Fed nominee Warsh filings detail vast wealth

Newly released financial disclosure forms show that Kevin Warsh’s wealth dwarfs that of all recent Federal Reserve chairmen.

Warsh is President Donald Trump’s nominee to replace Federal Reserve Chairman Jerome Powell. Financial records show Warsh has assets of approximately $131 million to $209 million, as well as hundreds of millions of additional assets belonging to his wife, Jane Lauder.

That would make Warsh much richer than Powell, who was thought to be the richest Fed chairman in history at the time he was confirmed in 2018. Powell’s latest report for 2025 puts his fortune at between $19 million and $75 million.

Warsh also disclosed that he earned $10 million in income from his work as an advisor to investor Stanley Druckenmiller, which Warsh jokingly referred to as his “day job.” He earned approximately $3 million in additional income by working at Stanford University, where he was a fellow at the conservative Hoover Institution, and at a handful of Wall Street firms.

Warsh’s files contain details of approximately 1,800 individual assets. Many individual items were determined to be subject to “pre-existing confidentiality obligations” that prevented him from specifying the underlying assets.

Warsh promises to divest these assets if their application is approved.

His filings also indicate he will resign from his board seats POWER SUPPLY and South Korean retail giant Coupangand other works.

Lauder is on the board of directors of Estee Lauder, the cosmetics company founded by her grandmother. Warsh’s filings detail tens of millions of assets in his name, but most are stated to be “over $1,000,000.” Forbes estimates his fortune at $1.9 billion.

Not all past Fed chairmen were very wealthy. Earlier in his career, Warsh served one term as Fed governor under then-Chairman Ben Bernanke. When Bernanke left the Fed in 2014, his filings listed assets of up to $2.3 million, mostly in pension funds.

Providing his financial disclosures moves Warsh one step closer to a Senate hearing. The previous plan to hold this hearing this week had to be postponed due to a paperwork hitch. The hearing will be held next week at the earliest.

But Warsh’s path to a full vote in the Senate remains unclear. Sen. Thom Tillis, R.-N.C., said he would block final confirmation of Warsh’s nomination until the federal criminal investigation into Powell is resolved. Tillis is also a member of the Senate Banking Committee.

Warsh declined to comment.