Ralph Samuels joins Alaska Permanent Fund Board of Trustees

Gov. Mike Dunleavy has opted not to reappoint attorney Craig Richards to the Alaska Permanent Fund Board of Trustees, instead selecting former legislator, businessman, and longtime Republican figure Ralph Samuels to fill the vacancy.

Richards, who previously served as attorney general under former Gov. Bill Walker and has been a key player in debates over the Permanent Fund’s structure and the Percent of Market Value (POMV) draw, will exit the board after serving since 2017. His departure removes one of the most influential voices in Alaska’s ongoing tug-of-war over how much government should pull from the Fund each year and who gets to decide.

Samuels, 63, brings a different résumé and governing style to the powerful seven-member board, which manages Alaska’s $80-billion-plus sovereign wealth fund. A lifelong Alaskan with deep ties in business, transportation, tourism, and state politics, Samuels has long been viewed as a steady conservative hand with extensive experience navigating both the private sector and Juneau’s legislative machinery.

Born in 1961, Samuels attended schools across Anchorage, King Salmon, and Fairbanks, graduating from Metlakatla High School in 1979 before attending the University of Alaska Fairbanks. His early professional years were spent in aviation, working for PenAir – then Alaska’s largest in-state airline – before entering state politics.

Samuels was elected to the Alaska House of Representatives in 2002, 2004, and 2006, representing District 29 and eventually serving as House majority leader. His committee portfolio was extensive: chairing Legislative Budget and Audit, co-chairing Resources, serving on Judiciary, Oil and Gas, Legislative Council, Fisheries, Community and Regional Affairs, and Ways and Means. He was widely regarded as a budget-minded conservative with a firm handle on Alaska’s resource policy and fiscal structure.

In 2008, he entered the private-sector tourism industry, becoming vice president of external relations for Holland America Line. In that role, based in Anchorage, he represents the company’s interests in Alaska, Hawaii, and Canada before legislators, federal officials, trade organizations, and community groups. Over the years he has also served on the Anchorage Chamber of Commerce board, the Alaska Air Carriers Association, the State Chamber board, and various municipal advisory commissions.

Samuels mounted a campaign for governor in 2010, running in the Republican primary.

Dunleavy’s decision to appoint Samuels comes at a time when the Permanent Fund Board faces increasing scrutiny over investment strategy, political independence, and the future of the PFD. Samuels’ long track record in both government oversight and private-sector negotiation suggests the governor is looking for a trustee with deep knowledge of Alaska’s economic drivers and a more traditional Republican alignment.

The appointment does not require legislative confirmation.

With this move, Dunleavy reshapes the board at a critical financial moment for the state by bringing in a familiar and experienced figure who has spent decades at the intersection of Alaska business, resource development, and public policy.