How Rich Is Federal Reserve Chair Nominee Kevin Warsh?

Kevin Warsh, President Donald Trump's nominee for Federal Reserve Chair, underwent a confirmation hearing before the Senate Banking Committee. During the hearing, Warsh addressed concerns about Fed independence and presidential pressure, but largely skirted discussions about his personal wealth. Senator Elizabeth Warren criticized Warsh's financial disclosure for being vague, stating it failed to reveal the full extent of his assets and that it was unclear if his funds held stock in prohibited financial institutions. Warsh's financial disclosure revealed personal assets between $135 million and $226 million, with his wife, Estee Lauder heir Jane Lauder, possessing an additional $56 million to $95 million. Forbes estimates Jane Lauder's net worth at $2 billion, largely from her stake in Estee Lauder. Even without her fortune, Warsh's disclosed holdings significantly exceed those of current Fed Chair Jerome Powell, whose assets were reported between $19 million and $75 million. A substantial portion of Warsh's wealth appears linked to his role as a partner in the family office of billionaire hedge fund manager Stanley Druckenmiller. Warsh's two largest assets, Juggernaut Fund LP, each valued over $50 million, are part of Druckenmiller's Duquesne Family Office, where Warsh has worked since 2011. The exact holdings of these funds remain unclear. Warsh also listed investments in dozens of startups and private companies, including Databricks, Crusoe, Polymarket, and SpaceX, through DCM Investments 10, also associated with Druckenmiller's firm. These investments are further linked to venture capital firm Abstract Ventures. Additionally, SEC filings suggest other holdings by entities associated with Druckenmiller in fintech, diagnostics, and ticketing companies. Warsh also reported liabilities ranging from $3 million to $12 million. The disclosure also highlighted significant property holdings, including a $12 million home in Palm Beach, an $8 million penthouse in Manhattan, and four East Hampton properties collectively worth $18 million, as well as stakes in horse racing operations.