Sanders Proposes AI Firms Cede 50% Equity to U.S. Fund as Trump, Altman Signal Openness
Updated
Updated · The Atlantic · Jul 2
Sanders Proposes AI Firms Cede 50% Equity to U.S. Fund as Trump, Altman Signal Openness
3 articles · Updated · The Atlantic · Jul 2
Summary
Bernie Sanders has introduced the American A.I. Sovereign Wealth Fund Act, which would require AI companies such as OpenAI, Anthropic and xAI to transfer 50% of their equity to a federal sovereign wealth fund.
The proposal aims to spread AI-driven wealth more broadly as automation threatens jobs and stock ownership remains concentrated — the richest 10% of Americans hold about 90% of stocks, while the bottom half owns less than 1%.
Unlike universal basic capital plans built around individual investment accounts, Sanders' model would give the federal government voting rights and board representation at AI companies, with fund returns used for direct public payments and programs.
Sam Altman sought a meeting with Sanders after the plan surfaced, and Donald Trump later said his administration was exploring ways for "pieces" of AI companies to be given to the public, suggesting unusual bipartisan interest.
Critics argue a state-owned AI stake could weaken Washington's role as an independent regulator, invite political favoritism or bailouts, and hand a president broad influence over how powerful AI systems are developed and deployed.
To share AI's wealth, must we give government control over our most powerful technology companies?
Is a massive wealth transfer the right solution for an AI job crisis that may never happen?
Nationalizing AI: The $7 Trillion American Sovereign Wealth Fund Act and Its Bipartisan Impact
Overview
The American AI Sovereign Wealth Fund Act, introduced by Senator Bernie Sanders, proposes a bold shift in the ownership and governance of major AI companies by requiring a one-time 50% equity tax, payable in stock, from the largest firms. This stock would be placed in a public fund managed by an independent commission, giving the public direct influence over corporate decisions. The Act is driven by the belief that the immense wealth generated by AI—often built on the creative work of millions without their consent—should benefit everyone, not just a few, fundamentally changing how AI’s value is shared in society.