The Alaska Permanent Fund, the state’s constitutionally protected savings account built on oil revenues and investments, has hit another record, topping $84.2 billion as of Friday — the second time this month it has set an all-time high.
According to the Alaska Permanent Fund Corporation, the fund closed at $84,249,900,000 on June 27. That’s nearly $1 billion higher than its previous high of $83.3 billion recorded earlier this month, and more than $2 billion above the former record of $82.1 billion set back in December 2021.
The latest milestone comes amid a broad rally on Wall Street. On Friday, the S&P 500 closed at a record 6,173.07, its highest level since February, gaining 0.5% on the day. The Nasdaq Composite also reached a new peak, driven by gains in the tech sector, particularly in artificial intelligence-related stocks. The Dow Jones Industrial Average climbed 432 points, or 1%, posting its best weekly performance in six weeks despite some drag from healthcare sector losses.
The correlation between the booming stock market and the Permanent Fund’s performance is no coincidence. The Fund’s diversified portfolio includes public equities, which rise and fall with market indices like the S&P and Nasdaq. With tech stocks soaring and investor optimism high, the Fund has been a direct beneficiary of Wall Street’s resurgence.
The Alaska Permanent Fund was created by constitutional amendment in 1976, when voters approved setting aside a portion of oil revenues to benefit current and future generations. Specifically, 25% of all mineral lease rentals, royalties, and related income must be deposited into the Fund. The principal is protected and invested to generate returns, while earnings are used for public benefit, including the annual Permanent Fund dividend to eligible Alaskans.
In a state reliant on finite oil and gas resources, the Fund represents a renewable financial engine, ensuring long-term fiscal stability and economic resilience. The fund is widely seen not just as a fiscal tool, but as a cultural symbol of Alaskan self-reliance and stewardship.
With the U.S. economy showing signs of strength and investor confidence on the rise, the Permanent Fund may continue to grow, depending on market conditions and investment performance, as well as market volatility, inflation, and global economic uncertainty, which can quickly reverse gains.
For now, Alaskans can celebrate a new high-water mark in the history of the Fund, one that speaks to the enduring power of saving and investing in boom times.
when we elected trump the libs said the stock market would crash. They then Said the tariffs would drive prices up and destroy our economy. Well neither has happened. As I expected the drama queen dems are wrong yet again.
Imagine we don’t have 1 safe road in Alaska and yet we have $84 billion in an investment account, but by god a bunch of people got nice Walmart tv sets and the best cell phones a dividend check can buy. We need to tap the sob and build our infrastructure. The money would come back to us 10 fold.
“……..Imagine we don’t have 1 safe road in Alaska………”
While I agree that Alaska needs more and better roads, I must wonder how long you’ve been driving up here. I remember the Glenn Hwy between here and Glennallen and the Seward Hwy to Seward. How about no Parks Hwy? Roads up here have improved dramatically, although we certainly have a long way to go in some sections currently high on the priority lists, like the Glenn Hwy between Sutton and Glacier View or the Sterling Hwy in Cooper Landing (currently being built). Think how much roadway $21 billion+ (along with matching-and-more federal highway funding) that was wasted with PFD distributions going into business hands between here and Vegas and Hawaii.
Sounds like Doug belongs to one of the special interests who got our dividend. Meanwhile, lots of Alaskans didn’t fill up their fuel tank with heating oil, didn’t get that car repaired so they won’t miss so much work, didn’t get the roof fixed, didn’t get the kids a new coat and boots, and on and on. It’s all in the kind of people you associate with, Doug.
I can see in my mind’s eye the Cathy Giessels of the legislature cackling with glee and wringing their hands while discussing how they can grab and spend any stock market gains while leaving none for any dividend from the permanent fund.
Yet as soon as its value drops 5% it’s grab the pitchforks and off with their heads…
Alaska schoolteachers should be happy with this news!
The stock market “growth” is a result of all the inflated money supply – it has literally nothing to do with real economic growth…..it’s a casino with Monopoly money. It’s what happens when the currency is getting ready to collapse….for a history lesson, look at the (roaring!) 1920’s and how the inflated pound (the reserve currency at the time) inflated markets in the world and drove us into a Great Depression. The “Rio Reset” is happening this weekend to deliver a new currency to the BRICS to replace the dollar and it’s no wonder when you realize how inflated our dollar has become just in the past 40 years. Look at Zimbabwe’s stock market if you want to get an idea of what can happen to all that wonderful growth in a very short period of time. Even better, look at the purchasing power of the dollar in 2000 (59.4) vs. now (31.1) – almost HALF….When your realize the long game and review the history via the FRED index from 1913 when the Federal Reserve was formed, the Purchasing Power of the Consumer Dollar in U.S. City Average went from 1,017 to 31.1 today. Tell me again, how much you think our stock market has really grown. We have an uneducated public who is unhealthy and reliant on government largess and it is terrifying to think how this will all end.
So the money pile grows, generating income to pay for teacher salaries, Medicaid and laundromats in rural villages. The average Alaskan receives a diminishing dividend and the Democrats want to impose an income tax. Eventually everything will come crashing down. Remember this: Effectively NONE of this money is invested in Alaska.
And yet, we aren’t allowed to have our statutory (legally required) dividends.
Preach!
Where’s Whidbey’s 401k report, wasn’t long ago that the dog was complaining about the poor investment choices he made.
Now, sit back watch the legal thievery begin
The 25% deposited into the fund is for the Alaskan people, and is given out in the form of a dividend check, every year. So why isn’t the legislature happy with the 75% they have to work with, in the budget? I think they should keep their hands off the 25% designated for the dividend fund. The check amounts, as calculated, should be the full amount every year. Not an arbitrary reduced amount. Frankly it should also be tax free as well. The legislature should never touch the 25% or any of the fund, ever, it was never intended for them.
When they take from the fund, they are stealing from the Alaskan people. The fund directly helps every Alaskan, every year, can’t say the same about the legislature. They need to do better. Many Alaskans depend on the fund for their financial well being.