'The time has come to reclaim what was stolen from us'

Bernie Sanders introduces American AI Sovereign Wealth Fund Act proposal

OpenAI, Anthropic, xAI and others could have to pay a one-time 50% tax (in shares)

Trump is also exploring ways to distribute wealth generated in the AI boom

US Senator Bernie Sanders has unveiled plans to introduce an American AI Sovereign Wealth Fund Act in a bid to enable US citizens to benefit from the success of AI companies.

Under the scheme, the public could be granted a direct ownership stake in America's biggest AI firms, as the proposal would impose a one-time tax, paid in company stock and not cash, on major AI firms like OpenAI, Anthropic and xAI.

Because Sanders argues that AI has been built on society's collective knowledge, culture and research, he believes the economic gains should be shared broadly rather than concentrated among just a few leaders.

Sanders says the public should benefit from AI successes

"Since AI is built on the collective knowledge of humanity, the wealth it generated must benefit humanity," he added. "Not just Elon Musk, Jeff Bezos, Mark Zuckerberg, Larry Ellison, and other billionaires."

Sanders' Act proposes that affected companies pay a one-time 50% tax into the pot, which would directly benefit US citizens. But beyond the financial benefits, it would also provide the public with voting rights and influence over company decisions, effectively making the American people co-owners of AI companies.

"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," he said in an X post unveiling plans for the proposed Act.

The proposal is a timely one, with public, government and organizational discussions all taking place around how the wealth generated from the AI boom should be distributed. OpenAI CEO Sam Altman has already engaged in discussions with the Trump administration, and Trump just recently spoke out about investing in AI giants on a government level – though not to the same 50% level that Sanders is proposing.

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For now, this is nothing more than a proposal that would likely attract considerable criticism over its impact on innovation.

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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!