Sanders proposes 50% equity tax on OpenAI, Anthropic, xAI for sovereign wealth fund
In brief
- Sanders introduced American A.I. Sovereign Wealth Fund Act via New York Times op-ed on June 1
- One-time 50% equity tax targets OpenAI, Anthropic, and xAI
- Proceeds establish sovereign wealth fund for direct American citizen AI ownership stakes
- Creates headline risk for AI firms raising capital and negotiating valuations
- Sanders collaborating with Rep. Alexandria Ocasio-Cortez on related AI regulation
Targeting equity, not profits
Rather than taxing corporate profits, which companies are famously creative at minimizing, Sanders is going after equity itself. The distinction matters: equity ownership is harder to obscure or shift across jurisdictions than reported earnings. By taking a direct stake in the firms themselves, the fund would give ordinary Americans a tangible claim on the wealth generated by AI development.
Timing and capital-raising risk
The mere introduction of a bill like this creates headline risk for OpenAI, Anthropic, and xAI at a moment when these firms are actively raising capital and negotiating valuations. OpenAI is undergoing a transition from a nonprofit to a for-profit entity, a process that looks more complicated when a sitting US senator proposes taking half its stock. Anthropic and xAI, both private and both burning through capital on training runs, would face similar valuation headwinds if the proposal gained traction.
Broader regulatory push
This isn't Sanders' first move on AI policy. In 2025, Sanders pushed for a "robot tax" to address AI-related job losses that he projected could reach up to 100 million over a decade. He's also collaborated with Representative Alexandria Ocasio-Cortez on related measures, including a proposed moratorium on AI data center construction. The sovereign wealth fund proposal fits into a larger legislative agenda aimed at distributing AI's wealth and mitigating its labor-market disruption.
The proposal contains no mention of tokens, blockchain, or decentralized technologies, keeping it squarely in traditional regulatory territory.
