Kevin Warsh, the former Federal Reserve governor chosen by President Donald Trump to run the central bank, has submitted financial disclosures that are required for his nomination to advance through the Senate. His hearing is reportedly set for April 21.
Warsh could become the wealthiest Federal Reserve chair in history, according to the newly filed disclosures.
The filings show Warsh holds assets well over $100 million, with an estimated range of up to $209 million, the New York Post reports.
His wealth is further amplified by his wife, Estée Lauder heiress Jane Lauder, who has hundreds of millions in assets and an estimated $1.9 billion net worth.
Some of Lauder’s holdings are included in the disclosures, contributing to the overall scale of reported assets.
Warsh’s nomination process is ongoing, with a Senate hearing delayed but expected next week.
If confirmed, he has pledged to divest assets and step down from outside roles. His wealth would far exceed that of prior Fed chairs, including Jerome Powell, whose assets were previously estimated at up to $75 million.
Warsh's 69-page disclosure was filed overnight with the U.S. Office of Government Ethics, detailing his income and holdings including two investments listed as worth more than $50 million each in the Juggernaut Fund LP, and $10.2 million in consulting fees from the investment office of Wall Street giant Stanley Druckenmiller.
The filings are complex. The Juggernaut Fund investments, for example, come with the caveat that the underlying assets "are not disclosed due to pre-existing confidentiality agreements," with a promise from Warsh that "I will divest this asset if confirmed."
Those are among a series of holdings, including around two dozen in the THSDFS LLC, some individually worth as much as $5 million, where detail on the holdings was also withheld and which Warsh also pledged to divest if confirmed.
OGE analyst HeatherJones, who signed off on Warsh's document, noted those commitments in her review and said that "once the filer divests these assets, he will be in compliance" with the Ethics in Government Act.
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