Former US Federal Reserve (Fed) Governor Kevin Warsh is President Donald Trump's nominee to succeed Chair Jerome Powell, whose term concludes in May. The Senate Banking Committee is scheduled to hold a confirmation hearing on 21/4.
Financial disclosures show Warsh and his wife, Jane Lauder, hold approximately 192 million USD, a figure that could be even higher. His individual assets are estimated to be between 135 million and 226 million USD.
Regulations require Fed chair candidates to disclose their assets to the Senate, though exact figures are not necessary. Warsh's filings list two funds valued over 50 million USD. Lauder also holds several funds exceeding 1 million USD. Warsh married Lauder in 2002. She serves on the board of cosmetics giant Estee Lauder. Forbes estimates her wealth at approximately 1.9 billion USD.
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Kevin Warsh at an event in New York on 8/5/2017. Photo: Reuters. |
Kevin Warsh at an event in New York on 8/5/2017. Photo: Reuters.
The disclosures indicate Warsh's wealth significantly surpasses that of Powell, who was once considered the wealthiest Fed chair in history upon his 2018 confirmation. Powell's most recent 2025 filing reported his assets between 19 million and 75 million USD. Not all former Fed chairs have been wealthy. Warsh previously served as a Fed governor under Chair Ben Bernanke. When Bernanke left the Fed in 2014, his disclosures showed his maximum assets were only about 2.3 million USD, primarily held in retirement funds.
Warsh also declared 10 million USD in income from his advisory role to investor Stanley Druckenmiller, a job he humorously refers to as his "main profession". Over the past year, he earned an additional 3 million USD from roles at several Wall Street firms and Stanford University.
Warsh's filings detail approximately 1,800 individual assets. Many are identified as "available security obligations", exempting him from disclosing their specific origins. In his disclosure, Warsh pledged to divest these assets if confirmed.
However, his path to Senate confirmation remains uncertain. Senator Thom Tillis has stated he will block Warsh's confirmation until a federal criminal investigation involving Powell is resolved. Tillis is also a member of the Senate Banking Committee.
Warsh's disclosures also list dozens of undisclosed investments in companies, including Polymarket, SpaceX, and several digital currency-related firms. Warsh stated he previously participated in a venture capital fund for Druckenmiller. The filings also indicate Warsh will step down from the boards of UPS and Coupang, South Korea's largest online retailer. He will also relinquish his positions at Stanford and other organizations.
By Ha Thu (Source: CNBC)
