Warsh reveals assets over 100 million before Federal Reserve nomination hearing
WASHINGTON, DC: Kevin Warsh, the former Federal Reserve governor nominated by President Donald Trump to head the central bank, has disclosed assets worth well over $100 million in mandatory filings submitted to the US Office of Government Ethics (OGE).
The disclosure is a key procedural step before his nomination advances to a Senate confirmation hearing.
Warsh’s 69-page filing lists two investments in Juggernaut Fund LP, each valued at over $50 million, alongside $10.2 million in consulting income from the investment office of billionaire Stanley Druckenmiller.
Confidential investments and divestment pledge
Several of Warsh’s holdings, including those in the Juggernaut Fund, do not disclose underlying assets due to confidentiality agreements. However, Warsh has committed to divesting such interests if confirmed.
The filing also details nearly two dozen holdings in THSDFS LLC, some valued at up to $5 million each, with similar pledges to sell off these assets upon confirmation.
OGE analyst Heather Jones, who reviewed the filing, noted that Warsh’s commitments would bring him into compliance with federal ethics requirements once executed.
Exposure to AI, crypto and emerging tech
The disclosure lists dozens of additional investments without specified values, many appearing to be in emerging sectors such as artificial intelligence and cryptocurrency.
Among them are stakes in Cafe X, a robotic coffee platform; Cionic, a wearable technology firm; Blast, described as an Ethereum-based yield platform; and Contraline, which is developing a reversible male contraceptive.
The filing also includes the financial interests of Warsh’s spouse, Jane Lauder, an heiress to the Estée Lauder fortune.
Forbes estimates her net worth at around $1.9 billion. Some of her holdings, including municipal bonds, are listed broadly as exceeding $1 million in value.
Limited liabilities disclosed
Compared to his extensive assets, Warsh’s liabilities are relatively modest.
These include a mortgage of up to $5 million from JPMorgan Chase at a 2.75% rate, a similar-sized credit line from PNC Bank at about 6%, and capital commitments totaling nearly $2 million tied to THSDFS LLC.
Warsh’s ethics filing marks a crucial step toward his expected confirmation as the successor to Federal Reserve Chair Jerome Powell.
While the Senate Banking Committee has yet to schedule a hearing, rules require at least five business days’ notice once all paperwork is complete, making next week the earliest possible window for Warsh to testify before lawmakers.
