Kevin Warsh’s newly released financial disclosures shed light on the Federal Reserve chair nominee’s vast wealth, but also raise questions about parts of his holdings that aren’t fully revealed in the paperwork. That could be a challenge for Warsh as he seeks to overcome a legacy of ethics scandals under the current chair, Jerome Powell.
Warsh in filings to the Senate Tuesday disclosed owning assets worth roughly $135 million to $226 million. That is in addition to what Forbes estimates as a $1.9 billion fortune held by his wife, Jane Lauder, granddaughter of the cosmetics founder Estée Lauder.
But Warsh’s disclosures don’t reveal everything about his wealth. For one, the forms ask only for reporting values in broad ranges, making precise calculations of his wealth impossible. Two individual assets are each listed as simply being worth over $50 million. Their worth could be just above that threshold, or far higher.
Sen. Elizabeth Warren, D.-Mass., called attention Thursday to that pair of holdings, both in a a financial vehicle called Juggernaut Fund. Warsh in his filings describes them as connected to Duquesne Family Office, the financial firm run by investor Stanley Druckenmiller. Warsh has worked there since leaving the Fed more than 15 years ago.
