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January 16, 2026

State of Alaska

Fifty years ago, Alaskan voters amended the state constitution to set aside a portion of the state's revenues from oil and minerals, establishing the Alaska Permanent Fund to benefit all generations of Alaskans. “The generations who established and built the Permanent Fund prioritized the future of Alaska over their ability to take more for themselves,” stated Deven Mitchell, executive director and CEO. “Fortunately for our state, they turned a time of short-term extraordinary wealth from nonrenewable resources into Alaska's greatest renewable resource. Fifty years later, it is our turn to lead to ensure that the fund continues to serve Alaskans for generations to come.” Per the 1976 amendment, a portion of all the state's oil and mineral revenues — along with special appropriations to grow the fund and inflation proofing to maintain the fund's purchasing power — is deposited into the fund's principal. These contributions are transformed into long-term, renewable financial revenues through global investment, generating income to support essential state services and the annual Permanent Fund Dividend, which is distributed directly to Alaska residents. The Alaska Permanent Fund has grown to become the largest sovereign wealth fund in the U.S., with a value exceeding $85 billion and a 9.35% rate of return in fiscal year 2025.




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