Bernie Sanders proposes public ownership stake in AI giants

TLE DESK: US Senator Bernie Sanders has unveiled a proposal to give Americans a direct ownership stake in major artificial intelligence (AI) companies through a massive public investment fund, arguing that the benefits of the rapidly growing industry should be shared more broadly across society.

According to draft legislation obtained by the Associated Press, Sanders plans to impose a one-time 50 percent tax on the stock of the largest AI companies. Instead of paying cash, affected firms would transfer shares into a sovereign wealth fund that Sanders estimates could be worth nearly $7 trillion.

The Vermont senator said the fund would ensure that ordinary Americans benefit from the enormous wealth being generated by AI technologies.

“The benefits cannot simply go to a handful of wealthy corporations. They will be shared by the American people,” Sanders said.

Under the proposal, the tax would apply to AI companies generating at least $200 million annually from AI-related sales. The transferred shares would be managed by an independent seven-member commission appointed by the president and confirmed by the Senate.

The commission would oversee the fund and exercise shareholder voting rights, allowing the public to influence corporate decisions. Sanders said the body would seek to block actions that harm citizens and promote policies that serve the public interest.

The senator estimates that a five percent annual return from the fund could provide direct payments of more than $1,000 per year to every American, while additional earnings could be used to support healthcare, education and housing programmes.

The proposal comes amid growing debate over AI’s impact on jobs, economic inequality and corporate power. Sanders warned that workers risk losing employment opportunities as automation expands while the financial gains increasingly flow to a small group of technology executives and investors.

Although the plan is expected to face strong opposition from business groups and lawmakers, the idea of giving citizens a stake in AI-driven growth has gained attention in recent months.

US President Donald Trump has suggested that the government could hold ownership interests in AI companies, while OpenAI chief executive Sam Altman has proposed the creation of a public wealth fund that would allow citizens to benefit from the industry’s expansion.

However, Sanders’ proposal goes much further by seeking public ownership of half of the largest AI firms and giving Americans a direct role in corporate governance.

The senator indicated that AI ownership and wealth inequality will become central themes in his political campaign and advocacy efforts ahead of the upcoming US midterm elections.