursuing major fundraising efforts, and analysts said public calls from a sitting U.S. senator to transfer half of their ownership to the government could create uncertainty among investors.
{Matzav.com}
