Dunleavy reappoints Craig Richards to Permanent Fund Corp. board

By
Suzanne Downing
-
8

Alaska Gov. Mike Dunleavy today announced the reappointment of former Attorney General Craig Richards to the Alaska Permanent Fund Corporation Board of Trustees for the term of July 1, 2021 to July 1, 2025. Richards served on the Board of Trustees from 2015 to 2016 and was reappointed in 2017.

“As a Trustee, Craig has a proven record of professional stewardship of the Alaska Permanent Fund. Following a year of record growth, I am fully confident in his continued efforts with the Board to wisely manage and protect the state’s most valuable asset,” Dunleavy said.

Craig Richards majored in finance at the University of Virginia, received his Masters in Business Administration from Duke University and Juris Doctorate from Washington & Lee University. After serving as law clerk for Judge Beistline, Richards worked in private practice with a focus on oil and gas. He served as Attorney General for the State of Alaska from 2014 to 2016 and has since reentered private practice in Anchorage.

The Alaska Permanent Fund was established in 1976 via a constitutional amendment approved by the voters, and today has a balance of $80,719,900,000. A State-owned corporation, its earnings help pay for state government and a portion of the earnings are returned to the people of Alaska as their share of oil royalties, also known as Permanent Fund dividends.

8 COMMENTS

  1. Craig Richards was Bill Walker’s Attorney General and left that post under less than ideal circumstances. Governor Dunleavy’s reappointment of Richards is curious and illustrates his apparent inability to engage in adequate vetting process.
    Oh well……………………………………

  2. Yeah, I’m not sure about this. My personal retirement fund was up much more percentage wise than the Permanent Fund over the last year and I had record growth too but I wasn’t put on the PF Board. Reappointing someone just because they’ve been there isn’t always the best decision. In most years we would be better off having the PF invested in the S&P 500 than paying people to play with our money. In the lifetime of the fund we would have been BIILIONS of dollars better off by investing in the S&P 500. Depending upon where you look, the PFC reports a roughly 9% rate of return since inception, the S&P rate of return over the same timeline is roughly 12%. That’s BILLIONS upon BILLIONS of dollars left on the table with or without adding compounding interest, the 8th wonder of the world, into the equation.

  6. If during the 2018 gubernatorial campaign someone had predicted that Walker would lose but the winner would appoint Walker’s AG to the Permanent Fund board then we would have all said, “Then you are predicting that Begich will win and become Governor.” Walker vetoed the PFD, and his AG said to do it. Now that attorney is appointed by this Governor to be on the Permanent Fund board. What is in the Capitol Building water coolers?

  7. Stop the constant back and forth garbage being thrown about the PFD. Give the steak holders of Alaska the option to cash out their portion of the $80,000,000,000 and once they receive their share, make it to where they stop having to worry or fight to see if they will get 100 dollar PFD or the full statutory one.
    I/we are all the steak holders here in Alaska and the PFD. So either gives us all our PFD or just stop it and also give me mineral rights to my property.
    Pay the steak holders.
    As I have posted before, it is the State withholding the prior years full PFD is why I am going to be losing my property this year. THANK YOU LEGISLATURE. We are going to be just another family out on the street. It was the PFD that paid my taxes.

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