While tiptoeing around questions on whether he supported or opposed a Congressional stock trading ban, Sullivan was raking in millions through his stock trades. Since first attaining office as Senator, Sullivan’s personal net worth has increased by 176%. What’s more, Sullivan flouted the law by failing to disclose key stock trades: specifically his capital gains from Mowi ASA, one of the biggest corporate competitors to Alaska’s salmon fishing industry. By investing in Mowi ASA, Sullivan made money off of a company that illegally colluded to inflate its own prices and hurt Alaska fishermen by forcing down the price of Alaskan wild-caught salmon.
Sullivan Violated The STOCK Act By Failing To Report The Sale Of Up To $50,000 In Shares Of Atlantic Seafood Company Mowi ASA By The Federally Mandated Disclosure Deadline. According to Alaskafish.news, “Alaska Republican Sen. Dan Sullivan violated a congressional financial law by failing to report two stock sales by the federal disclosure deadline. According to a November 3 filing, Sullivan inherited two stocks upon the death of his parent. Capitol Trades, which monitors politicians’ stock market activity, said the disclosure stated that these stocks were sold in full by a third-party investing expert who counseled against filing the trade until October 30. Both of the trades were committed in August, Capitol Trades reported. First was the sale of $15,000 – $50,000 worth of shares of Mowi ASA (MHGVY:US), the Norwegian seafood company, formerly known as Marine Harvest ASA.” [Alaskafish.news, 1/26/26]
Sullivan’s Office Claimed He Had Been Unaware Of His Mowi ASA Share Sale. According to Alaskafish.news, “A spokesman for Sullivan said the senator was unaware of the stock sales, which were managed by a third party, until weeks after the deadline. Sullivan spokesman Mike Reynard told the ADN that the senator ‘complies with all Senate ethics and financial disclosure requirements,’ adding that ‘as soon as the senator was made aware of the sale, the necessary steps were immediately taken.’” [Alaskafish.news, 1/26/26]
Mowi ASA Was The World’s Largest Producer Of Farm-Raised Atlantic Salmon. According to Mowi USA, “Mowi ASA is one of the largest seafood companies in the world, and the world’s largest producer of Atlantic salmon with harvest volumes of 475 000 tonnes in 2023, equivalent to a global market share of approximately 20%. […] Mowi is the world’s largest producer of farm-raised salmon measured by both volume and turnover. We offer seafood products to more than 70 countries, are represented in 26 countries and employ 11 500 people.” [Mowi USA, Accessed 4/17/26]
Salmon Farming Corporations Like Mowi ASA Have Forced Drastic Declines In Wild Alaskan Salmon Prices. According to the Salish Current, “In 1988, Bristol Bay fishers received more than $2 per pound for sockeye at the dock. By 2001 that price declined to under $.50 per pound. As farmed salmon came onto the market, wild salmon prices crashed. Today, three to four times more farmed salmon is produced in the world than wild salmon harvested, according to the Certifications and Ratings Collaboration. Farmed salmon is imported to the U.S. primarily from Chile, Canada and Norway.” [Salish Current, 10/21/24]
Mowi ASA And Other Seafood Companies Settled An Antitrust Lawsuit To The Tune Of $85 Million After Being Accused Of Colluding To Inflate Salmon Prices. According to Reuters, “Six international seafood companies have agreed to pay $85 million to resolve antitrust claims over an alleged conspiracy to fix the price of Atlantic farm-raised salmon, the plaintiffs' lawyers said in a proposed settlement, opens new tab filed on Wednesday. Direct-purchase class plaintiffs including Euclid Fish Co in Ohio and New Jersey's The Fishing Line LLC alleged in claims first filed in 2019 in Florida federal court against leading Norwegian companies and others that they paid artificially inflated prices for farm-raised salmon and related products, including fillets and smoked salmon. The defendants included Norway's Mowi ASA, the world's largest fish farming company. […] The plaintiffs' complaint alleged the defendants, including several based in Norway and which are among the world's largest Atlantic salmon producers, coordinated sales prices and shared ‘commercially sensitive information’ to reduce competition.” [Reuters, 5/26/22]
Sullivan Reported Up To $2 Million In Stock Trades Between 2015 And 2024, Leaving Him With A Net Worth Of Over $8 Million. According to American Journal News, “Alaska Sen. Dan Sullivan has made up to $2 million worth of stock trades while in office. It may explain why he opposed a bipartisan push to ban stock trading by members of Congress. Between 2015 and 2024, Sullivan reported nearly 80 stock trades worth between $550,000 and $2.08 million. He was the only federal politician from Alaska to report any stock transactions in this period. Quiver Quantitative, which tracks congressional stock trading and wealth, reports that Sullivan was worth $3 million when he joined the Senate in 2015. He is now worth $8.29 million, a 176% increase.” [American Journal News, 4/14/26]
Sullivan’s Stock Portfolio Consistently Outperformed The Broader Stock Market, Leaving Him With A 176% Increase In Net Worth. According to American Journal News, “He is now worth $8.29 million, a 176% increase. Sullivan’s portfolio has consistently outperformed the stock market. In 2024, his portfolio grew by 47.5%, nearly double the S&P average gain of 24.9%. His portfolio grew a whopping 60.5% in 2023, significantly outpacing the S&P gain of 26.29%.” [American Journal News, 4/14/26]
Sullivan’s Office Refused To Comment On Whether He Supported Or Opposed A Bill To Ban Congressional Stock Trading. According to Business Insider, “And in September, after months of deliberations, dickering, and delay, Democratic House leaders — backed by Speaker Nancy Pelosi — unveiled a bill that would ban members of Congress, as well as many other top government officials, from trading individual stocks. It would also strengthen the generally weak penalties for violating the STOCK Act. […] Sullivan's office did not respond to Insider's question about whether the senator supports or opposes the House leadership bill.” [Business Insider, 11/6/22]