New reporting reveals that Dan Sullivan’s largest investment – multibillion-dollar chemical company RPM, in which Sullivan holds up to $5 million in stock – is still raking in big federal contracts despite “allegedly defrauding the government,” even paying a $65 million fraud settlement. 

“Why would a company so closely tied to a U.S. Senator’s stock portfolio still be raking in millions in government contracts, even after paying tens of millions of dollars for allegedly defrauding the government?” said Alaska Democratic Party Chair Eric Croft. “This is exactly the kind of shady, self-dealing politics that Alaskans hate, and all the while Dan Sullivan is lining his own pockets. Alaskans deserve a senator who votes to put us first, but Dan will always vote based on what gives him the biggest payout.”

Sullivan has repeatedly voted to advance the interests of the multi-billion dollar chemical company, including blocking an amendment that would have allowed the EPA to crack down on cancer-causing pollutants and substances. Sullivan used eliminating fraud as an excuse to gut Medicaid for Alaskans, yet stays silent on allegedly fraudulent activity when it comes to his own personal interests in RPM International.

American News Journal: Sullivan profited from company that paid $65 million fraud settlement

• Alaska Sen. Dan Sullivan is personally and financially linked to a chemical company that paid a $65 million settlement for allegedly defrauding the federal government.

• RPM International, based in Ohio, was founded by Sullivan’s grandfather and is currently run by his brother, Frank C. Sullivan. The senator owns up to $5 million worth of RPM stock, making it his largest holding.

• In 2013, the Justice Department accused Tremco Inc., an RPM subsidiary, of overcharging the federal government for roofing contracts. 

• A whistleblower said the company knowingly failed to extend discounts offered to other customers and overcharged the government for materials. The overcharge was estimated to be $28 million.

• RPM and Tremco agreed to pay $65.1 million to make the allegations go away. RPM maintained that the discrepancies were the result of human error, not deceit.

• Sullivan was elected to the U.S. Senate the following year. Since then, RPM has been awarded more than $5 million in new government contracts.

• Since President Donald Trump was reelected, his administration has used concerns about fraud and waste to justify cutting government programs and services. Sullivan supported these efforts, which often stopped short of scrutinizing corporations like the one his family owns.

• In 2025, Sullivan voted for the One Big Beautiful Bill Act, which will cut $1 trillion from Medicaid over the next decade, forcing 12 million Americans to lose their health insurance. Sullivan said in a press release that the bill would eliminate “waste, fraud, and abuse” from the program, even though most Medicaid fraud is committed by providers and corporate contractors, not enrollees.

• Sullivan was similarly supportive of DOGE, the Trump administration program that withheld appropriated government funds in the name of rooting out waste and fraud. NPR reported that these cuts primarily focused on research grants, educational programs, and foreign aid while leaving many of the government’s largest corporate contracts intact.