Sanders Proposes 50% Public Stake in Largest AI Companies
New legislation would create a $7 trillion sovereign wealth fund, potentially paying Americans annual dividends over $1,000.
Senator Bernie Sanders has introduced the American AI Sovereign Wealth Fund Act, legislation that would impose a one-time 50% tax on the stock of the largest U.S. AI companies to create public ownership through a sovereign wealth fund.
The bill aims to establish a $7 trillion fund based on current valuations, with the potential to distribute annual dividends exceeding $1,000 per American. The proposal targets what Sanders describes as an unprecedented concentration of wealth in the AI sector.
Unprecedented Wealth Creation
The AI industry is experiencing historic wealth accumulation. According to CB Insights, there are currently 498 AI "unicorns"—private companies valued at $1 billion or more—with a combined value of $2.7 trillion.
"Going back over 100 years of data, we have never seen wealth created at this size and speed. It's unprecedented," said Andrew McAfee, principal researcher at MIT.
This concentration of wealth, paired with growing concerns about AI-driven job displacement, has fueled political momentum for redistribution mechanisms.
Public Support
A Verasight poll found that 69% of Americans support requiring AI firms to transfer 50% of their stock to a public fund. The proposal represents a fundamental shift in U.S. corporate ownership and capital distribution, moving away from traditional venture capital dominance toward a socialized ownership model for critical emerging technologies.
Industry Response
Some AI companies have signaled openness to similar arrangements. OpenAI CEO Sam Altman has proposed donating 5% of the company's equity to a U.S. sovereign wealth fund, according to the Financial Times. This suggests potential industry recognition that AI-driven economic gains should benefit broader society rather than a small group of elite investors.
What's at Stake
If implemented, the American AI Sovereign Wealth Fund Act would create a permanent social dividend from automation. The legislation attempts to address growing economic disparity caused by the AI boom while ensuring that the public receives a share of the wealth generated by technologies that may fundamentally reshape the labor market.
The specific model and its feasibility remain subjects of ongoing debate in Congress.