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AP Exclusive: Bernie Sanders unveils plan to give the public direct ownership of AI companies
WKMG • • business
Key Points:
- Senator Bernie Sanders is proposing legislation to create a $7 trillion sovereign wealth fund financed by a one-time 50% tax on the stock of the largest AI companies, aiming to transfer wealth and power from AI firms to the American public.
- The fund would make the public a major shareholder in these companies, managed by an independent commission with authority to influence corporate decisions and ensure AI benefits ordinary people.
- Sanders’ plan includes providing direct payments of over $1,000 annually to every American through a 5% dividend from the fund, with additional revenues supporting public goods like education, health care, and housing.
- The proposal is more aggressive than similar ideas from figures like President Trump and OpenAI CEO Sam Altman, who have expressed interest in public stakes but on a much smaller scale.
- Sanders plans to make AI ownership and wealth inequality key issues in his political messaging, reflecting growing public concern about AI’s impact on jobs and economic inequality.
