Kevin Warsh, President Trump's nominee to chair the Federal Reserve, holds personal assets of between $131 million and $209 million, according to financial disclosures filed overnight with the U.S. Office of Government Ethics and detailed Monday by CNBC.

The filing, required to advance his nomination through the Senate, would make Warsh the wealthiest Fed chair in history by a wide margin. Jerome Powell, whom Warsh is nominated to succeed, reported wealth of between $19 million and $75 million in his most recent disclosure for 2025. Ben Bernanke, under whom Warsh served as a Fed governor, left the central bank in 2014 with assets worth at most $2.3 million.

1,800 holdings, many confidential

The document details roughly 1,800 individual assets, CNBC reported. Two investments in the Juggernaut Fund LP are each valued at more than $50 million, with underlying holdings withheld under what the filing calls "pre-existing confidentiality agreements." Warsh pledged in the document to divest those positions if confirmed, along with about two dozen stakes in an entity called THSDFS LLC, some individually worth as much as $5 million.

Heather Jones, the OGE analyst who signed off on the filing, wrote that "once the filer divests these assets, he will be in compliance" with the Ethics in Government Act, according to the Guardian.

Druckenmiller, Stanford, Coupang

Warsh disclosed $10.2 million in consulting fees from the investment office of Stanley Druckenmiller, work he has jokingly called his "day job," CNBC reported. He earned roughly $3 million more from Stanford University, where he is a fellow at the Hoover Institution, and from several Wall Street firms. If confirmed, Warsh will resign from the boards of UPS and South Korean e-commerce company Coupang.

His wife, Jane Lauder, a granddaughter of the founder of Estee Lauder, holds tens of millions of dollars in additional assets, some listed only as "over $1,000,000." Forbes estimates her net worth at $1.9 billion.

Liabilities, and a dormant hearing

Liabilities listed on the form include a 2015 JPMorgan Chase mortgage of up to $5 million at 2.75 percent, a PNC Bank revolving credit line of up to $5 million at about 6 percent, and $1.95 million in capital commitments to THSDFS.

A Senate Banking Committee spokesman declined Monday to discuss the hearing schedule. Committee rules require five business days' notice once paperwork is in hand, putting a hearing no earlier than next week. Sen. Thom Tillis (R., N.C.), a committee member, has vowed to block final approval until the Justice Department concludes its investigation of Powell.

Counterpoint

Critics on the left frame the disclosures as an unprecedented conflict-of-interest problem for a future central banker. Supporters counter that the resume reflects qualification, not compromise. Marc Short, a former chief of staff to Vice President Mike Pence, told the Washington Examiner that the more pressing question is independence, saying it is "incredibly unlikely that Trump would have nominated without some sort of promise and pledge as to his fidelity to lowering rates in the short term."

Powell's term expires May 15. He has said he will remain in the role on a "pro tem" basis if Warsh is not confirmed by then.