As long as they're non-voting shares, I don't see the harm.
I assume not enough politicians in this senator's camp were given their early cut so this is retribution/a lesson to the abstract "Big Tech" to show that DC is still the city that rules the world.
Why non-voting shares? That kind of defeats the point of partial ownership.
If the models were built using the output of all of human effort over time, then society at large should absolutely have a voice in the direction of the companies.
This tech should be made for public benefit, not for purely profit and private interests.
Quite frankly, most companies should be worker co-ops instead, and its long passed time we start moving to that model.