Bernie Sanders Proposes 50% Equity Seizure of Major AI Firms

Senator Bernie Sanders announced plans between June 1 and June 5, 2026, to introduce the American AI Sovereign Wealth Fund Act. The legislation would require the largest artificial intelligence companies—specifically OpenAI, Anthropic, and xAI—to transfer 50% of their equity to a federally managed sovereign wealth fund through a one-time ownership tax. Sanders argues that because AI is trained on the collective knowledge and labor of humanity, the resulting wealth should benefit the general public rather than a few billionaires.

Modeled after Norway's sovereign wealth fund and Alaska's Permanent Fund Dividend, the proposed fund would provide direct cash payments to citizens and finance public goods such as healthcare, education, and housing. To prevent corporate decisions that harm the public, the bill would grant the federal government voting shares and equal board representation at the targeted companies. The proposal drew on academic research from law professors Jeremy Bearer-Friend and Sarah Polcz.

While OpenAI and Anthropic have previously suggested public wealth funds to address automation, they have not supported mandatory government transfers. Critics have denounced the plan as socialist theft and a violation of the Fifth Amendment's takings clause. The proposal coincides with other collectivist initiatives, including New York City Mayor Zohran Mamdani's 'Block by Block' housing plan and a reported rise in support for democratic socialism among Gen Z voters.