In 2006, mathematician Clive Humby famously declared that “data is the new oil”. Two decades later, this analogy has never been more relevant—or more urgent for ordinary individuals to understand. As we move through 2026—officially designated as the “Data Element Value Release Year” by policymakers—the question is no longer whether data has value, but rather: who owns that value, and how can you claim your share?
The Hidden Economy You Didn’t Know You Were In
Every day, you generate data. Your morning scroll through social media, the route you drive to work, the products you browse but don’t purchase, even how long you hesitate before clicking—all of it is collected, packaged, and traded on markets you’ve never heard of.
This isn’t a fringe activity. It’s the economic engine of the modern internet. As researchers at Harvard Law School note, “data-driven consumer surveillance and targeted advertising emerged as the economic engine of the internet” decades ago. Yet most people remain unaware that they’re participating in an economy where they are the raw material suppliers—without receiving compensation.
The scale is staggering. The China data element market alone is projected to reach 204.29 billion yuan in 2025, with expectations to exceed 300 billion yuan by 2028. Global figures are multiples larger.
But here’s the critical question: where does that money go?
The Refinery Problem: Why Raw Data Isn’t Enough
The “data is oil” analogy contains a crucial second part that’s often overlooked. As one financial services expert explains: “Like oil, data is valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals, etc. to create a valuable entity that drives profitable activity”.
In the data economy, the “refineries” are the platforms, analytics companies, and AI systems that transform raw behavioral information into actionable intelligence. This refining process creates enormous value—but the original owners of the “crude” (that’s you) typically see none of it.
Professor Hongwei Wang from Tongji University describes this as a three-stage evolution: resource precipitation, asset transformation, and capitalization. Most individuals remain stuck at the first stage—generating data without ever seeing it transformed into an asset they control.
What Is Your Data Actually Worth?
This isn’t an abstract philosophical question. Researchers have been working to quantify it.
A 2024 survey by France’s data protection authority (CNIL) found that 65% of respondents were willing to sell their personal data. Among them, the most common valuation fell between 10 and 30 euros per month. By aggregating supply and demand curves, researchers approximated a market price of around 40 euros per month per subscribed service.
The Generation Lab, a research firm, offered young people an average of $50 monthly to install tracking on their phones—not capturing banking passwords, but monitoring everything from scrolling habits to streaming choices. Before 2019, Facebook reportedly paid teenagers up to $20 monthly for access to their browsing habits.
Different data commands different prices. Phone numbers are cheap—one study found data on US military personnel selling for as little as 12 cents per person. Location data and health information are far more valuable, especially when aggregated into large datasets.
If you’re skeptical that your data has value, consider this: Sam Altman’s Worldcoin offered people approximately $40 worth of tokens simply for allowing their irises to be scanned. Over 12 million people accepted the deal.
The Techno-Feudalism Debate
Some thinkers argue we’ve moved beyond capitalism entirely. Yanis Varoufakis, former Greek finance minister, contends that we now live under “techno-feudalism” —a system where platforms are the new land, data is the new harvest, and users are the new serfs, working without real ownership.
In this framing, Amazon, Google, Meta, and Apple aren’t simply companies that trade. They govern digital territories, collecting rents on attention and behavior while the people generating that value retain no equity.
This isn’t hyperbole. When you lack the ability to control or benefit from the economic value your data creates, you’re not a participant in the market—you’re a resource being extracted.
The Shift Toward Data Rights and Ownership
The good news? The regulatory landscape is finally catching up.
The European Union’s GDPR pioneered consumer control over personal data. In the United States, the California Privacy Rights Act and Virginia Consumer Data Protection Act give residents rights to access, amend, and correct their information. More than a dozen states have now enacted data protection statutes featuring a striking point of uniformity: a newly created right to opt out of data sales.
China has designated 2026 as the year to “release data element value,” with policymakers working to transform data from a technical concept into a strategic practice. The goal: moving from “having data” to “having productive capacity”.
However, scholars warn that data rights regulation can have unintended consequences. Research published in the European Journal of Operational Research found that granting consumers data control rights consistently motivates firms to charge higher product prices. In some cases, consumers may end up paying for privacy protection through increased costs, effectively subsidizing the privacy of others.
From “Opt-Out” to “Opt-In” Economics
The fundamental shift we need is moving from a system where your data is taken by default to one where you actively participate in decisions about its use and benefit from its value.
Currently, even when you “consent,” it’s rarely informed consent. The data sales market remains notoriously opaque. As one commentator noted, “we lack the relevant knowledge to set an accurate price for personal information”.
Some proposals suggest companies should pay “data dividends” to users. California Governor Gavin Newsom has raised this idea. Imagine receiving an annual check from the platforms that profit from your attention and behavior—the way Alaska residents receive dividends from oil revenues.
Others envision personal data markets where individuals can auction access to their information, with prices adjusting based on sensitivity, intended use, and duration.
What You Can Do Now
While the regulatory and technical infrastructure for full data ownership develops, you can take practical steps:
First, understand what you’re trading. Every “free” service has a cost—your data. Ask yourself whether the value you receive equals or exceeds what companies will earn from your information.
Second, exercise existing rights. If you’re in a jurisdiction with data protection laws, use opt-out mechanisms. Yes, they’re often complex by design, but persistence pays.
Third, demand transparency. Support companies and platforms that clearly disclose their data practices and offer meaningful compensation for data access.
Fourth, watch the policy space. The next few years will determine whether data ownership becomes a reality or remains a slogan. Regulatory decisions about data rights, pricing mechanisms, and enforcement will shape whether individuals become genuine participants in the data economy or remain its raw material.
The Bottom Line
Your data is an asset. It has measurable economic value. The question facing society in 2026 and beyond is whether that value will continue flowing exclusively to the platforms and intermediaries that have built fortunes extracting it—or whether individuals will finally claim their share.
As Professor Wang notes, “Consumer Internet enterprises have typical data-native qualities, and the essence of their business model is the commercialization of data value”. It’s time for that commercialization to include the original source.
The transition from “data is the new oil” to “your data, your asset” won’t happen automatically. It requires awareness, advocacy, and action. But the foundation is being laid. The question is whether you’ll be prepared when the opportunity arrives.
