{"id":15847,"date":"2026-06-17T22:02:10","date_gmt":"2026-06-17T22:02:10","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=15847"},"modified":"2026-06-17T22:02:10","modified_gmt":"2026-06-17T22:02:10","slug":"bernie-sanders-unveils-plan-to-give-the-public-direct-ownership-of-ai-companies","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=15847","title":{"rendered":"Bernie Sanders unveils plan to give the public direct ownership of AI companies"},"content":{"rendered":"
\n

By JOEY CAPPELLETTI<\/strong><\/p>\n

WASHINGTON (AP) \u2014 As artificial intelligence companies reshape the economy and race toward trillion-dollar valuations, Sen. Bernie Sanders is proposing a sweeping transfer of wealth and power from the industry to the American public.<\/p>\n

Read more Eastern Washington wildfire forces evacuations and destroys homes<\/a><\/p>\n

The legislation, shown first to The Associated Press, would create a sovereign wealth fund overseen by an independent commission and financed through a one-time 50% tax on the stock of the largest AI companies. Sanders estimates that the tax would create a nearly $7 trillion fund that would generate hundreds of billions of dollars annually in direct payments to Americans and programs such as health care, education and housing.<\/p>\n

\u201cThe benefits cannot simply go to the handful of wealthy corporations. They will be shared by the American people,\u201d the independent Vermont senator said in an interview Wednesday.<\/p>\n

The idea of giving the public a stake in AI has recently drawn interest from figures as ideologically diverse as President Donald Trump and OpenAI CEO Sam Altman. But Sanders\u2019 proposal goes much further, calling for public ownership of half of the largest AI companies and direct influence over corporate decision-making.<\/p>\n

\u201cThe public has got to have a significant seat at the table to make sure that terrible things do not happen to ordinary people, and that in fact, AI benefits ordinary people, not hurts them,\u201d Sanders said.<\/p>\n

How the fund would work<\/h4>\n

Sanders has previously proposed the sovereign wealth fund, but the bill summary obtained by the AP is the first legislative attempt to make it a reality.<\/p>\n

The 50% tax would apply to AI companies that reach $200 million in annual AI sales. Any new AI company that reaches that benchmark would also be subject to the tax.<\/p>\n

\n<\/div>\n

It would create a sovereign wealth fund \u2014 similar to those used by countries around the world and some U.S. states \u2014 that Sanders estimates would be worth around $7 trillion.<\/p>\n

Unlike a traditional tax, the proposal would require companies to transfer stock rather than cash, effectively making the American public a major shareholder in the country\u2019s largest AI firms.<\/p>\n

A seven-person independent commission \u2014 nominated by the president and confirmed by the Senate \u2014 would manage the fund and use its voting shares \u201cto block decisions that hurt the American people and to push for policies that help them,\u201d the bill summary says.<\/p>\n

Sanders proposes that a 5% annual dividend from the fund would provide direct payments of more than $1,000 to every American. If companies grow, the gains would be used for public goods such as education, housing and health care.<\/p>\n

\n<\/div>\n

Sanders argues taxpayers would not bear the losses if AI company valuations decline.<\/p>\n

\u201cWe\u2019re not going to lose any money, even if there is a bust in the bubble,\u201d Sanders said.<\/p>\n

The commission would be directed to \u201cto block decisions that hurt the American people and to push for policies that help them,\u201d according to the summary.<\/p>\n

Sanders emphasized that the proposal is just a start.<\/p>\n

\u201cWe think this is the best that we could do at the moment, and it\u2019s certainly a major, major, major step forward from giving unilateral and total power to a handful of multi-billionaires,\u201d Sanders said.<\/p>\n

Read more Trump has nothing but praise for Modi at G7 after tensions over US military strike, trade<\/a><\/p>\n

The idea has supporters in the White House and Silicon Valley<\/h4>\n

Sanders is not alone in pushing for a public stake in the companies that develop AI.<\/p>\n

Trump, who recently signed an order to have new AI models voluntarily vetted by the government, has also mused about the government owning a stake in the companies that develop AI, saying \u201cthere\u2019s something very interesting about it, where it almost becomes a partnership with the American public.\u201d<\/p>\n

OpenAI \u2014 led by Altman \u2014 in April proposed to \u201ccreate a public wealth fund that provides every citizen \u2014 including those not invested in financial markets \u2014 with a stake in AI-driven economic growth.\u201d<\/p>\n

Anthropic, one of OpenAI\u2019s top competitors and recently valued at $965 billion, has been open to similar ideas, with CEO Dario Amodei writing recently that \u201cuniversal basic income could be financed through taxes on relevant companies.\u201d<\/p>\n

Trump on Wednesday attended a session focused on AI at the G7 summit in France with top industry leaders, including Altman and Amodei.<\/p>\n

Still, Sanders\u2019 push is much more aggressive than any of these. In Sanders\u2019 meeting with Altman, they remained far apart on how large of a stake the public would get, according to those in the room.<\/p>\n

\u201cI think people like Sam Altman and Trump (who) may be sympathetic to this are saying: \u2018Okay, look, we\u2019re making zillions of dollars so we\u2019re going to be nice guys and maybe we\u2019ll buy off the public. We will give 5% of our profits back into the government,\u2019\u201d said Sanders.<\/p>\n

\u201cThat\u2019s not what we\u2019re talking about. What we\u2019re talking about are two very different things.\u201d<\/p>\n

Taking the fight to voters<\/h4>\n

Sanders\u2019 \u201cFighting Oligarchy\u201d tour drew massive crowds across the country last year as he appeared with high-profile lawmakers such as Rep. Alexandria Ocasio-Cortez, D-N.Y. Asked whether he plans to make AI ownership and wealth inequality part of that message on the campaign trail, Sanders responded, \u201cAbsolutely.\u201d<\/p>\n

It\u2019s a message other candidates are using ahead of the midterms as they tap into voters\u2019 angst about the technology. Michigan Democratic Senate candidate Mallory McMorrow unveiled a plan to \u201cprotect workers in the age of AI,\u201d while New York Democratic House candidate Alex Bores has also made AI regulation a campaign issue.<\/p>\n

Data center projects across the country have drawn opposition from residents concerned about electricity demand, water consumption and environmental impacts. Some states once eager to attract the facilities, including Ohio and Virginia, have moved to reconsider tax incentives.<\/p>\n

On college campuses, commencement speakers have been interrupted by boos when discussing artificial intelligence. About 70% of college students see AI as a threat to their job prospects, according to a 2025 poll by the Institute of Politics at the Harvard Kennedy School.<\/p>\n

\u201cWorkers will be thrown out of their jobs while billionaires, multi-billionaires become even richer,\u201d Sanders said. \u201cThe American people are aware of that and don\u2019t want to see it happen.\u201d<\/p>\n

Read more California fires back at AT&T\u2019s bid to get feds to let it stop providing landline service<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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