Kevin Warsh in Washington, April 25, 2025. TIERNEY L. CROSS/BLOOMBERG VIA GETTY IMAGES
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he likely next chair of the Federal Reserve, Kevin Warsh, is a billionaire – one more among the American president's inner circle. Donald Trump's pick to lead the central bank – the nomination must still be confirmed by the Senate – disclosed his assets on Tuesday, April 14, in accordance with US law. Together with his wife, Jane Lauder, heiress to the Estée Lauder group, he declared a fortune of at least $192 million. Yet the figure is a significant underestimate of their actual wealth.
The form provided by the US administration for Warsh is designed such that each asset he owns is declared within a valuation bracket: between $50,000 and $100,000, between $100,000 and $250,000, and so forth. The highest bracket is set at "over $50 million," making it impossible to know the true value of any asset above that threshold. Warsh reported assets in this top bracket twice.
The form for his wife has a maximum bracket of over $1 million. Such a declaration reveals little about the real wealth of this exceptionally rich heiress. Based on her stock holdings, compiled by financial news agency Bloomberg, it is known that Lauder holds, for example, $1.5 billion in Estée Lauder shares, both directly and through two family trusts. In short, the couple is extremely wealthy.
