Techno-feudalism and the rise of AGI: A future without economic rights?

I figure if/when AI can do the work of humans we'll deal with it through democracy by voting for a system like UBI or like socialism.

That doesn't work now because we don't have AGIs to do the chores but when we do that changes.

For this to be plausible, you have to explain why the people controlling the AI would share their wealth.

They would either do it voluntarily (and be outcompeted by those who don't?) or be coerced (by who? Someone who doesn't have AI but is more powerful than they are?).