Bernie Sanders wants Americans to own half of the nation's largest AI companies

WASHINGTON, DC: Senator Bernie Sanders has unveiled a sweeping new proposal aimed at reshaping who benefits from the artificial intelligence boom, arguing that ordinary Americans should share directly in the wealth being generated by some of the country's most powerful technology companies.

On Monday, June 1, the Vermont politician announced on X (formerly Twitter) that he plans to introduce legislation giving the American public a 50% ownership stake in the largest AI companies in the US.

Sanders framed the proposal as a way to ensure that AI-generated wealth benefits working Americans rather than remaining concentrated in the hands of a small group of tech executives and investors.

Bernie Sanders says AI wealth should benefit all Americans

Announcing the proposal, Sanders wrote, "I will soon be introducing a bill to give the public a 50% ownership stake in the largest AI companies in America."

"This would guarantee that the trillions created by AI are used to improve the lives of all of us — and block oligarch decisions that harm the American people," he added.

Sanders expanded on the idea in a The New York Times opinion piece, outlining what he calls the "American AI Sovereign Wealth Fund Act."

Under the proposal, the government would receive a one-time transfer of stock equal to half the equity of major AI companies.

The senator argues that artificial intelligence systems have been built using enormous amounts of writing, research, art, journalism, code, conversations, and other material created by millions of people over many years.

Because that collective knowledge helped make modern AI possible, Sanders believes the public deserves a share of the financial rewards.

The proposal also fits into his argument that economic power in America has become concentrated among a small number of wealthy individuals and corporations.

By giving the public ownership in AI firms, Sanders says future gains from the technology could be shared more broadly instead of flowing primarily to tech billionaires.

How Bernie Sanders says the plan would work

According to Sanders' proposal, the new fund would not be financed through taxes. Instead, it would be built through a mandated transfer of company stock.

The federal government would hold voting shares in the companies and receive equal representation on their boards.

Sanders says that would give the public a direct voice in major corporate decisions and help prevent actions that could harm American workers or consumers.

Revenue generated through the fund would eventually be distributed to Americans through direct cash payments. As the fund grows, Sanders says proceeds could also support public priorities such as healthcare, education, and housing.

The senator pointed to models such as Norway's sovereign wealth fund and Alaska's Permanent Fund Dividend as examples of how publicly owned investment funds can return benefits to citizens.

AI leaders have floated similar ideas as industry prepares for growth

Sanders noted that elements of the concept have been discussed before within the technology industry itself.

As major AI companies prepare for what could be massive future valuations, some industry leaders have acknowledged concerns about how AI-driven wealth will be distributed.

Sanders pointed to previous discussions around public wealth funds, AI-related economic benefits, and income support programs tied to technological advancement.

At the same time, he acknowledged that the legislation is still being developed and that several questions remain unanswered, including how a public fund would operate if some AI companies continue operating at a loss rather than generating profits.