Kevin Warsh, former governor of the US Federal Reserve, speaks with CNBC on July 17, 2025.
CNBC
Kevin Warsh’s wealth eclipses that of all current Federal Reserve chairs, newly launched monetary disclosure varieties present.
Warsh is President Donald Trump’s nominee to succeed Federal Reserve Chair Jerome Powell. His monetary filings present that Warsh has holdings of roughly $131 million to $209 million, plus tons of of hundreds of thousands in further belongings held by his spouse, Jane Lauder.
That might make Warsh considerably richer than Powell, who, on the time of his 2018 affirmation, was considered the wealthiest Fed chair in historical past. Powell’s most up-to-date submitting, for 2025, exhibits wealth between $19 million and $75 million.
Warsh additionally disclosed $10 million in revenue from his work as an advisor to investor Stanley Druckenmiller, which Warsh has jokingly referred to as his “day job.” He earned some $3 million in further revenue from work at Stanford College, the place he’s a fellow on the conservative Hoover Establishment, and for a handful of Wall Avenue companies.
Warsh’s filings element roughly 1,800 particular person belongings. Many particular person objects are recognized as being topic to “pre-existing confidentiality obligations” that stop him from specifying the underlying belongings.
Warsh within the filings pledges to divest these belongings if confirmed.
His filings additionally point out he’ll resign from board seats at UPS and South Korean retail big Coupang, in addition to his different jobs.
Lauder sits on the board of Estee Lauder, the cosmetics agency based by her grandmother. Warsh’s filings element tens of hundreds of thousands of belongings in her identify, however many are listed as merely “over $1,000,000.” Forbes estimates her wealth at $1.9 billion.
Not all previous Fed chairs have been vastly rich. Earlier in his profession, Warsh served a time period as a Fed governor underneath then-Chair Ben Bernanke. When Bernanke stepped down from the Fed in 2014, his filings listed belongings of, at most, $2.3 million — largely in retirement funds.
Submitting his monetary disclosures places Warsh one step nearer to a Senate listening to. A previous plan to carry that listening to this week needed to be delayed after a holdup with the paperwork. A listening to would happen subsequent week on the earliest.
Warsh’s path to a full Senate vote remains to be unclear, nonetheless. Sen. Thom Tillis, R.-N.C., has stated he’ll block remaining approval of Warsh’s candidacy till a federal felony probe into Powell is resolved. Tillis can be a member of the Senate Banking Committee.
Warsh declined to remark.
