The Alaska Democratic Party paid to mail flyers disparaging Senator Dan Sullivan, calling him “self-dealing, self-enriching, self-serving” and claiming he is so corrupt, “he even broke the law.”
The flyer draws heavily on a report by Business Insider published in 2022 that revealed Sen. Sullivan had broken the federal STOCK Act of 2012. The violation did happen, but the flyer exaggerates the reality. Sen. Sullivan had inherited stocks after the passing of a parent in 2022. Those stocks were managed by a third-party financial advisor and sold without Sullivan’s knowledge. Sullivan did not learn of the trades until after the federal deadline passed— hence, the violation. However, Sullivan immediately filed after learning of the trades. The Alaska Democratic Party takes this procedural violation and amps it up into an emotionally charged accusation intended to dissuade Alaskans from voting for Sen. Sullivan (but not necessarily persuading voters to vote for Sullivan’s main challenger, Mary Peltola, as the flyer says nothing about Peltola.)
Here is an honest breakdown of which claims in the flyer are true, which are only half-truths, and which are outright false:
Claim 1: Sen. Sullivan Violated Federal Law
Full Claim: The flyer quotes an article published by Business Insider in 2022: “Republican Sen. Dan Sullivan of Alaska is the latest member of Congress to violate a federal conflicts-of-interest law with improperly disclosed stock trades.”
Verdict: True but misleading.
Sen. Dan Sullivan did violate the STOCK Act of 2012 (Stop Trading on Congressional Knowledge Act) by failing to disclose two stock sales within the legally required 45-day window. However, these stocks were being managed by a third-party financial advisor and Senator Sullivan was unaware of the trades until after the deadline passed. He filed the disclosure immediately upon learning of them.
Claim 2: Sen. Sullivan Hid Stock Trades
Full claim: The flyer says Senator Sullivan “broke Congress’s insider trading law by hiding stock trades”
Verdict: False
Senator Sullivan did not wittingly hide the stock trades; he missed the deadline because he did not know the stocks had been traded by his third-party financial advisor. While failing to file timely disclosures under the STOCK Act is a violation of federal financial disclosure rules, there is no evidence or legal finding that Senator Sullivan engaged in insider trading or intentionally hid transactions. The STOCK Act covers both mandatory disclosure timelines and restrictions on insider trading. Sullivan’s violation was purely procedural (late filing of inherited asset liquidations).
Claim 3: Sen. Sullivan Tripled His Wealth While in Washington
Full claim: “During his 12 years in Washington, Dan Sullivan has tripled his wealth up to $14 million.”
Verdict: True but misleading
Based on midpoint estimates of his financial disclosures over his tenure in office, Sen. Sullivan’s reported assets grew substantially, with estimates placing his midpoint net worth near $14 million. However, the sentence misleadingly connects that growth to his time in Washington D.C. with a clear purpose of convincing the reader that Sullivan’s wealth was improperly gained. The full truth is a significant portion of Sullivan’s net worth is tied to long-held family stock in RPM International, a multinational company specializing in coatings and sealants. The company was founded by Sullivan’s grandfather, and he holds high-value shares. A fact that does not pertain to Sullivan’s tenure as a public servant.
Claim 4: Sen. Sullivan Profited from World’s Largest Corporate Salmon Farmer
Full claim: “…he’s profited from industries that hurt Alaskans— like the largest corporate farmed salmon company in the world.”
Verdict: True but misleading
It is true that Sen. Sullivan sold shares in Mowi ASA, a Norwegian aquaculture corporation and the world’s largest producer of farmed Atlantic salmon, an industry that directly competes with Alaska’s wild salmon fishery. However, the flyer fails to mention that Sullivan inherited those shares when a parent passed away. What else was he to do with them?
Claim 5: Sen. Sullivan Uses Public Office for Personal Profit
Full claim: “He’s profited from companies he regulates in Congress, he’s profited from government contracts sent to a company he’s personally invested in…”
Verdict: False
The flyer posits this claim as if Sen. Sullivan is intentionally using his public position to positively impact his own personal investments. However, this amounts to nothing more than political propagandizing and ignores the reality that most members of Congress sit on committees that deal with regulations that may impact their personal investment holdings. As a U.S. Senator serving on committees such as Armed Services and Commerce, Science, & Transportation, Sullivan votes on legislation, regulations, and federal budget allocations that affect broad sectors of the economy. His family’s company (RPM International) and his other holdings— as all companies operating under U.S. law— are indeed affected by federal policy and government procurement.
