Senator Sanders Proposes 50 Percent Public Ownership Stake in Major Artificial Intelligence Firms
Washington, Tuesday, 2 June 2026.
Senator Sanders’ new bill requires artificial intelligence companies to transfer 50 percent of their ownership shares to a federal fund, distributing industry wealth directly to the American public.
Structuring the American AI Sovereign Wealth Fund
On May 31, 2026, Senator Bernie Sanders, who serves as the ranking member of the Senate Committee on Health, Education, Labor and Pensions, announced his intention to introduce the “American AI Sovereign Wealth Fund Act” [1][2]. The following day, on June 1, 2026, Sanders published an opinion piece in the New York Times detailing the legislative framework [1][3]. Rather than implementing a traditional tax on corporate profits, the bill mandates a one-time, 50 percent equity transfer from major artificial intelligence developers—specifically targeting industry leaders such as OpenAI, Anthropic, and xAI—directly into a newly established federal fund [1][2].
Industry Repercussions Amid Approaching Public Offerings
The timing of this legislative push introduces profound structural risks for the private sector, as several major AI-related entities are preparing to go public later in 2026 [1]. This includes Anthropic, OpenAI, and SpaceX, the latter of which merged with xAI prior to May 2026 [1]. A forced transfer of half of their equity would drastically dilute existing shareholders and alter the capitalization tables of these highly valued firms just as they approach the public markets [GPT]. The legislation explicitly targets the corporate empires led by prominent executives Sam Altman of OpenAI, Dario Amodei of Anthropic, and Elon Musk of xAI [2].
Historical Precedents and Unresolved Complexities
To justify the creation of the American AI Sovereign Wealth Fund, the proposed legislation draws on established domestic and international precedents for public equity vehicles [2]. These include Norway’s massive oil-seeded sovereign wealth fund, which is currently valued at over $2 trillion, and state-level U.S. public pension funds that already manage hundreds of billions of dollars in corporate stock [2]. Additionally, the bill looks to the model of Alaska’s oil-backed dividend fund, which has been paying out annual dividends for approximately 50 years, placing its inception around 1976 [2]. Sanders’ proposal also conceptually aligns with a previous executive order signed by former President Donald Trump that proposed the creation of an American sovereign wealth fund [2].