Kevin Warsh, President Donald Trump’s nominee for Federal Reserve Chair, has disclosed personal assets valued between $131 million and more than $209 million, according to a report released by the Office of Government Ethics (OGE). The financial disclosure, submitted ahead of Warsh’s Senate confirmation hearing scheduled for April 21, highlights his extensive investments in private equity, AI, and aerospace, including stakes in SpaceX and prediction market Polymarket.
Warsh’s largest holdings include two investments in the "Juggernaut Fund," each valued at over $50 million, and more than four dozen assets associated with THSDFS LLC, some worth up to $5 million individually. In addition to his financial portfolio, Warsh owns vested phantom stock and restricted stock units in UPS, valued between $1 million and $5 million each. He has pledged to resign his board positions at UPS and Duquesne Family Office LLC upon confirmation, where he earned $10.2 million in consulting fees.
Corporate Ties and Potential Conflicts
The disclosures also detail Warsh’s ties to AI companies like Cafe X, a robotic coffee bar company, and several crypto investment firms. His wife, Jane Lauder, granddaughter of cosmetics billionaire Estée Lauder, holds a personal net worth of $2 billion and owns significant shares in Estée Lauder Companies. Warsh has committed to stepping down from his roles at think tanks Group of 30 and Hoover Institution, as well as his fellowship at Stanford University’s Graduate School of Business, to avoid conflicts of interest.
If confirmed, Warsh will resign his positions at UPS and Duquesne Family Office LLC, ensuring compliance with ethics guidelines.
Confirmation Challenges Ahead
Warsh’s path to confirmation faces potential hurdles, as Sen. Thom Tillis (R-NC) has vowed to block any Fed nominees until the Justice Department resolves its criminal probe of current Fed Chair Jerome Powell. This could result in a 12-12 split vote on the Senate Banking Committee, delaying the nomination’s advancement to the full Senate. Warsh, a former Fed governor from 2006 to 2011, would receive a $253,100 annual salary if confirmed, aligning with top-level political appointee pay scales.
The nomination underscores the intersection of corporate influence and federal oversight, raising questions about how Warsh’s extensive financial interests will shape his leadership at the Federal Reserve.