Bernie Sanders Proposes $7 Trillion Sovereign Wealth Fund Financed by AI Company Stock Tax

Summary

Sen. Bernie Sanders has unveiled sweeping legislation that would transfer wealth and control from artificial intelligence companies to the American public through a sovereign wealth fund. The proposal, shown first to The Associated Press, would impose a one-time 50% tax on the stock of the largest AI companies that have reached $200 million in annual AI sales, creating a fund Sanders estimates at approximately $7 trillion.

The sovereign wealth fund would function similarly to those used by countries and U.S. states, generating hundreds of billions of dollars annually in direct payments to Americans and funding major social programs including healthcare, education, and housing. Sanders emphasized that "the benefits cannot simply go to the handful of wealthy corporations. They will be shared by the American people." The proposal goes significantly further than recent suggestions from figures like President Trump and OpenAI CEO Sam Altman, who have proposed giving the public a stake in AI—Sanders' plan would require public ownership of half of the largest AI companies.

Crucially, the legislation would grant citizens direct influence over corporate decision-making at major AI firms. Sanders stated that "the 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." This represents one of the most comprehensive attempts to date at translating public interest in AI governance into concrete legislative action.

• The proposal significantly expands on recent stakeholder proposals from Trump and OpenAI's Altman by mandating majority public ownership