Kevin Warsh is worth more than all recent Federal Reserve chairmen, according to newly released financial disclosure documents.
Warsh was nominated by President Donald Trump to replace Federal Reserve Chairman Jerome Powell. Mr. Warsh has assets of approximately $131 million to $209 million, plus hundreds of millions of dollars in additional assets held by his wife, Jane Lauder, according to his financial filings.
That would make Mr. Warsh significantly wealthier than Mr. Powell, who was considered the richest Fed chair in history when he took office in 2018. Powell’s most recent tax return (for 2025) shows his assets range from $19 million to $75 million.
Mr. Warsh also disclosed $10 million in income from his work as an advisor to investor Stanley Druckenmiller, which Mr. Warsh jokingly refers to as his “day job.” He had earned about $3 million in additional income from work at Stanford University, where he was a fellow at the conservative Hoover Institution, and a handful of Wall Street firms.
Mr. Warsh’s filing details approximately 1,800 individual assets. Many individual items have been identified as subject to “existing confidentiality obligations” that prevent the underlying assets from being identified.
Mr. Warsh has pledged in his filing to sell these assets if confirmed.
His filing also indicates that he will resign from his seat on the board. UPS and Korean retail giant Coupangas well as other jobs.
Ms. Lauder serves on the board of Estée Lauder, the cosmetics company founded by her grandmother. Warsh’s filing details tens of millions of assets in her name, many listed simply as “$1 million or more.” Forbes estimates her wealth at $1.9 billion.
Not all past Fed chairmen were millionaires. Early in his career, Mr. Warsh served on the Fed’s board under then-Chairman Ben Bernanke. When Bernanke resigned from the Fed in 2014, his filings listed up to $2.3 million in assets, most of which was retirement funds.
The financial disclosure filing brings Warsh one step closer to a Senate hearing. Advance plans to hold a public hearing this week had to be postponed due to a backlog in paperwork. A public hearing is expected to be held as early as next week.
But Warsh’s path to winning a full Senate vote remains unclear. Sen. Thom Tillis (R-North Carolina) said he would block final approval of Warsh’s candidacy until the federal criminal investigation into Powell is resolved. Mr. Tillis also serves on the Senate Banking Committee.
Warsh declined to comment.
