AP Exclusive: Bernie Sanders unveils plan to give the public direct ownership of AI companies

Senator Bernie Sanders has unveiled a legislative proposal to create a $7 trillion sovereign wealth fund by imposing a one-time 50% tax on the stock of the largest AI companies, transferring ownership to the American public. The fund would be financed through a tax on AI firms exceeding $200 million in annual sales, with proceeds distributed as annual dividends of over $1,000 per American and reinvested in public goods like healthcare, education, and housing. The fund would be overseen by a seven-member independent commission, nominated by the president and confirmed by the Senate, tasked with using its voting shares to block decisions harmful to the public and advocate for policies benefiting Americans. Sanders argues the proposal prevents taxpayer losses even if AI valuations decline, as companies would transfer stock rather than cash. The idea builds on Sanders’ previous calls for a sovereign wealth fund but marks the first legislative attempt to implement it. It aligns with recent discussions among diverse figures, including President Donald Trump, who has suggested government ownership stakes in AI companies, and OpenAI CEO Sam Altman, who proposed a public wealth fund for AI-driven economic growth. Anthropic CEO Dario Amodei has also expressed openness to similar concepts. The proposal targets AI firms with high revenue thresholds, ensuring broad coverage of the industry’s most influential players. Dividends and public investments would be structured to ensure long-term benefits for ordinary Americans, while the commission’s oversight aims to prevent AI-driven harm. Sanders frames the plan as a major step toward preventing corporate monopolies from concentrating wealth and power in the hands of a few billionaires.