Based on his belief that benefits of artificial intelligence should not be limited to “oligarchs and tech billionaires”, senator Bernie Sanders unveiled his plans for a legislation to introduce 50% public ownership stake in major AI companies.
According to Sanders, the proposed legislation “American AI Sovereign Wealth Fund Act” would impose a one-time 50 percent tax on major AI companies, with funds used for public ownership in AI, funding direct economic assistance to Americans and funding much-needed public services such as healthcare and education.
Sanders states that current AI technologies are developed from vast amounts of public resources (books, artistic works, journalism, scientific research, computer code, videos, and online conversations).
In a video statement posted on X, Sanders said artificial intelligence may be the most transformative technology in human history, with the potential to reshape economies, education, health care, democracy and daily life.
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. pic.twitter.com/y3ERWOsRfs
— Bernie Sanders (@BernieSanders) June 2, 2026
“The question is not whether AI will change the world, it will. The question is who will control and own that future, who will benefit from it and who will be hurt by it. Will AI be used to make lives better for working families?..”The wealth generated by AI must be shared by all people across the globe—not just a limited number of trillionaires or billionaires,” stated Sanders.
Sanders then highlighted Norway’s Sovereign Wealth Fund, which manages oil revenue, and Alaska’s Dividend Plan, made possible from State Oil revenues (paid to citizens) as examples of how public wealth is created from industries that exploit major resources.
Sanders went on to say that many of the leaders in the AI industry (executives from OpenAI and Anthropic) are supporting the concept of public wealth funds and a more equitable distribution of the economic gains that will be generated through AI technologies.
According to the proposed legislation there is likely to be an intense debate regarding who owns AI, how AI should be taxed, what innovations will be developed because of AI, and how AI should be governed in the US.
Also Read: “What will AI do to American Workers”, asks Sanders as Meta Lays Off 10% Workforce
